all real estate is unique

The St Louis real estate market, like most things is cyclical.  There are slow times and busy times, and there's usually no warning when things are changing.  

Lately, its been busy.  Usually people like to hear that.  Recovery, sales, buyers.  All good news.  

The one time it sort of stings is when a buyer is locked onto a property, and hesitates.  Sometimes that's ok.  Other times, they miss out and the property is purchased by someone else.  

In today's world, the idea that something is unique goes against the grain of our society.  Like jeans;  they don't have your size?  "Check the back please," or "can you call your other location?"   If all else fails, you can find it online, but its out there.  

Real estate is unique.

Even with some home builders building tract homes that are identical, in the resale market, some are well maintained, some have the "right" location, some are priced affordably, while others are not.  

Real estate is unique.  

In the past few weeks, buyers have been running up against this more than in recent years.  

My rule of thumb has always been for buyer's to do their due dilligence on properties, but when they 'know' what they want, hesitation is never a good idea.  Research can always be done during negotiations, and most purchase agreements have contingency periods for inspections, survey, insurance, appraisal, and reviews of subdivision / condo indentures.  Additional contingencies can be used to to cover all the bases.  Waiting for a price drop, waiting to study the area more can cost a buyer the home they want. 

Conventional wisdom usually says,  "Don't worry, there's plenty of houses out there!"  While that's true, the purveyor of that sentiment hasn't gone around with a buyer after they've lost out and never found anything that compares.  Its sort of like dating a widower and never measuring up to their departed loved one.  It can be depressing.

So now, when the market is busy  -- don't hesitate when you find the right place!