It never occurs to agents to properly conduct a bidding war where the market decides the winner. Instead, they choose the easy route and just collect offers, itemize them on a spreadsheet, and then point out a winner to the sellers. It is an ego-boosting choice that...
Mortgage rates have settled down nicely, and are back in the high-2s for those home buyers who don't mind paying a half-point or so (those quoted above are with zero points paid). Not sure that it matters. Not sure that anything matters any more. I had a great...
Rick is the Director of Research at JBREC and a great guy: https://twitter.com/RickPalaciosJr/status/1384951354460971008
If you haven't ventured into today's home buying experience yet, this is what it's like:
The author first explored this topic in 2015, and this follow-up article was published in February: Welcome to the Brave New Housing Cycle: Factors indicate that an extended housing boom is underway. A new long-term housing boom is upon us. And COVID-19 is the main...
Yesterday we saw that more than half of the NSDCC houses sold over the last couple of months have closed for a price that's higher than their list price. Another difference from previous years is the efficiency. Typically, there are only around 55% to 60% of the...
The trend of paying over the list price continues! NSDCC Detached-Home Sales, % Closed Over List Price January: 38% February: 43% March: 53% 1/2April: 57% Most sellers and agents are happy just to get 1% to 5% over list. There were only 18 of 173 (10%) that sold for a...
Last week I mentioned that because there was a drop-off in pendings, we might have hit peak frenzy. But I didn't consider the usual spring break lull - we're right back at it now: Two Weeks Ago: Actives: 334 Pendings: 362 Last week: Actives: 357 Pendings: 344 This...
For those of us who didn't make to the beach today, this will have to do - from 2011: This townhouse sold for $2,400,000 in 2006, for $1,450,000 in 2012, and $3,200,000 in 2016. Bobby had sold it in 2000 for $1,050,000.
This week we heard the the news that homes.com was acquired: Homes.com has a similar business model to massive real estate website Zillow, at least as far as Zillow's core business goes. Homes.com is a property listing portal that helps agents and brokers market...
