Invitation Homes, and institutional landlord owns nearly 86,000 rental homes. Last month, its CEO, Dallas Tanner, told investors he's starting to see more competition from what he calls accidental landlords (home sellers who list their house, can't sell it, and rent it out instead).

Accidental landlords show up most in areas where prices have dropped and listings have piled up.

Homes in Utah County are taking longer to sell, but they are still selling. The typical listing spent 68 days on the market in October, just barely up from 62 a year ago. About 1 in 4 listings have lowered their asking price, and about 7.5% came off the market without selling. That’s all to say the homes that are selling aren't lucky, they're priced for today and shown well from day one.

From my experience working with seller clients, often times a stale listing is just one price adjustment away from getting multiple offers.

If you're buying: Look for homes that have sat 60+ days or already cut their price. Those sellers have adjusted to what the market will pay, and they're usually open to credits and rate buydowns.

If you're selling: If your home sat or expired, don't default to renting it out. First find out why it didn't sell. It of ten comes down to the price, the photos, or the first two weeks of marketing. All three can be fixed when working with a realtor who knows what they’re doing.

This week I’d like to highlight another one of my own listings. For less than $500K you could buy your very own single family home in a great neighborhood. Reach out for more details or to set up a showing if you’re interested!

Here to serve,

P.S. Market conditions can change quickly. If you've been waiting for the "right time" to make a move, let's talk about whether that time might be now. Reply whether your buying, selling, or waiting and we’ll make a game plan for your situation.