They feel like the good old days but it was only 4-5 years ago that we could count on 200-300 listings priced under $2,000,000 to hit the market every month. It caused some complacency and pickiness among buyers, but now that the choices have narrowed so quickly,...
How did the local home prices go up 40% in two years? The low rates helped buyers lose their minds, but it was more attributable to how we price homes. When there was a sale that was 10% or more above comps, it became the new standard - and made the next seller so...
The active (unsold) listings keep stacking up, and the pendings are drifting off - which means sellers are content to let their price ride, rather than adjust. They're not going to give it away! NEWS FLASH: We are running out of time. Next Saturday is July 1st! In the...
The United States is full of beautiful small towns. Though large metropolises like New York City, Chicago, Los Angeles, or Washington, DC, are often thought of as culture and beauty capitals, this doesn’t mean other locales can’t be beacons of these qualities too. All...
My thoughts below on how this year should wrap up. Buyers don't have any reason to rush anything because rates and prices don't seem to be going anywhere over the next few months. It will cause them to be extra picky which will tempt everyone to look ahead to the next...
NSDCC SP:LP Ratio The hyper-frenzy days of a 109% ratio between the monthly median sales prices and median list prices are probably long gone....much like 3% mortgages! It is remarkable how the SP:LP ratio has bounced back. Buyers are paying the money if they find a...
Yesterday was Donna's birthday so I took her to Red Tracton's last night - the only place I know that has prime rib during the week. Reader Peter O. was nice enough to say hello, and I wished I had a Bubbleinfo t-shirt to give him! I've been thinking of printing...
Home flipping is all the rage, and it complicates the demand for old houses and fixers because there are more flippers than buyers pursuing them. Agents get calls, texts, and emails every day from flippers begging to buy their listings. They offer to have the listing...
This was filmed during broker prview and Portia marked it pending the same day. She did pretty good for an older house on a busy street - her sellers bought it from a flipper for $880,000 in 2016:
The number of active (unsold) listings has been on the rise, and is now 13% higher than it was a month ago - though I would still characterize the current market conditions as steady. Compare your stats from this month to last June and July when higher rates had begun...
