Wanted: Experienced Realtors…

Just like other areas of life, there was a recent push to replace experienced real estate agents with “millennials”.  The thinking was that millions of home buyers would be people in this age cohort, that they would be THE buyers and that they would want to work with agents who were their peers.  Well that wasn’t on target, to put it mildly.  Many of the younger buyers are renting and paying off college loans, or even staying at home with Mom and Dad…not buying.  Real estate planners shouldn’t feel bad; retail made that mistake too.  Many of the millennials are educated, savvy, street smart and skeptical about anybody wanting their sparse cash.  They want details, they want to know their agent has a solid knowledge of the market and is well capable of walking them through the jungle of tasks associated with buying and selling a home.  In other words, millennials expect to be leaders and as such, their real estate agent had better be qualified to take that lead.

Millennials who do buy are not usually in the higher end market; rather, they are usually in the first time buyer and first time move-up buyer price range.  They, and other who ARE buying in the high end market do not want a “millennial” guiding the transaction.  Well, I’m a 10,000 foot view person.  I saw this stumble coming a mile and a half away.  Don’t get me wrong; I love young people.  The ones I get to meet and work with are very smart, very motivated and very sensible about buying.  They give  me hope for the future.  But young real estate agents are not well rounded, confident and knowledgable about the market just yet.  They deserve to grow and build a skill base, yes; but that doesn’t negate the value of experience.

So some of the same companies who were nudging the older agents aside are now actively recruiting experience.  It’s a shame that experienced agents are often overlooked by the ‘planners’ of the future of area market movement, and that that experienced agents are re-noticed only when the cavalry is needed.  But that’s how it goes.

My advice to you is this: Realize that you are making one of the largest transactions of your life, and that you should put that transaction in the hands of experience and knowledge.  That doesn’t mean someone who made a high score on the test, although that’s important.  It means someone who understands the nuances of the market beyond what the publications say.  It means someone who understands that prices in neighboring communities can be very different and why.  It means someone who has experience with inspectors and builders.  It means someone who knows how to spot hidden potential issues.  It means someone who knows what’s worth worrying about and what is not.  It means knowing the importance of pricing and how it impacts the overall market.  It means knowing how to put the most cash in your pocket at the end of the day.

I decided to write about this subject today because I have been working on a market analysis for the last several days, in a new growth-spurt area, where prices have jumped significantly in the last year.  I want to push my list price as high as I can…and be able to have it appraise at that value when the time comes.  This of course prompted a deep dive into that area and into that community, and a subsequent spreadsheet…mine, not a canned product.

One of the values I use, LOOSELY, I might add, is price per square foot.  And while this is the WRONG WRONG WRONG value to use in pricing a home, it does give you a nice snapshot of market activity at-a-glance, and it can be quite eye opening.  It was for me.  In my area of interest there were 3 of 14 homes I studied, which had VERY much lower sold price-per-square-foot.  This prompted me to look at the listing agency AND agent, and each case, the agent was inexperienced.  This costed the home owners/sellers a lot of money they could have made on their transactions and it hurt the overall market.  These low-ball prices will be put into the “comp” pot, and will be used by appraisers in pricing other homes for mortgages.  And this tells me nobody’s guiding these agents appropriately and nobody has told them the value of strong pricing.  Nobody has shared with them that listing with strong prices raises the entire market, which is actually our job…to protect the market.

So, while other home sold in the 118.00 price per square foot, these homes sold at around 108.  That adds up.  To loss for the sellers.  The moral of the story is this: If you hire inexperience, it will cost you.  You may never know it…which would be the best scenario.  If you do know it, you have to wonder where else you got short-changed.

I need to also say that sometimes it pays to price low if a quick sale is needed…for the SELLER, not the agent.  And that’s all I will say about that.

Bottom line: Be sure your agent is experienced enough to be a strong, successful advocate for you.  That’s what you are paying for.  This isn’t an opportunity to be trendy; this is your money at stake.  Experienced agents will understand that.

 

TIME TO SELL!

I can’t tell you how many times I search and search and search for ranch style homes under 300 thousand and ANY homes under 180 thousand in Raleigh…to no avail!  These homes just don’t exist in the more sought-after areas and in good shape.  In fact, I can’t even find fixer-uppers anymore.  They are being nabbed by house flippers!  I doubt we will see this strength on the seller side again in our lifetime.

