Back in my day….
I’ve heard a number of people voicing concern or even complaints about the current market. We’re are in a seller’s market, finally! What does this mean? Inventory is lower than I’ve ever seen, buyers are coming to open houses with pre-approval letters and earnest money checks ready to sign. Prices have gone through the roof and sellers don’t have any complaints. Buyer’s are also happy though. Rentals are getting more per month than ever, interest rates are low and banks are willing to work with people again. The market is a rainbow unicorn we thought we’d never see again, but it exist! It’s our time! (Goonies reference)
Here’s where I start to sound like my grandfather. Back in my day…. oh god, here we go. So back in my day, when I first started real estate, we were at an all time low. I learned from a school of hard knocks that would make little orphan Annie puke. We had tons of inventory with no buyers. The inventory was from bank owned short sales that were hardly a sale and never short! My longest wait was 8 months only to have the bank come back and say the price wasn’t bank approved. They asked for $40k more! Sorry Chris! It was a time of Top Ramen with a side order of uncertainty. We were officially in a recession and people thought the economy was going to implode. Think Y2K when the soda machines were going to reset and take over the world!
Today’s sellers are gladly selling and buyers are making great investments. This is the best I’ve ever seen the market and am loving selling houses more than ever. Remember the sweet is never as sweet without the sour. I can still taste the Top Ramen, but tonight I’ll have a steak!
Cheers,
Joe Fernald~Kensington Realty LLC
Designated Broker~
360.852.5530