Realtor Michael Mahoney in Boston with eXp Realty
Michael Mahoney

Buyers Need to Be Ready for Tight Inventory This Spring

Buyers Need to Be Ready for Tight Inventory This Spring

Michael Mahoney Boston Realtor on a Home Breaking Your HeartWith the Spring market coming, you need to make sure you have your ducks in order and be prepared to have your heart broken in the housing market as inventory is extremely low.

I would say that one the first things a buyer’s agent in Boston needs to do with a client is set expectations.  We need to offer clients a realistic outlook on today’s marketplace, and explain what it will mean for them.

With the inventory as slim as it is, a buyer’s agent needs to prepare clients for facing limited inventories.  In short, you may not get everything on your wish list.   There is high competition for many properties and you need to be ready to act fast and possibly face bidding wars for properties currently on the market.  Also with lower inventory comes rising prices.  You need to get your finances in order before you shop and understand that mortgage rates are expected to keep rising, which could add to your borrowing costs if you delay buying. As rates rise, your borrowing power is diminished.

From a recent Realtor® Magazine article on the current state of the market in the United States, Here is what Rob Mehta a Realtor in Minnesota had to say:

“Preparing buyers for the reality of a seller’s market is important,” Mehta says. “Some buyers may have to face the heartache of losing at least one house and having to go through that one loss before heading into the second offer more prepared and pickier about what contingencies they include in order to submit a cleaner offer to the seller.”

Be ready to act fast. Forty-three percent of the existing homes sold in January were on the market for less than a month, according to the NAR. Buyers who have a preapproval letter and who attach limited contingencies to their offer may have the best chances of getting their offers accepted. Preapproval—a step beyond getting “prequalified”—is an analysis from a lender of the buyer’s credit and assets that indicates how much financing the buyer has been approved for. A preapproval letter can be submitted with offers to add some assurance to sellers that there won’t be any hold-ups in financing. Also, a preapproval reminds buyers what they can afford to pay. In bidding wars, buyers can get caught up in the emotional process of the back-and-forth within negotiations, but there’s a lot of risk to that. “We need to share with our buyers that they could overpay and get caught up in the emotional aspects of the process,” Mehta says. “Our fiduciary responsibility is to provide the positives and negatives of a property and to advise clients accordingly in a transaction. We need to be upfront with our valuations and help them make smart decisions, and we watch the contracts carefully so that our buyers are protected.”

Start Searching for your Home Now

Get the value of your home now

One Response to “Buyers Need to Be Ready for Tight Inventory This Spring”

  1. March 23, 2018 at 9:37 pm, Dorothy Manning said:

    Great post, Michael. And we all love and adore you.



I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)


This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)


We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

Review Michael Mahoney on

Community Events

Monday Morning Mah Jongg

Mah Jongg in Cambridge and Beyond

Intermediate Players welcome to join us for a fun game of mah jongg. We play quickly, chit chat, joke around and play a mean game of mah jongg.  Bring your current card and your wallet. Be prepared to win and win even when you lose. $4 pie.

Bring your young kids for playtime at BPL- Mattapan Branch!

Boston Breastfeeding Coalition

Our Mattapan group, hosted by Mattapan Family and Community Engagement, is equal parts playgroup and breastfeeding support. If you're interested in sing-a-longs and fun interactive time with your young child, this is a great group for you. All...

Crypto Weekly

A weekly meetup about cryptocurrency and bitcoin will be hosting this week in the Dorchester area, Please RSVP as there will be free Vietnamese Banh Mi sandwiches and sparkling water provided! Come whether you are a newbie or an expert, we...

Board Game Night!

Makers at the Newton Free Library

Come play some board games! Bring your games you've been itching to play with other like minded folk or grab one of the libraries. We've begun lending out our games so there aren't as many. You can see the selections on the 1st floor in the...