This an opportunity for potential sellers to top-out on selling price…in some cases the homes will NEVER be worth more than they are RIGHT NOW!  Interest rates have dropped, people are ready to buy, everyone understands that they need to be pre-qualified and are doing it ahead of time…WHERE ARE THE LISTINGS??

I need listings, yes, but the bigger issue is that sellers FINALLY have the pendulum swung to their advantage and they’re not capitalizing on it!  Remember when you had to hand over your firstborn child in order to get a buyer for your home?  Well it’s the other way around now, just like I said it would be.  If you have any inclination to sell your home, this is the time to make the most dollars.

If you want to sell, contact me and I will do a market analysis for you.  You will be surprised.  Happens every time.

 

MARKET STRATEGY FOR THE TRIANGLE

If I said it’s a crazy market would you think I’m repeating myself?  Well, it’s a crazy market.  There’s a housing shortage folks, which makes it the strongest seller market I have experienced.  For the first time in my experience, all of my buyer clients (and one seller) are BUILDING their next home.  That’s because…duh…there’s as housing shortage, and people can’t find a home they want to buy!  If they find one, there are five offers on the table already! ALERT!  TIME TO LIST IF YOU ARE THINKING OF SELLING!!  I’ve said that so much I’m out of breath.  Again, you can make the MOST on the sale of your home now, while there are people clamoring for a great home to buy and who don’t want to wait six months to build!

Remember when I said I couldn’t wait until the pendulum swung back to center?  When I was tired of my sellers getting the pants beaten off of them?  Well, I’m glad alright.  Sellers are now in control.  Like I said, the universe WILL balance.  Never fails.

But like always, there’s a “but”.

I find that many real estate agents negate the power of supply-and-demand when pricing homes to list.  For example…one-level living is the hottest thing going right now, except for senior living communities…which are also one-level living.  So if you have a ranch style home, you are in the proverbial cat-bird seat.  Now that only applies if you home is marketable.  I’ll explain later.

Back to pricing:  Yes, look at the price range of homes in your zip code and focus on your comps.  Then search for ranch style homes in the MLS AREA, and see how many ranches are out there.  If you find ONE or NONE?  Instant benefit to you, Seller.  You may now price at the high end of the range and expect to get it.  I recently had an agent lambast me in her feedback telling me that my listing was priced TWENTY THOUSAND too high. Well, we sold that house for the price I set.  Booyah!  Pricing is my strong suit folks.  I get it done.  If she had listed the house, well, not a happy face on that one.  And it would have hurt the market for the community too.

When you meet with me, I will ask you this, “What is your selling goal?”  Now that might sound stupid, but bear with me.  If your goal is to get rid of the house FAST, that initiates a different STRATEGY for pricing your home.  In other words, we might aim a bit lower in price, or come up with some enticing concessions.  But if your goal is to get every last penny the market will allow for your property, well that’s another STRATEGY, and its my favorite.  That means we price you at the high end of your range, but we expect to MAYBE take a bit longer to sell.  I don’t know about you, but I’d wait two or three more weeks to net 5 grand.  If you are not in a rush, relax and focus on your bottom line getting BETTER.

If your agent doesn’t talk strategy with you…ask why! There is more to pricing your home than pulling up some comps and taking an average!  Supply and demand MUST be considered!  If you have the only ranch style home with an acre or more lot in the whole area?  You just hit the jackpot on pricing; I don’t care what the other homes went for.

Understand that pricing your home is a many-faceted operation that takes time, it takes knowledge of the greater market, your LOCAL market…which sometimes means your exact community…and it takes an understanding of what you, the seller, want to achieve.

My goal in any listing situation is to get you, the seller, every penny I can get for you on pricing.  But if you just need to move on, we can change that strategy.  It’s a team effort and your agent MUST know your needs, not just how to average the sale price of three properties sold in the last three months.

Now, back to having your home “marketable”…People sometimes hate to hear this, but here is the cold, hard truth.  If you want TOP DOLLAR for your home, it MUST be in top dollar CONDITION.  That means you have to roll up your sleeves and do some cleaning and re-arrange or maybe even remove some pieces of furniture.  Remember we look at houses ALL THE TIME.  We know what sells and what doesn’t.  You HAVE TO DECLUTTER.

Buyers are buying space, not your decor.  Don’t fault the professional real estate agent when she tells you what you have to do to get top dollar.  Is your decor worth ten thousand dollars to your bottom line?  I’ve seen people say yes to that time after time!  Amazing!   I don’t have that kind of money to spare, how about you?  If you do, don’t worry about making your home “marketable”.

