A Little Change In The Market

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

There is a little change.
More homes are hitting the market, and there is not as significant a shortage of inventory that we have been experiencing.
 
I do not see the multiple, way over asking offers.  Homes are still selling well but maybe not as fast—good news for the buyers who have been patiently waiting to purchase.
And perhaps, they don't have to make an above offer, forego a home inspection and waive an appraisal. All three things that I don't like to see buyers go for.
 
 
Buyers and Sellers
 
 
 
It's good to see the market opening a bit for buyers—slight changes with more homes on the market. I still have numerous clients ready to buy who have been scared away from this market. By being patient, we are going to see more buyers succeed in the market.  So many are ready and qualified, but they need guidance in making the right decision at the right price and terms.
As more inventory becomes available, buyers will buy without the same rush and feel more comfortable doing the standard inspections.  Hopefully, there will not be the pressure to make an offer on the same day it hits the market. There will be some good buys as some agents are still pricing for multiple offers that may never come. 
  
You should be able to see the house more than once. It's essential to come back for that second look. Bring a trusted advisor, contractor, or a family member who may be helping financially.
 
Taking away the frenzy of real estate offers, hopefully, will reduce 'buyer's remorse.'
More inventory means more opportunities for many buyers.
 
And once again, we can say that Buyers Are Future Listings!
 
 
Thinking of buying or selling a home
Call Margaret Rome
 
Margaret Rome
 
 
 
 

Comments (30)

Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Greg Brown, Sales Rep Toronto, Durham region,  And it looks like you have a system worked out for buyers and sellers.

Aug 02, 2021 09:39 AM
Greg Brown, Sales Rep Toronto, Durham region

It sbeen working so far, this market has never been like this before.

Aug 02, 2021 01:22 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Sham Reddy CRS And it is always good to see you, my friend!

Aug 02, 2021 09:40 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

George Souto Good to see you are still very busy.

 

Aug 02, 2021 09:41 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Thanks, Myrl Jeffcoat 

As usual, RE is always changing.

Aug 02, 2021 09:42 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Carol Williams, Have you had enough of the roller coaster ride?

Aug 02, 2021 09:43 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Kathy Streib, It is pretty uncomfortable no downright scary having to make such a huge decision seeing a property only once!

Aug 02, 2021 09:46 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Brian England, Waiving appraisal and inspections may be in the seller's favor. But if you are a buyer's agent, not such a good way to assist in the purchase of a house!

Aug 02, 2021 09:49 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Margaret,
It hasn't really affected me but I do feel sorry for those having to deal with the insanity.

Aug 02, 2021 10:00 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Carol Williams Even retired, I love how you continually learn and share with all of us!

Aug 02, 2021 11:06 AM
Carol Williams

Thank you, Margaret Rome Baltimore 410-530-2400 

Aug 02, 2021 11:19 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Aug 07, 2021 06:58 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Thank you so much, Kathy Streib. I appreciate the feature and all that you continue to do for the AR community!

Aug 07, 2021 07:05 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Margaret. The new normal is really just a return of the old normal. Is that normal? Good news is good news, especially buyers are future listings. Enjoy your day.

Aug 08, 2021 04:34 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Margaret - I am also wondering what happens after the eviction moratorian.  Buyers should have better odds.

Aug 08, 2021 05:31 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi, Margaret Rome Baltimore 410-530-2400 - The Sedona market is a second home type of market.  This is always a slower time of year for us.  It will pick up again in mid to late September and go into early December.  Homes are still selling fast and sellers are looking at offers with fewer contingencies in most cases. 

Aug 08, 2021 08:53 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Margaret:

Ironic that you wrote this as I have been working on my market reports that I do monthly and the statistics for July for a number of communities are in line with my hunch that (1) inventory is increasing, and (2) time on market is longer in some areas and price points, and the frantic nature is easing a little.

We are still seeing multiple offers and many homes  are selling within 1 week but other homes are sitting on the market longer. Not sure if this is a trend for the fall or we are just seeing the impact of summer. Time will tell.

Jeff

Aug 08, 2021 04:19 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Wayne Martin, Another  clever comment:

The new normal is really just a return of the old normal. Is that normal?

Aug 08, 2021 06:44 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Grant Schneider, I would think that there will be more homes on the market from owners of those properties.

Aug 09, 2021 07:12 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Sheri Sperry - MCNE® Even in a normally slower season, it's good to hear that your homes are still selling well.

Aug 09, 2021 07:16 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

 

Jeff Dowler, CRS 

When posting your market reports, you always provide such good information for your area! 

 
Aug 09, 2021 09:25 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

I have seen the shift in the market here as well and it does bode well fro buyers that have been shut out of the market.  Sellers have to tone back the greed and while they will still make a profit it won;t be out of sight

Aug 10, 2021 06:28 AM