One of the top rated "Google Searches" for 2021 is "Are we in a housing bubble?". It's not surprising that for those of us who were in the housing crash a decade ago, there would be concerns about a repeat. The overall consensus is that NO we are not in a housing bubble and NO there will not be a crash. WHY? The main difference is that back in 2005-2006 we were actually Continue Reading
Is the Market Softening?
We are now heading into the second half of 2021! The BIG BUZZ phrase right now is "Market Softening". We are hearing it all over the place. Some people think that means we are now balanced, others think nothing changed, and a few people are still saying we are crashing. Let's look at a few stats to show what's really happening: New Inventory is UP 5.8% month over month Continue Reading
What it REALLY Means to Waive the Appraisal Contingency
Our Summer Market is in full swing! Below is a snapshot of May's Stats. No surprise, we still sit with extremely low inventory. This shortage is continuing to drive pricing up and days on market down. One tactic that many Buyers are using to compete in the bidding wars is to use a Full Appraisal Contingency Waiver. What does this really mean? A full Appraisal Contingency Continue Reading
February Stats – Luxury Market Increases
Time for our next Market Update. No secret... we are still in a hardcore Seller's Market. This Month's Market Question: Is it just the lower price points that are seeing multiple offers and considered the "Seller's Market"? Answer: Nope, not all. In fact, the Luxury Home Market has seen a very large surge in recent months. Now "luxury" means different things to different people. Continue Reading
Jan 2021 Market Update
The start of 2021 is continuing in the same path as the previous year. Very low inventory of homes is keeping us in that Seller's Market. Instead of going into the same details, this month I want to answer a question that I have been repeatedly hearing over the last few months: "Why is the Days on Market still in the upper 20's when we are seeing homes go under contract in just a Continue Reading
November 2020 Market Stats & Buyer Trends
As we come into the final month of 2020 our market remains very much as it has all year long. We have less homes available for sale then we did in 2019 yet we are selling more homes. The demand for homes is high and the supply low, which means we sit in that Seller's Market. With our supply remaining low, the prediction is that 2021 will look very much like 2020 as far as the local Continue Reading
BINSR Negotiations – To Ask or Not to Ask For Repairs?
It’s BINSR Day on my client's potential new home. Let’s talk about the BINSR for a moment as I’ve heard a lot of rather odd statements from clients on this matter recently. The BINSR, or Buyer Inspection Notice Seller Response form is used to indicate what, if any, items the buyer is requesting the seller to fix after having completed inspections. Recently I’ve had a Continue Reading
Market Update – September 2020
Updated Market Stats for September 2020. Stats are showing us more of the same. We sit at or around a 1-month supply of homes which is extremely low, keeping us in that "Seller's Market". Trends I'm seeing being out and active in the field: Sellers - Pool homes and those with updated interiors are still going the quickest. This doesn't mean you need to remodel Continue Reading
How to Win a Bidding War
Many home buyers in this market are finding themselves smack in the middle of Bidding Wars. Often times Buyers are losing a few (or more) bids before they get the winning bid. So, what type of offers are winning? What can you do to help get the winning offer? Here are just a few tips to making a good offer. 1. Make a Solid Offer! This is not the time to lowball an offer. Continue Reading
June 2020 Market Update
New Look - Same Great Info - It's time for another Market Update! The stats are showing us that our market is remaining healthy. The homes that are being listed for sale, are selling, and quickly. With most main cities having a 1-2 month inventory of homes, I don't foresee this changing in the very near future. The Take-aways: Sellers: If you were on the Continue Reading
