Our market is still strong despite inflation and rising interest rates.
I was planning to talk more about swimming pools today, but I wanted to update you on our market conditions because they are ridiculous. If you thought the market would slow down because of inflation, you were wrong.
The photo at 0:36 shows a new listing that just came on the market. It’s a modular mobile home on a nice lot. It’s a nice home, in good condition, and priced right, but none of that matters much.
What does matter is that the owner allowed multiple showings simultaneously. The picture shows over 18 cars parked within the first hour of the listing coming on the market. That might mean nine buyers and nine Realtors or some combinations of the two.
“Nothing is changing this housing bubble.”
Interest rates are going up, but that does not seem to matter. There appears to be an unbeatable need for good starter homes in Northwest Ohio. I was told that there were over 30 offers on day one for the property in the photo.
If you are one of those 30 buyers, you have a measly 3% chance of winning. You might have to waive your inspection rights, forgo your appraisal rights, and bring nothing but cash to win this home. Our buyer was actually the one to win; he was very happy about it.
Nothing is changing this housing bubble, not the shortage of homes, the increasing interest rates, the war in Ukraine, the weather, or the time of year. There is no end in sight, so if you’re a buyer, you need to carefully craft your family’s plan to get your next house.
My team can help. We know how to position your offer and still protect you. If you have any questions, need help, or have a video topic idea, feel free to call or email us. We can’t wait to help more people buy, sell, and manage their real estate holdings.
