The Buyers are starting to come out of the woodwork in Johnson County KS!!
In the last week I have had three leads just pop up out of no where, well not really no where but unexpectedly!!
One was a referral that I am handing off to an agent in MO, she is an old friend and really had no clue that she was even interested in getting into the market.
One was a referral from friends of ours and the third was someone I have been in conversation with for about 6 months.
Why am I telling you this, well simple fact is this, as I am looking for homes to show these buyers more and more of the homes are changing status to pending or sold!! Smells a lot like a sellers market is coming to me!!
Couple this with the fact that the inventory in Johnson County (absorption rate) is taking less months to sell (currently around 7.5 months), which is down from December of 2010 and January of 2011. Once we get to 6 months of inventory we will swing from a buyers market to what is called a balanced market and from there I expect to be in a seller's market by mid 2011 in Johnson County KS.
Why am I telling you all of this, well as I mentioned in my previous posts I know not only from number but from being active in the market that we are defiantly in the 4th quarter of the buyers market we have had in the last couple of years. Sure there are still a ton of bank owned, short sale and foreclosed homes in the market and great prices remain on them for those who are strong enough to go through the short sale, reo and foreclosure process.
Make no mistake about it, full price offers are now hitting the table, it won't be long before prices start heading back up from the market bottom bounce and the great deals you can get today will not be around in a few short months.
Bottom line is this, if you are on the fence of should I buy a home or not, now is the time to say yes or say no because saying yes later will cost you money!
As alwasy I am available to help with any real estate decisions that you are trying to make, and if you are not in my market I can find your great agents in any market in the US and Canada to help you with your real estate needs.
I am never too busy for any of your referrals!!