How to Go with the Flow of the Market — Tactics for Buyers

My Dirty Little Secrets for Buying a Home Series
Buying a home can be stressful. That’s why the tips and strategies you’ll find in my 8-week series will set you on the right path. It’s my own unique approach and a “behind the scenes” glimpse of what you should look out for and consider when starting your own search for a home.

Buying a home on Chicago’s North Shore requires an understanding of not only the seasonal shifts in market activity but also the weekly flow of the market. You’ll need to understand that there are two cycles – both a yearly one and weekly one when looking at homes. And you’ll need to be prepared and know what to expect for each one.

One simple way to explain these cycles is with a surfing metaphor: It’s like knowing the best time of day to catch the best waves or whether to wear a wetsuit at certain times of the year.

Same concept for buyers!

Just like a surfer hitting the waves, you start to know what to expect and know what time you need to be out there to get the best outcome. It’s a huge lesson for buyers to know that they’ll need to adapt and be flexible.

Go With The Flow
I can’t emphasize enough that you’ll be a successful and less stressed buyer if you know how to respond to the cyclical flow of the market — both seasonal and weekly.

My secret tips below will help you understand why timing can affect how you go about looking for a home:

The Weekly Inventory Cycle

Homes tend to come on the market Thursday and Fridays. As the weekend approaches buyers have time to devote to their home search. Makes sense! That means you have to get organized Friday afternoon or evening to know what homes you are going to see Saturday and/or Sunday. (Your Friday nights will never be the same!)

Depending on the home and how it is priced it may move fast with multiple offers. Lately I’m seeing sellers underpricing their home to ultimately drive multiple offers and significant prices over ask.

The key in this situation is to get into to see the home and make sure it is the home for you. I like to educate my buyers so they can be prepared and see the property to truly know if this is the right home for them rather than be swept into the moment.

There are exceptions to this rule, but typically, this is how the weekly cycle of new listings works.

Keep in mind that the inventory of homes is low, so this can create a quick flow to many homes you find appealing. So once you decide to seriously buy a home, you really need to be out there looking every weekend you can in order to see what has come on the market each and every week. And again, have a strategy in place for to help you “ride the wave” and find your dream home.

The Yearly Inventory Cycle
Here’s a breakdown of what to expect during the year:
In a typical market, Inventory (the number of homes on the market) on Chicago’s North Shore has a yearly cycle that looks like a bell curve with the low periods in January and December, and the height of the inventory peaking April through June. However, this is changing with low inventory. Currently, the market has a more steady flow with buyers buying as homes become available. This proves that a plan in places makes for a successful outcome!

There are exceptions to every rule, so if you want to know what to expect for your own home search, get in touch and I’ll help you through it all. It’s not one-size-fits- all and there are not hard rules, just trends to keep in mind.

Let me know what you are looking for and where you would like to live. I can get you started on your search and help you fine-tune it to your needs and budget. That way you’ll know what to expect and avoid any anxiety about your search. “Chillax” and ride the wave of The Chicago’s North Shore market! Let me show you how.

Next up in my Dirty Little Secrets for Buying a Home series is a must-read – What NEVER to Do Before Buying a Home. These tips will save you a lot of grief!