Early summer buyers. Those people that couldn’t buy. How are they becoming late summer buyers? We’re going to discuss that and much, much more so a lot of those people were pushed out of the market, if you remember right. We had all these multiple offers coming in and they couldn’t get them right. So there’s a ton of people that were kind of pushed out and they sat aside temporarily.
Very, very good point. Temporarily then as we started to see some of these things stabilize. I just talked about lumber prices in the last episode. Right. So what we want to do is realize that now prices are starting to stabilize just a little bit. We have appraisals that are starting to stabilize. People aren’t paying over price so much.
They’re not so concerned that the home won’t appraise because there’s been enough that went through the system that all of a sudden they feel relatively comfortable about it. Their lenders make them feel good, give them reassurances and tell them what’s been going on. And supply is a little bit better. Nowhere did I say that it is good. Supply is better than it was previously when there was virtually no supply.
So we currently have some supply. OK, then we had this thing with the new home builders in the new home. Builders went to this situation where they said we’re not going to enter any contracts right now, only spec only because lumber prices, we’re not sure. And all these commodities and we can’t give you a price. So we’re not going to actually go ahead and sell it. We have so much demand that we’re just going to kind of wait and then we’re going to price it when we get to this time.
So they kind of went to this situation. So that’s another point there. And supply issues, I think, getting a little bit better overall, not just for lumber, but for all the other inputs. The labor market starting to get a little bit better. People are going back to work and we have things that are getting better. So the challenge for you as an agent is to find all of those people that work early summer buyers that were stressed, that were saying, I can’t do this, I can’t overpay, that didn’t get the property they wanted, or maybe they bought the property they didn’t want.
And all of a sudden they’re like, hey, let’s get the house I actually want now. Right. They were in this situation where they were bidding and is frantic and they’re like, I’ll take anything. Hmm. Might those people want to move? What I’m trying to do is discuss some ways that you can find some late summer buyers that you can get into homes right away.
So think back through go back through all those offers that you got in when you had 20 offers, 30 offers, any of those things. Right. And see who those people were. Just think back through. If you have a listing that sitting a little bit, maybe reach out to some of those people that were reaching out to you that are like my client really wants. And if they haven’t gotten that yet.
Right, you saw all those desperate pleas that people were putting in and they had all these lender letter or these, you know, home buyer letters. And they were trying to do all these things and they got super creative and they were trying to buy you a vacation and whatever it is, if you would give them a home while those people right now, ladies and gentlemen, those are people we should go after to have buyers right now trying to help fill your pipeline just a little bit more every day for you. And I think we’re good. Enjoy your Thursday. Happy hunting.