"Because something is happening here
But you don't know what it is
Do you, Mister Jones ?"
The chorus from Bob Dylan's Ballad of a Thin Man is reflective of what is happening in our local real estate market. Properties are moving at one of the quickest paces in more than 4 years. New short sales in good condition are receiving multiple, above list price offers. Still the talking heads say the market isn't done dropping. Yes something is happening. We have to live into the future but looking in the rear view mirror say are market has changed. When I said the collapse had begun in my market in 2005 people told me I didn't know what I was talking about. Now I am getting told that all over again.
I just met with an appraiser today, pulled some comparable properties that have sold or which are pending. The many of nicest homes in the greater Seminole Heights area have all gone under contract in 60 days. Same discussion I had with an appraiser last week. And the week before. Different sizes, Different locations but all under contract in less than 60 days. Many aren't even remaining active for even a month.
So do all those folks talking about real estate have you confused? You are not alone. I just met with a customer about listing her home. She spoke to another agent told her she would be lucky to sell it for 59k! Silly me I told her a figure significantly higher and I wasn't trying to "buy the listing."
Just one more reason to list with a local agent that actually KNOWS the neighborhood. Just click the image below.
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