So…remember that if you want top dollar, the house must be WORTHY of it. If you are not willing to put in the sweat equity to get top dollar, do NOT blame your real estate agent! Instead, look in the mirror.  Remember that selling your home is a team effort and you…let me repeat…YOU are one half of the team.  So get involved, know your strategy, and get that home spiffed up to garner the best price!  If I’m your agent, I’m going to work very closely with you to get you that price.

Let me just add one more thing: Don’t start getting antsy.  If you have chosen a savvy real estate agent who has clearly understood your needs and laid out a great pricing strategy, listen to her and settle down.  Selling a home is nerve wracking I know, but you will shorten your life by pacing around being nervous.  Relax and let the strategy work.  You can count your money and your blessings later, trust me. And if you can’t trust your agent, you’ve got the wrong agent.  Just sayin’.

Are You Sitting On a Goldmine?

The universe balances; what goes up must come down; if you don’t like the way things are, wait a minute for the change.  Same is true for real estate.  Remember when it was a strong buyers’ market, such that sellers had to jump through multiple hoops just to have a CHANCE to sell?  Not anymore.

It is now a strong seller market, particularly if you own a one-level home with half an acre or more.  In Wake county and surrounding areas, it’s very hard to find a ranch-style home with a big yard.  If you can find one, it’s expensive!  So chances are, if you are the owner of a property like I just described, your property value is higher than you think!

Add to that the fact that interest rates are still low AND lenders have loosened the process to make it possible to get a loan now, even with no money down, and  you, homeowner, have a chance to capitalize on your investment in a big way.  If you are ready to up-size or downsize, and you own a ranch style home with some land, think about listing now.  You might be surprised what your home is worth…so don’t underprice it if you list.  Supply and demand DO make a difference.  Hire a realtor who understands this concept.

Email me and let’s talk about your property. I’d love to meet you and I’d love to list your house.

Interest Rake Hike

Well, we’ve been on the roller coaster of opinion about a rate hike for some time.  Latest news is that there won’t be one…but there might be one by year end.  I wonder how much it cost to have all of that discussion in the ether…but I could have done it free, right here.  MIGHT be one?  Please.  Seriously, I could have said that.  I DID say that, in fact.

Janet Yellen had some apparent brain “pauses” in her speech and was, according to CNN, seen by doctors when she finished.  It takes a lot out of you to predict the future politically correctly, I guess.  I’m not having any brain cramps, spending no money, and I can tell you exactly what will happen.  Here goes.  Note that I don’t have any wolves at my door that I know of.

OK.  Cracking my knuckles.  Here goes:  As soon as the “FED” decides they can successfully take more money into their coffers, they will.  There.  Not dehydrated, not feeling dizzy.  I’m good.  But make no mistake about it, the powers that be know that if they MENTION rate hike the economy…our THRIVING economy…goes running for the hills.  We have NOT recovered from the fall, we are not back to the pinnacle.  We’re not ready.  And I’m guessing that many of us have decided that its a good idea for us to keep more of our hard earned money, rather than sending it out in interest.  Call me crazy but I think that’s ALWAYS been a good idea, although believe me, I’ve paid my share of interest.

I have heard a hundred people say they don’t do credit cards anymore.  Why?  Interest.  People are buying so many homes there’s a housing shortage.  Why?  Interest.  It’s LOW.  How stupid do you have to be to think that the very thing people AVOID would be a good idea to INCREASE…for the economy?

Watch these people.  Watch how many times they threaten to raise rates and then back down because the ‘economy’ runs for the hills.  They’re testing the waters on a regular basis.  When the economy really IS strong and people have confidence it will stay that way?  Then it will be time to raise rates.  In the meantime, if you’re thinking of buying or selling, do it now before they pull that trigger.  Great time to list while there is a housing shortage…and to buy while rates are…I can’t believe it’s been low so long…low.

Do something joyful today.

Recent Hot Market Effects…

Hello again!  I hope your life is going well for you and that you are finding time to do things which bring you joy.

As you know, I am a real estate agent, and somewhere along the recent past I made a comment about what to be aware of in the coming months, with regard to the crazy real estate market.  Well, some of the things I feared are showing up, just as I predicted.  For example, heightened emotions due to multiple offers are definitely in play.  Emotion is not a great idea in a business transaction.  Hard to eliminate, to be sure, but never should emotion lead the way.   I cautioned real estate agents to advise their clients well in that regard, to prepare them for the inevitability of multiple offers and even offers above list price.

