Remember that time when…?
Remember that time when homes took 60 – 80 days to sell rather than 12?
And there were 2,000 – 2,500 active listings per month rather than 900.
Sellers put their homes up for sale and the initial offer was $40 or 50,000 below asking. Then negotiations took place and they sold for $24,000 under asking? Emphasis on under asking.
On the weekends, open house signs dotted street corners all over the city. (Side note: open houses were when people used to leave their home on a perfectly lovely Sunday afternoon so their Realtor could stand in their kitchen and welcome unknown strangers through for 2 hours straight. True story.)
People made offers conditional on the sale of their home, otherwise known as “Sale of Property” offers.
Sellers experienced a painful lesson in patience or the perils of not having any. Buyers had choices. Quite often, they had a lot of them.
Remember when mortgages (and money) weren’t outrageously cheap? Numbers mattered and more importantly, so did a great mortgage agent.
It was a time when your Realtor didn’t really have any news to share. A time when showing feedback mattered.
We had conversations about making repairs or replacing items that were in disrepair. Placating a buyer’s needs mattered.
Deals fell apart because the buyer lost their courage. Or saw a better option arrive on the market.
Remember when things weren’t quite so predictable, and no one was really sure what a home would sell for?
Well, if you weren’t already aware, all of the above market characteristics are back. And some of them are back with an exclamation point!
If you’re struggling with how to maneuver through these new market forces, the
best next steps that you can take are towards someone who is familiar with all of the above.
An airline pilot flying through their first heavy thunderstorm may well do just fine. But, as a passenger, there is confidence to be had knowing that your journey is being handled by a seasoned veteran who knows what to do to ensure the smoothest path forward.
As we enter our 18th year as a team with nearly 50 years of combined years as Realtors (between the 3 of us), we would be happy to meet and discuss your flight path.