It's just one example but how about this - it's also our fifth sale since election day. An old guy once told me, "The market is as hot as you want it to be!"
Thanksgiving Checkpoint
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Market Conditions
Momentum Building?
It looks like the NSDCC market will survive the usual end-of-the-year blues just fine. We should match last November's sales count (even with higher pricing), and combine that with the improvement in the days-on-market and it makes me think the momentum is building...
Fed Rate Cut
The Fed came through yesterday and lowered their rate by 1/4%. It caused mortgage rates to come all the way back to....7%. This is probably as good as it will get for the next few months. The market feels fairly balanced currently, with some tilt towards a buyer's...
Wait Until 2025….Or Sell Now?
We just had it happen. A potential seller who had decided to wait until next year had not one but TWO competing new listings hit the market nearby. Both listings were priced $100,000+ LOWER than what we were thinking. Ouch. When is the best time to sell your home? It...
Zestimates in 2024
Borrowing this from Rob's blog, this is known as Amara’s Law in technology spheres. It goes: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.” When the zestimates first came out in 2006, their accuracy...
Changing Market Conditions
The presidential election is less than 60 days away and even if one of the candidates is a clear winner at Tuesday's debate, the fight will get nasty from here on out. The distraction is likely to cause potential home buyers to want to wait-and-see. Thankfully, the...
Looking Forward to Next Year
Can we learn about what to expect in 2025 by reviewing the other recent metrics available? Here are alternative ways to gauge the market conditions - the most interesting numbers in red: Number of Sales - Just incredible that out of nowhere the July sales set the high...
NSDCC Under List
During the frenzy there were months where 70% to 80% of the sales were closing over their list price. Recently it's been down to around 25% of the buyers paid over the list price. How many paid under? We're in an affluent area so let's get our money's worth. How many...
The Rest of 2024
Here's why home buyers should be optimistic - as demand falls off, it will probably be a wide-open playing field for the rest of 2024! No seller is going to be dumping on price though, especially the sellers of the better homes that you want to buy. You gotta be able...
Lowest Rates of the Year
Mortgage rates plummeted yesterday, making people wonder if the housing market will perk up for the rest of 2024. Getting a lower rate will be a nice sweetener, but buyers aren't going to overpay just because their payment went down a couple of bucks. Just the...
