No one rings a bell when the market turns, but..........

By
Real Estate Broker/Owner with Maui Life Homes / Metro Life Homes RS-78439 / BRE #01708344

No one rings a bell when the market turns. 

You don't hear the clang like on Wall Street when it's time to stop trading.

However, I'm hearing some chimes in the distance.

Crash?  Probably not.  Why? Because everyone needs a place to live.

However, I am seeing more price reductions than before.  In fact, I rarely saw one in the last few years as sellers were really riding the wave and pushing list prices to the max.

Combine that with a teaspoon of rising mortgage interest rates, a cup of congressional election coming up in a few months,  a dash of rising interest rates for investment products as a safe alternative, and just a pinch of canceled escrows, and you have a cake that someone left out in the rain for quite a while..........



Ralph Gorgoglione - Broker / Realtor

Top 3% Realtors Nationwide

Metro Life Homes  / BRE #02009317
Maui Life Homes / RB-21842
(310) 497-9407 / (800) 591-6121 

Web:  metrolifehomes.net 

Comments (12)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sometimes you just have to worry about your economy and your own habits and what you can control because there’s so much you can’t control

Jul 30, 2022 10:42 PM
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

What goes up must come down and sometimes just circle around...

We need to go with the flow!

I like your post! 

 

Jul 31, 2022 01:08 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jul 31, 2022 03:09 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Sunday morning, Ralph.

Thanks for sharing some of your thoughts on the current situation.

Jul 31, 2022 04:14 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Ralph - nice to "see" you on the blog roll.  Such sounds are typically subtle.  Staying in the "know" and consistently "being aware" is always important.  In real estate and in everyday life.    

Jul 31, 2022 04:33 AM
Gwen Fowler-864-710-4518 SC * Mountain* Lake*Home
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

For everything there is a season...sellers have had a wonderful time over the past few years, now is time for the correction. Not a bust, but a correction.

Jul 31, 2022 05:13 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Ralph. Those that keep their nose to the grindstone will be fine. When the pie gets smaller you need to cut a bigger piece for yourself. Enjoy your day.

Jul 31, 2022 05:24 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for the great information in your blog today to share with us here on the Rain.  Make it a terrific day! bill

Jul 31, 2022 05:49 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ralph, love the way you describe the market, and we are seeing the same thing here in Denver.

Jul 31, 2022 09:04 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Hey Ralph, I have not seen you in a while. Welcome back. The market has turned a bit for sure.

Jul 31, 2022 10:48 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Ralph Gorgoglione very valuable report about to avoid panic on the current market condition 

Jul 31, 2022 05:11 PM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Glad to see you back in the Rain. and have to admit that I'm hearing Richard Harris singing MacArthur Park. 

Jul 31, 2022 05:30 PM
Ralph Gorgoglione

LOL!

Jul 31, 2022 10:13 PM