The market is heating up!
When it comes to the local market, the media is simply wrong and one-sided. The truth of the matter is that Spring has sprung and buyers and sellers are at it again! Homes are selling--sellers are upsizing, downsizing, and relocating, and buyers are flocking to Well-Priced homes, buying them, and moving in. Yesterday I wrote an offer on a Well-Priced home in a golf course community and two other agents were doing the same. Believe it or not, multiple offers are still common and Well-Priced homes are selling fast.
The truth is that active inventory/sold properties, time-on-the-market, employment forcast, and many other assumptions are used by "experts" to define and "explain" the broader market. Personally, I couple my markets stats with a "Boots on the Ground" approach. This allows me to focus primarily on micro-economic indicators and activity and I've discoverd that in any market Well-Priced homes attract buyers, multiple offers and sell quickly.
Today's market is not a "Buyer's Market," or a "Seller's Market," it is a Value-Driven market. Period, end of story.
If you are a seller, I'd love to sit with you and show you how to position your home to sell. If you are a buyer, I'd love to help you narrow and define your search so that you can find Well-Priced homes to consider.
CLOSING:
To run the best race you can, to give everything that is in you, and win--that is glorious. To run the race, to give your best and lose--that's painful. But it is not failure. Failure is refusing to run the race at all.
John Ortberg - If You Want to Walk on Water, You've Got to Get Out of the Boat.
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Michigan Real Estate,
Seller insights,
Buyer Insights
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I pretty much agree with your comment that the market is Value Driven. In California, we fight the press all the time for the fair and balanced reporting. It seems when things are OK, the press is either quiet or wants to re-shape the news with the exceptions. When things are not totally bustling, they cry that signs are in place for a collapse of the housing market.
There are today so many people with something to say that are not in the market, nor in the market recently, in fact, have never been in the market. It is very clear to me that what one says and how one says it seems to have more weight today than ever-since everyone has become the real estate expert. I wonder how many would suffer if this same approach were used in medicine. Instead of going to the real expert, we could all diagnose and treat each other based on our believed" ability and experience.
Sort of reminds of the Economist predicting the next earthquake.