This isn’t a normal year. Everyone in the industry is talking about it. It’s news, not hype.
There’s 25% less inventory than this time last year AND more buyers! Why? Everyone thinks that they need to put their home on the market in May and June when school’s out. Guess what? Those rules may not net you the most money this year.
The Fed has been forthcoming about increasing the interest rate and they’ve hiked the rate once but they warn there are at least 2 more rate hikes to come. So buyers are ready and able to buy but the houses are not there. We’re at 1.3 months of inventory right now. We have an unusual shortage of homes right now.
If you’re a seller, understand that this isn’t a normal year. While the majority of folks are waiting for the “traditional” start of the selling season which begins at the end of April and goes throughout the summer, some smart ones are doing whatever it takes to get their houses prepped and on the market. If you have a one story home or a home that functions like a one-story, you’re even more advantaged! Here’s a little known secret: you can rent back for a couple of months until your kids are out of school or you can find a replacement property. We’re seeing crazy multiple offer situations – 8 or more offers on a house! Wow!
If you’re a buyer, call me. I find homes that aren’t on the market and negotiate offers off the MLS if necessary.
On Wednesday, I’m holding my first client party with food, drink, interactive fun, and prizes. Looking forward to seeing those of you whom I’ve been privileged to assist with a real estate transaction. I’m looking forward to planning more fun events in the future too! There’s always room for more at the party! Let me know if I can help you reach your real estate goals now or in the future!
Congratulations to Jim and Lavaughn for purchasing a great home within walking distance of Jesuit where your son goes to school! Securing a home close to school hopefully will net you more family time and less commuting! Thanks for trusting me to help you on your home buying journey!
Re: my CORRECTION email: Highest readership of all my blogposts. It must be something inherent in human nature to see someone make a mistake! Geez! I hate making mistakes, but glad you read it! J