I tell my clients to know their limits, discuss them with one another, and be prepared to walk away from an overheated offer situation.  They know before we get in the car, what they are facing and how they will probably react.

It’s funny how people might be ambivalent about a particular home until they know someone else is interested.  If you, as an agent, see that phenomenon, it’s up to you to be the good advisor and make sure your client hasn’t gotten caught up in the competition, that they truly want the house.

And let me also add this: real estate agents are not immune to getting caught up in emotions.  It’s your job to guide, not lose control.

The other issue I cautioned about was homes not appraising for the elevated offer prices.  And now that’s also happening.  Listen, it is up to the realtor to know the market and know when an offer just won’t fly when it comes to the lending part of the equation.  Yes, it feels good to have your offer accepted over the others, but you had better know what to do and how to explain to your excited clients what happened, when the appraisal comes in low and the deal falls apart.  And if you get crazy with the offer price, it will.

Of course sellers want to get every penny they can from the sale of their house…and they should… but listing agents, you need to make sure they understand the implications of an above-list-price offer if it falls through at appraisal.  In other words, it’s not just buyers who need to be prepared.

Okay, here’s another issue.   EVERYBODY is busy.  So inspections take more time, repairs take more time, and underwriters take more time.  If your realtor tells you he can sell your house in 3 weeks and a mortgage is involved, or repairs are involved?  Fire him.  Any good agent knows that service providers are no longer sitting around waiting for the phone to ring.  They are busy and your request will be put into their queue.  DON’T RUSH THE TRANSACTION. Nobody benefits from that.

This market is going to be hot for a while; it takes a while for the pendulum to swing.  Knowledge is power.  Know what to expect and plan ahead.

Due Diligence in Real Estate

1
:  the care that a reasonable person exercises to avoid harm to other persons or their property
2
:  research and analysis of a company or organization done in preparation for a business transaction (as a corporate merger or purchase of securities)
That’s the Merriam Webster definition.  Neither really clearly defines the way due diligence works in real estate, but it’s a period of time the buyer ‘buys’ to do inspections…all of them…and also to get their loan application done. Usually takes about 45 days.
I’m finding that buyer clients are not usually clear on how this works…and neither are listing clients most of the time.  But Due Diligence in real estate is the period of time the buyer uses, and pays for, by the way, to search through the nooks and crannies of a home…and pay for inspections of them…before taking the step to actually put both feet in the game.  Buyers can spend a lot of money during this time, and a lot of stress equity wading through the inspection results.  During this period, buyers can walk away for any reason…or NO reason…and stand to lose only the money they invested in due diligence fees and inspections.
Buyers, particularly first timers, usually get very upset when they see the inspection report, even if they’ve been told what to expect.  Here’s how it goes:  The older the house, the longer the report.  The longer the report, the more freaked out everybody gets.
I have decided it’s all about expectations.  Bottom line is this: Don’t expect an older house to have a three page inspection report.  Older houses have older house issues, not the least of which is that it’s not a new house.  It’s a great idea to have this conversation right up front, even before you find ‘the one’ that the buyer wants to make an offer on.
Anyway, the buyer benefits greatly from this period of inspections, but the seller needs to be aware that if a ‘disclosure’ issue is uncovered during inspections, they must then either disclose the defect, or repair it.  And it’s a no-brainer that it’s better to do the repair.  Are we hearing dollar bills rustling, or is it just me?  Oh, and the seller can also take the house off of the market, by the way.
So bottom line is this, I’m thinking:  Buyers need to have clear expectations of the inspection results based on the age of the house, and sellers should have a home inspection done, including the crawl space, before they list.  That way nobody gets surprised.
Scratch that.  Everybody gets surprised.  It’s real estate.

Hold On Just a Minute

It’s not COMPLETELY a seller market in the Raleigh area. It’s GETTING there, but hold on.

First let me say that I understand how badly sellers were beaten up by buyers in the real estate downturn. Downturn. That’s putting it lightly, to say the least. But I get it. I saw seller after seller either have to PAY to sell their home, or give up entirely on the whole idea because they couldn’t afford to sell. And the buyers…holy cow. They wanted sellers to replace perfectly good carpet, paint for no good reason, encase the home in a germ-free bubble and wash the buyers’ cars and dogs. Okay. I’m stretching things a little bit. But you get the idea. Long story short: Sellers gave and gave and gave and buyers took and took and took. But…the universe will balance if you just give it a chance.

