The national media keeps questioning the strength of the housing market, but locally the sales and pricing couldn’t be much better – at least for sellers.
This is the early count – when the late-reporters are complete, the number of June sales should be close to what they were at the peak frenzy last year:
NSDCC Detached-Home Sales, June
Year | ||||
2010 | ||||
2011 | ||||
2012 | ||||
2013 | ||||
2014 |
We are overdue for a cooling off period – will sales and pricing start to drift off? Or will there be enough motivated sellers keeping their prices attractive that the market plows right through?
As long as rates stay around 4%, this could keep going!
Jim,
Happy 4th.
I suspect the pool of “needing to sell” is depleted and the pool pool of “reallly wanting to buy” is shallow. As much as I hate the term, plateau seems to be the way forward. That said, I expect a modest decline in headline prices; median and average but not because of weakness but because of sharper analysis of the products available.
Jim,
I wanted to run this by you. With the change in the current real estate market in the way buyers can see listing through external sites such as Zillow, Redfin, etc…..
There are websites now that allows sellers to input into the MLS directly for a flat fee $100. If the seller paid more commission to the buyer’s agent, maybe 3.5-4% would you, as the buyer’s agent work directly with the seller that is knowledgeable through the transaction? Or would you be hesitant to even submit an offer?
The $100 guys have been around longer than me. They haven’t made an impact because sellers who would hire a $100 agent aren’t motivated enough to get their price right, and won’t sell anyways.
No matter the knowledge or expertise, any FSBO is still the owner, and buyers and buyer agents will want and expect to share in the savings too.
Will agents be tempted by the bigger fee? Buyer agents know that they will have to do both sides of the deal, and most resent it. Deep down they aren’t real comfortable with the idea either, so they shy away. One in a while the higher fee might make them try harder, and they luck out.
If you are thinking of selling, compare the fee with the services provided. We know the $100 route is a slight negative, can you find agents whose service is worth paying for?
Mine is – give me a try.