With So Few Homes For Sale, What Can You Do When You Want to Move?

It’s no secret that our country has been in the throes of a housing inventory crisis over the past several years. It started before 2020, after which quickly changing housing needs combined with historically low mortgage interest rates created the perfect storm – a real estate frenzy that lasted for two years. Now that interest rates have normalized and companies are starting to require employees to come back into the office, the ebb and flow of real estate sales is at least starting to look more familiar. Yet one thing remains that cannot be ignored: low home inventory.

In addition to the shortage created between 2020 - 2022, two more factors stand out as role players in today’s current inventory crisis: Builder PTSD from 2008 and challenges obtaining building material. In the years preceding 2008, it was common for builders to build homes prior to securing the buyer. Today, builders are more likely to wait until they have secured multiple buyers for a section of their community before they start building. This creates security for the builder and their investors that they will be paid immediately upon the home’s completion. This also helps reduce the building costs, which is doubly important because of increases in material production and delivery time.

So what can you do to find a home today when you’re not seeing what you want to buy online? Start by partnering with a vetted and experienced Realtor who, in addition to searching the Multiple Listing Service (MLS) for potential properties, will employ a few more strategic moves, the first of which is Realtor to Realtor networking. Agents are always in communication with each other and they know they are each other’s best resources for the inside scoop on what homes will be listing soon. Another strategy is to search for off-market properties through agent networking, neighbors, friends, family and good old communication. There are a variety of situations where homeowners want to sell, but don’t want their home to be publicly listed. They will often ask people to spread the word about their home, and if approached by a potential buyer or buyer’s agent, they would gladly entertain selling their home.

Inventory will start shaking loose by mid-Spring, but with that will come more competition from other home buyers. If you want to be ahead of the Spring market and be in line for the best properties both on and off the market, your best move is to partner with a trusted Realtor ASAP. N S

Student of the Month

by Lisa Jeffries

Joanie Quinn

March Student Of The Month

The March Casey’s Public House Student of the Month is Joanie Quinn, a Junior at Cardinal O’Hara High School (COHS), who received a Certificate of Achievement and a $25 gift card from Casey’s Public House, our Sponsor of this program.

Joanie is the oldest of four children, and she is a devoted big sister. She and her family are active members of St. Anastasia’s parish where Joanie enjoys attending the youth group celebrations, as well as weekly mass. She also likes to take part in many community events and is always there to lend a helping hand.

She is a Neumann Scholar at O’Hara, meaning she has earned a full academic scholarship to the school. Joanie is a member of the National Honor Society, the Mathletes Team and the Community Service Corps, and she also participates in the Danny Hammond Dance Marathon Fundraiser.

Joanie plays three sports so she and her family are always extremely busy. She runs cross country at O’Hara where she qualified for the State Championships this past fall, and in the spring she runs on the track team. Joanie has been a varsity basketball player since her freshman year, where she is now the starting point guard. Her team won the State Championship 4A in both 2021 and 2022, and the current team is 14 - 3!

Joanie, your Newtown Square and Marple Friends & Neighbors send you congratulations for this recognition. With your impressively large and significant list of achievements and activities, we are sure you’ll go on to do amazing things. N S

Nominate the Next Student of the Month!

Any grade 7–12 student who resides within the borders of the Marple Newtown School District may be nominated by a parent, teacher or other adult who submits in writing some ways the student demonstrates Excellence in Service to friendship, school or other local communities. Academic or athletic excellence is not required. Email your nomination to Lisa Jeffries at LJeffries@BestVersionMedia. com. The selected nominee will be featured in a future issue and will also receive a Certificate of Achievement and a $25 Casey’s Public House gift card.

by Jack Del Pizzo, CPA Del Pizzo & Associates