NOW, with a housing shortage in many areas, and new construction roaring back with a vengence right along with soaring prices, the market is turning and sellers have grown fangs. No, it’s true! Look for yourself! They are in the mood to get even. But sorry seller; you cannot expect a buyer to make up your financial loss when you bought at the top of the market JUST before it crashed. It’s not their fault and it’s not their job to rescue your finances. They want to buy your house. That’s it. Question is, do you REALLY want to sell it?

Part of me doesn’t blame the sellers. Who’s in the catbird seat NOW, mister buyer? Well, nobody really. It still all boils down to what one person wants that another person HAS, and how the parties arrive and a mutually acceptable solution. Nobody’s supposed to walk away with bruises, either on body or ego. It’s business, people. Oh and by the way, sometimes it doesn’t work out and that’s OKAY. If everybody isn’t HAPPY, then EVERYBODY doesn’t have to play. That’s OKAY!!

But I’ve watched, over and over, perfectly sane people…GROWN people I might add…arguing over a hundred bucks. When you’re talking about several hundred THOUSAND dollars on the table, isn’t it kind of strange to quibble over 100 bucks? But sellers are doing that AND SO ARE BUYERS.

Well now it’s my turn…because it’s my blog, after all. heh heh. But hear me out. THEORETICALLY, the seller actually WANTS to sell and THEORETICALLY the buyer wants to buy. Wow. Perfect recipe for success. What happens? People let emotions get ALL over the place. And…and this is the most prevalent problem: people who are not LICENSED, professional real estate agents try to be professional real estate agents. And they get in the way of an otherwise smooth and successful transaction, and they put the REAL professional in awkward and sometimes unethical situations. People! Let the advisor you PAY for ACTUALLY be the advisor. How crazy is it to PAY for advice and then not take it? IIII’m smiling now. It’s pretttty crazy!

Please listen to your realtor whose job it is to explain the MARKET MARKET MARKET to you. The MARKET MARKET MARKET dictates the value of your property, not your emotional attachments AND NOT how much you paid at the top of a bubble market.

Okay…and..the days of real estate transactions having to be nasty are O-VER. That kind of behavior is OLD SCHOOL real estate. Now, there are LAWS in place, and legal documents in place to take the backstabbing and nastiness crap out of transactions, if people would just stop being silly. Oh and here’s a good idea: READ THE CONTRACT YOU SIGN. You made an AGREEMENT, which you SIGNED. Don’t come back and gripe about a hundred bucks and please don’t take the lockbox off because you didn’t like the inspector! And don’t take out the stove and vinyl flooring because you think you got low-balled. Oh my God.

Talk with your Realtor; be a real team together. Vent, growl, let smoke come out of your ears…and then come up with a plan that makes you feel good about things and do that. Your agent SHOULD help you with that. And your agent should tell you when you’re being unreasonable and when you’re being an ass. Sorry.

Here’s the thing about me: I’m VERY good at what I do, and I refuse to play stupid old-school real estate ‘games’. My job is to advise you, my client, set the RIGHT expectations about what the MARKET MARKET MARKET says, and to protect your negotiating position. It is NOT my job to “fight for my client”. And it is not my job to be yelled at…by anybody involved in the transaction. I’m NICE. I’m very very VERY good at what I do AND I’m nice. Any time you hear a Realtor say he/she will “FIGHT” for you? Run. In fact, just run to me. I win without fighting. Do clients sometimes walk away? Yes, they do. Because sometimes both parties cannot come to an agreement and that’s how it is; it’s okay; it’s how its SUPPOSED to work.

Now. Why did I say MARKET MARKET MARKET, repeatedly and in all caps? BECAUSE people do NOT LISTEN. Heads up: the MARKET sets the value of your home. NOT YOU, NOT YOUR AGENT, NOT YOUR AUNT BETTY OR YOUR TWENTY INEBRIATED FRIENDS. The MARKET MARKET MARKET sets the price. Now, do people SOMETIMES pay more than the house is ‘WORTH’ according to the market. Yesssss they do. BUT ONLY if they plan to live there forever, if they will die if they don’t have YOUR house, or they plan to make a KILLING on it as a rental property.

