The market is still going incredibly strong. Let me give you an example, (remember we are ending October), I wrote an offer this past weekend and we were competing with 42 other offers! Now, this house was a regular house, not underpriced, not anything spectacular, just your garden variety four bedroom colonial with a garage and finished basement. They are a dime a dozen in this area. Yet, with inventory so low, we cannot keep one of those types of homes on the market for more than a day or two. The fall market is not slowing down, even the election is not slowing down this market! Why? Well, at this time, buyers want to take advantage of the historically low interest rates and are willing to pay tens of thousands of dollars more than the seller is asking. Plus, they are foregoing the typical purchase contingencies just to try to be the lucky winner. So, this blog is a reaction to an article posted in the Realtor Magazine . This particular article talks about selling houses with ridiculous circumstances. Such as one house had pets included, another home needing the new owners to commit to continue traditions that the former owners had carried on for years. Sounds crazy, huh? But now, the sellers can pretty much name their price and more! If a house shows well and is marketed well (BTW, call us to make that happen), a seller can get top dollar and laugh all the way to the bank! The important take-away from this article is that this is the trend is currently in California as well as other sections of the US. My experience tells us that what happens in California is a glimse into our future. As crazy as it sounds, their market rolls across the US and becomes our market. If California is still experiencing this in October, I do not foresee a dropoff in our winter! Typically, less houses come on the market over the holidays. Many buyers are still looking to buy! This is going to force not only a seller market in the winter (which is extremely unusual), wait to see what happens in spring! Mark my words, my crystal ball says Rates will increase, there will still be buyers and the market will soar. Prices will rise higher and higher! All that being said, if you are thinking about moving, don't wait!
You could even buy now and then sell in Spring! I think that would be a good quick investment! Call us for solid advice in the Real Estate Market!