We’re in a fast-moving market!
Updated: Jan 5, 2022
Looking for? Do you have this coming? I’m in need of…
My qualified buyer is seeking….A rental needed…HELP NEEDED!
This is the current content flooding my email from local realtors all across the CSRA. Our board allows all of us fabulous agents a platform where we can send a bulk email to the members of the Greater Augusta Board of Realtors. Daily without fail, I am seeing the same messages over and over again. It is clear to anyone with a pulse that this market is great for some (hello… sellers), and terrible for others, (ahem… buyers and tenants!!!!)
In addition to the cries of help from all parties involved in this fast-moving market, we hear so much about the crash that is coming or who can pay all these high prices?
I wish I had a crystal ball that would answer every question and concern for my friends living in apartments waiting for the right time to move.
Or for my sellers on the fence because they don’t want to be homeless and there is nothing available to buy.
This week I was reminded of a sale I had in 2018. This was a starter home for 150K and in 2018 we offered 3k over the list price because there were multiple offers and I was sure that no one would dare pay more than asking. That is our local mindset—or was!
This screenshot was taken over the July 4th holiday weekend.
That same house, listed last week and had 25 offers on it.
So, back then I was writing offers over the asking price because the market was demanding it to ensure my client’s offer won.
2021, AFTER and DURING a major pandemic, I’m still having to do the same thing.
Except now we are having to be crazy aggressive, writing offers for 20K and more OVER asking price to beat 25 other people bidding on the same house.
Bottom line, I don’t expect a collapse because this was already coming.
In the last 3 days, 37 new listings hit the market, and 30 sold!
Remember that housing is not a want, it is a fundamental need that everyone has. If you think about it that way, I think you would agree that a huge market collapse is not in our near future, and honestly, can you stop it if it is? I am pretty sure regardless of what the future holds, we all need a place to live.