The housing market over the last couple of years is one to be remembered. Similar in many ways to what we have experienced before. The pandemic and other factors contributed to the shortage of available houses on the market, causing the crisis.
Homes are listing for thousands of dollars above what they would have been listed for just a few years earlier. In many cases, sellers are receiving offers tens of thousands above the asking price. All in a matter of a few hours or a few days.
Desperate buyers are resorting to various measures to have their offers accepted. Some potential buyers are writing letters to the sellers explaining why they would be the perfect owners for their dream home. Sellers who normally would receive several offers during opening weekend are now receiving dozens. Some of the offers include waiving the inspection where any potential defects would normally be spotted and requested to be repaired. Others are offering the sellers the ability to stay in the home free for months after closing. Bidders offering the “extras” in their offers are winning over the highest bidders.
In some cases, potential buyers are lining up in their cars around the block for the latest mid-price range house placed on the market waiting for the doors to open. Buyers are trying to find sellers before houses are listed.
I remember when we bought our first home thirty-two years ago. It had been on the market for a year without any offers. The day we went to look at it, the realtor never showed up. It was a lovely home that was move-in ready. I couldn’t understand why it hadn’t sold earlier, especially since it was in the mid-price range. Perhaps because it was a tri-level ranch, which wasn’t in vogue at the time. We purchased the home directly from the owner with no realtor’s fee. Happy seller, happy buyer. We lived in that home for twenty-five years.
When we went looking for our second home in a highly sought-after neighborhood, we were interested in one that had also been on the market for a year. The owner had even lowered the price multiple times. Once again, I couldn’t figure out why it hadn’t sold. Perhaps it was the sunken living room. We made an offer the first day, have lived in it for the past seven years, and have no intentions of moving again.
Each time we looked for a home, I prayed that God would guide us to the home where He wanted us to live. I believe He put us exactly where He wanted us each time.
Acts 17:26 says: “From one man he made every nation of men, that they should inhabit the whole earth; and he determined the times set for them and the exact places where they should live.”
If we ask, God will guide us to where He wants us to live. Housing crisis or not.