Previously I said that buyer-agents are getting cut out of the action. There are so many reasons why: Commissions are grinding down. Buyer-agents have to sell more, to make the same $$. Working at higher price-points requires advanced skills. Can agents improve? Are...
Mike is one of the more level-headed analysts, probably due to the wealth of national data he processes. There will probably be a solid undercurrent of activity as evidenced in the graph above: Mike's tweet: Prices, meanwhile are still strong. 5 bidders instead of 50...
Economic_Forecast_May_22 We're going to be hearing for months about how sales are dwindling. It's mostly due to comparing 2022 stats to last year's numbers, which were the most frenzied-up numbers ever. But it is also due to it being a market for the affluent now....
Another cash buyer paying 8% over list - and this was a month after rates hit 5%:
Our new listing in NE Carlsbad with some commentary on market conditions:
The new market conditions will bear some resemblance to the past, but to believe that real estate sales will be 'getting back to normal' some day would be full of false hope. Rob Dawg said it long ago - we need to abandon all previous assumptions. Let's start with...
I mentioned that we could be seeing a pause in the market, and for prospective home buyers, there are plenty of reasons to take a rest: Mortgage rates starting with a 5, not a three. The S&P 500 and Dow are down 15.9% and 11.3%, year-to-date. The list prices of...
Imagine the pricing quagmire we are in. The homes on the market today were priced according to comps from 1-4 months ago, which were the craziest-priced sales in the history of real estate. To make matters worse, sellers are naturally drawn to the highest-priced sales...
Even though real estate is local, the homebuyer psychology tends to be similar across the country - mostly because people are people, and have similar reactions to every variable. When they see mortgage rates go from 3% to 5.5% in less than six months, it's only...
Will April be the peak month of buyers paying over the list price? NSDCC Detached-Home Sales, % Closed Over List Price Hard to imagine that there will ever be another month where nearly three-quarters of the home buyers end up paying over the list price!...
