A report from the Reno/Sparks Gazette in Nevada. "'If you’re going fishing for a buyer…
This Post Has 6 Comments
From the first 3 minute video:
SARASOTA-BRADENTON-VENICE, FL
Seller FOMO this Fall? “Fear of Missing Out?
Aug 24, 2022 SELLER FOMO & BUYER BOGO? It was bound to happen. Well, at least the Seller FOMO part may be true. Now, months after the insane market of 2021, the pendulum bob has begun its trek to swing back the other way! We have passed the frenzied and perilous peak and the market’s cooling down.
And with all that – comes “SELLER FOMO!!! Yes, the FEAR OF MISSING OUT, has now changed partners!
The frenetic dance, brought on by the shift of the Pendulum oscillation, that once had buyers by the droves, bypassing two important, key contract elements, things like waived Inspections, and waived appraisal contingencies, is now doe-see doe-ing and swingin’ their partner round and round.
And now that the pendulum has begun to go the other way… away from THOSE VERY fortunate Sellers.
You know them,— your neighbors! Neighbor Bill who made that insane profit on a house he had bought just 2 years ago, you know – That $350 thousand dollar house that t just sold last month for 600 thousand? Oh yeah, neighbor Bill. Lucky Guy.
Now the buyers rule, they don’t have to buy, they have choices, they are being very selective and we are simply seeing a return to the way things were in 2019.
So Sellers, remember that! And remember that you can still get a healthy margin on the sale of your home, but if you want to sell instead of sit on the market, give some thought to at least a 3 to 5% decrease in your desired price.
The month of August alone saw many overpriced homes continuing to adjust downward. I saw that site that starts with a Z…Jello, willow, hello, anyway it starts with a ‘Z’
Anyway, I would see price reductions come in some days, ten at a time or more. That is just the way it is now. Real estate is not a fast-moving animal it takes time to slow down and when it does it’s a good idea to get ahead of the curve by price accordingly.
The good news is for our area, month over month, In Sarasota and Manatee, prices are still holding fairly strong, with maybe about a 1% dip in median sold home price in August.
The second 9 minute video:
Sell Now Or Wait? 5 Key Stats You Won’t See Anywhere Else That Can Help You Decide to Sell Or Not
Aug 24, 2022 Should you sell your house now or wait? Real estate market in the Toronto and surrounding area has been on a decline since April. I present 5 key stats that might help with that decision. I keep the sales bias out of it and present just the stats only.
How many listings expired, how many house listings were cancelled, how many homes sold over asking price. I cover all these and more in this video.
Hopefully you enjoy the content. Thanks for watching. If you need an honest agent on your side: Vic Singh
The last 16 minute video:
Proceed With Serious Caution In Brampton, Mississauga & Durham
Team Sessa Real Estate
Aug 24, 2022 Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Aug 11 – Aug 17, 2022.
‘An early sign the market may be cooling with home prices falling for the first time in 3 years last month. The .77% decline does not seem like much, but it was the biggest drop since January 2011. The data could be skewed with big cities in California seeing recent price drops as high as 10%.’
‘Toll Brothers Inc., the largest US luxury-home builder, cut its sales forecast and said it has increased buyer incentives to help navigate a slowdown in demand. “As summer is winding down, we’re going to continue to see better traffic, higher-quality traffic, but we recognize it is certainly more of a buyer’s market and we will act accordingly,” Chief Executive Officer Douglas Yearley said on the call.’
‘Among the weakest areas are such Covid boomtowns as Phoenix; Austin, Texas; and Boise, Idaho.’
‘Reali, the real estate and fintech platform transforming home buying and selling, announced today it will begin a shutdown and will be laying off most of the workforce on September 9, 2022.’
‘Co-Founder and Chairman of the Board Amit Haller said, “Reali was one of the pioneering companies to offer the ‘buy before you sell’ and ‘cash offer’ programs to homeowners. We believed deeply in benefiting the consumer foremost in every transaction. The six years Reali spent evolving the prop tech market in California helped elevate and transform the industry.”
‘Due to the challenging real estate and financial market conditions and unfavorable capital-raising environment, Reali determined the best course of action is to close.’
The six years Reali spent evolving the prop tech market in California helped elevate and transform the industry.”
Elevate and transform? Into what? A Cluster Group of companies burning hundreds of Millions of dollars. Oh yeah, now that is something to be really proud of!
Happy Valley, OR Housing Prices Crater 13% YOY As Soaring Mortgage Defaults And Skyrocketing Inventory Blows The Doors And Windows Off Portland Housing Market
From the first 3 minute video:
SARASOTA-BRADENTON-VENICE, FL
Seller FOMO this Fall? “Fear of Missing Out?
