The buyer activity in the greater Lansing market is head-spinning. Add a shortage of good marketable listings and you’ve got a situation that results in listings selling very quickly with multiple offers being common. One implication of this situation is the affect on contingent offers.

Sellers today who have decided to move up or downsize find not only a more limited selection of properties for sale but are also discovering that an offer contingent on the sale of a property is not likely to get any consideration at all. As hard as it is to say, an offer contingent on a sale is not a real offer in most sellers’ minds.

So what does this mean? Buyers already owning a property must sell before they buy. Now that’s a scary situation for most. Scary yes, but also a market reality. There are ways to mitigate the issue with extended occupancy or temporary housing but the pressure is still there.

Seek out the counsel of an experienced Realtor and put a plan together that will meet your needs but be aware of the challenges this market is presenting.