Market Minute
The spring market took off early. I know the exact day it happened. I was there. February 13th. Homes went from receiving a few offers to receiving 15 or more.
Despite high interest rates, there are still many buyers looking for a home. This demand is driving competition, and in turn prices, to go even higher.
But what is really driving the increase in prices is the lack of supply. Inventory, while increasing during the traditional spring market, is still at historically low levels.
Sellers aren't selling. Why is that? Check out my Market Minute video or read this report published by Compass about the historical factors behind this decline.
Real Estate Confidential
There are plenty of rules and regulations around the home selling process. But there are many areas that are wide open.
One example is the front yard "For Sale" sign. People assume that when a home goes pending or is sold that a rider (the little sign that goes atop of hangs below the big sign) will appear. If there is no "pending" or "sold" sign, the house must still be for sale the reasoning goes. That must be a rule.
While there are many regulations around the front yard sign, putting up a pending or sold sign is not one of them. It is not a requirement. That is something the listing agent does as a marketing tool. It allows her to signal to the community that she was able to sell the home quickly. Wow, that house sold fast, she must be good!
If there is no pending or sold sign put up or if the listing agent takes a few days after the home is under contract, that is because the agent has not done it. It is as simple as that. The reason may vary-busy schedule, out of town, no available pending signs, etc. Whatever the reason, it has nothing to do with the status of the home.
Saturday, March 23
10am - Noon
Bushrod Park, Oakland
Kim's Corner
I am always so grateful to clients, friends and neighbors who support my business. I appreciate you all and love to create fun events as a way to say thank you.
So come learn how to play pickleball! Coach Liz will show you what the game is all about. No experience a plus and paddles provided. Bring a buddy!
Be careful, you might get hooked!