Here’s another thing: You can price your home WAY above the MARKET MARKET MARKET value, but it won’t APPRAIIIISSSSE. Somebody’s gonna go out to your house and appraise it. And then the bank will lend a portion of that appraised value on that property and AAANNYTHING over that appraised value is coming out of SOMEBODY’S POCKET. Probably yours. OR THE BUYER WILL WALK AWAY.

Price at the market, get the house sold, or keep making payments and payments and payments while the cadre of buyers goes elsewhere and spends their money. If you insist on over pricing, DO NOT BLAME YOUR REALTOR when you get no offers! Buyers know what the MARKET MARKET MARKET says your house is worth before they ever set foot inside it.

And stop asking your Realtor to pay for things. We work our buns off for you, and this is how we earn our living. Most of us give you a discount up front these days (count your blessngs because those days are numbered), so don’t ask us for money. Unless you want to give us the opportunity to come get some of your paycheck next week. We are ALWAYS on call, never get a day off, always work holidays. Keep that in mind.

And yet…I still do this job and I still love it. Why? It’s because of the people I get to meet and help. It’s all about my clients. ALL about them.

On Being a Good Advisor…

Any good real estate agent is also a trusted advisor…or should be. Our advice is based on years of experience and heaven knows HOW many hours of classes and training and updates.  I know:  You can get a BOAT LOAD of information from the internet.  But listen up: That’s not good enough.  Here’s why.

A good real estate agent will know things about rules, the law, building code, builders, different areas and what that means to commute times and shopping, how homes are built and what to look for to find hidden issues, things you won’t find online.  We’ll know how to negotiate: when to hold and when to fold.  And I can’t say for sure, but I’m willing to bet my accuracy is better than most of the automated valuation systems when it comes to pricing a home to sell.  Your agent will have had boots on the ground where the internet has not trodden, and your agent will know things about buying or selling that the internet cannot convey.  So it doesn’t matter what kind of phone you have, which internet provider you use, what iteration of I-pad you have.  Your agent will win the competition.  Or at least this one will.

In other words, it would behoove (cool word) you to avail yourself of your agent’s expertise and realize that there’s one real estate agent in the car…and it ain’t you.  Yeah, I said ain’t.  I like that word.  It has personality.  And I’m a bit arrogant that way. I think I have a good enough grasp of the English language to tweak it when I want to.

But I digress. Bring along your smart phone because if you ride with me, you navigate.  I don’t want you to be bored.  Bring along your notes, your ideas, your opinions, because they matter.   But remember to ask a lot and don’t act like the realtor. 

I want my clients to be smarter than me in case we break down and I need someone to figure out the computer system operating my car…or to feel brave about finding a nearby repair shop.  I want my clients to be able to discuss the Hadron Collider with me or the latest news about time travel.  But I do not want them to try to be me.  First of all, they can’t handle it, and second…and seriously here…I’m the real estate agent with the license and training…and I’m very good at my job.  Let me do it and you?  Relax and enjoy the tour.  I promise to take good care of you.

 

Shrinking Inventory in the Real Estate World

The Perfect Storm is looming.  Interest rates are creeping up; housing inventory is shrinking; people are rushing to buy, people who were on the fence for some time.  It’s turning into a seller market, for these reasons and one other one that’s HUGE.  Multiple offers are commonplace.  Great for sellers.  Not good for buyers who are used to insisting on paint color being perfect before they even buy, carpet being new in a ten year old house, the right smell, the right temperature.  Sellers, celebrate.  Buyers, take a deep breath.  The world we knew a year ago has flipped.

When sellers have multiple offers on a home you really love, suddenly their repair budget shrinks or yes, even disappears altogether.  Some offers are high with ZERO concessions.  Suddenly that decor isn’t so bad after all, suddenly sellers are smack dab in the middle of the driver’s seat.  And folks, as inventory continues to go away, it’s going to become even more dramatic.

For so long sellers were put through the wringer trying to sell, and now it’s about to swing strongly in the other direction, moving so quickly through the middle ground we’re likely to miss it.  If you’re a seller, it’s a great time to have your home listed.  Buyers, better get busy, because not only might you have to compete with several others to get the home you love, you’re going to pay a lot more each month as interest rates creep up.

I said, some time ago, that one truism is that the universe WILL balance.  It happens in all areas of life, and it’s happening in real estate now. Don’t you feel it?  Exciting times.  Don’t miss out on the still good prices and interest rates, people.  We’re about to see house prices, first on new construction, take a big leap.

Call me and let’s get busy!