Aug 24, 2022 SELLER FOMO & BUYER BOGO? It was bound to happen. Well, at least the Seller FOMO part may be true. Now, months after the insane market of 2021, the pendulum bob has begun its trek to swing back the other way! We have passed the frenzied and perilous peak and the market’s cooling down.
And with all that – comes “SELLER FOMO!!! Yes, the FEAR OF MISSING OUT, has now changed partners!
The frenetic dance, brought on by the shift of the Pendulum oscillation, that once had buyers by the droves, bypassing two important, key contract elements, things like waived Inspections, and waived appraisal contingencies, is now doe-see doe-ing and swingin’ their partner round and round.
And now that the pendulum has begun to go the other way… away from THOSE VERY fortunate Sellers.
You know them,— your neighbors! Neighbor Bill who made that insane profit on a house he had bought just 2 years ago, you know – That $350 thousand dollar house that t just sold last month for 600 thousand? Oh yeah, neighbor Bill. Lucky Guy.
Now the buyers rule, they don’t have to buy, they have choices, they are being very selective and we are simply seeing a return to the way things were in 2019.
So Sellers, remember that! And remember that you can still get a healthy margin on the sale of your home, but if you want to sell instead of sit on the market, give some thought to at least a 3 to 5% decrease in your desired price.
The month of August alone saw many overpriced homes continuing to adjust downward. I saw that site that starts with a Z…Jello, willow, hello, anyway it starts with a ‘Z’
Anyway, I would see price reductions come in some days, ten at a time or more. That is just the way it is now. Real estate is not a fast-moving animal it takes time to slow down and when it does it’s a good idea to get ahead of the curve by price accordingly.
The good news is for our area, month over month, In Sarasota and Manatee, prices are still holding fairly strong, with maybe about a 1% dip in median sold home price in August.
The second 9 minute video:
Sell Now Or Wait? 5 Key Stats You Won’t See Anywhere Else That Can Help You Decide to Sell Or Not
Aug 24, 2022 Should you sell your house now or wait? Real estate market in the Toronto and surrounding area has been on a decline since April. I present 5 key stats that might help with that decision. I keep the sales bias out of it and present just the stats only.
How many listings expired, how many house listings were cancelled, how many homes sold over asking price. I cover all these and more in this video.
Hopefully you enjoy the content. Thanks for watching. If you need an honest agent on your side: Vic Singh
The last 16 minute video:
Proceed With Serious Caution In Brampton, Mississauga & Durham
Team Sessa Real Estate
Aug 24, 2022 Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Aug 11 – Aug 17, 2022.
‘An early sign the market may be cooling with home prices falling for the first time in 3 years last month. The .77% decline does not seem like much, but it was the biggest drop since January 2011. The data could be skewed with big cities in California seeing recent price drops as high as 10%.’
https://www.msn.com/en-us/money/realestate/expert-discusses-conn-real-estate-market/ar-AA1147SN
‘Toll Brothers Inc., the largest US luxury-home builder, cut its sales forecast and said it has increased buyer incentives to help navigate a slowdown in demand. “As summer is winding down, we’re going to continue to see better traffic, higher-quality traffic, but we recognize it is certainly more of a buyer’s market and we will act accordingly,” Chief Executive Officer Douglas Yearley said on the call.’
‘Among the weakest areas are such Covid boomtowns as Phoenix; Austin, Texas; and Boise, Idaho.’
https://ca.finance.yahoo.com/news/toll-brothers-home-orders-sink-215210082.html
‘Reali, the real estate and fintech platform transforming home buying and selling, announced today it will begin a shutdown and will be laying off most of the workforce on September 9, 2022.’
‘Co-Founder and Chairman of the Board Amit Haller said, “Reali was one of the pioneering companies to offer the ‘buy before you sell’ and ‘cash offer’ programs to homeowners. We believed deeply in benefiting the consumer foremost in every transaction. The six years Reali spent evolving the prop tech market in California helped elevate and transform the industry.”
‘Due to the challenging real estate and financial market conditions and unfavorable capital-raising environment, Reali determined the best course of action is to close.’
https://finance.yahoo.com/news/reali-closing-operations-195200644.html
The six years Reali spent evolving the prop tech market in California helped elevate and transform the industry.”
Elevate and transform? Into what? A Cluster Group of companies burning hundreds of Millions of dollars. Oh yeah, now that is something to be really proud of!
Happy Valley, OR Housing Prices Crater 13% YOY As Soaring Mortgage Defaults And Skyrocketing Inventory Blows The Doors And Windows Off Portland Housing Market
https://www.movoto.com/happy-valley-or/market-trends/
As one Portland area broker conceded, “If you’re a buyer, the broker is lying to you. I know a liar when I hear one. I’ve been lying my entire life.”