Time To Buy? Scared Sellers?
https://www.youtube.com/watch?v=iKkWHBUjYJM https://www.youtube.com/watch?v=DANAER2R5lQ https://www.youtube.com/watch?v=XjKNFEK43c8
We Increase Prices Without Understanding That It Will Backfire On Every Single Part Of The Industry
A report from Market Watch. "'Our prices have come off of their irrational highs of the last 18 months. It’s kind of a rebalancing,' Dave Walsh, manager of Compass Realty San Jose, told MarketWatch. At open houses in the Bay…
The Last Two Years, We’ve Been Living In A Fantasy Land
A report from the Pioneer Press in Minnesota. "'We don’t seem to be selling stuff like $40,000 or $50,000 over list price, with offers like ‘You can name my first child,' quipped Justin DuChemin, a real estate agent with Re/Max,…
Investors Are Aggressively Pitching Lowball Offers And Prices Have Already Fallen Steeply
It's Friday desk clearing time for this blogger. "'In my 22 years experience, I’ve never seen it move as fast as it was. I mean, back in Easter, every deal I had was multiple offers. You know, few months later,…
The Pandemic Housing Bubble
A report from Nerd Wallet. "Michelle Doherty, a Realtor in northern Virginia, notices the same thing. Buyers 'hold off, thinking, 'You know what? We'll wait for them to drop [the price].' She prods clients to make offers below asking instead…
The Halcyon Days Of Multiple Offers And TBD Pricing Are Likely Ending
A report from Twin Falls KMVT. "In markets saturated with buyers, like many areas of Idaho, buyers backing away from the market should mean stronger negotiating power and, eventually, lower prices. According to mortgage expert GP Theriot, the market is…
If Home Buying Were Honest
https://www.youtube.com/watch?v=xWqiE5GY4LI https://www.youtube.com/watch?v=mgODew-Iwog https://www.youtube.com/watch?v=Y-i7cawhw8s
Now The Whole Industry Is Panicking
A report from CNBC. "'I think over the next quarter or two there will be some price discovery as we match up mortgage payments with pricing,' said Doug Bauer, CEO of Tri Pointe Homes. 'The consumer, really, it was mid-June…
We’re Giving Away Our House At This Price
A report from the Everette Daily Herald in Washington. "Active listings in Snohomish County more than doubled in May to 1,182, up from 500 a year ago. Sam Mansour, a broker with John L. Scott Lynnwood, said more sellers put…
For Several Decades, We Have Traded Houses Among Ourselves At Ever-Increasing Prices In The Belief That We Were Creating Prosperity
It's Friday desk clearing time for this blogger. "The fact some major forecasters now foresee sustained price declines — something that hasn't happened in more than a decade — underscores just how quickly the housing market is changing. 'It's noteworthy,'…