Tuesday, July 11, 2017 / by Brad Miklovich
Well here we go roaring into the third quarter of 2017. It has been alot more of the same in the second quarter. Inventory of homes is way down still (-8.4% nationwide year of year). If we think about that for a second, last year was a very tight inventory market that saw homes selling very fast. This year is tighter 8.4% tighter. We continue to see a market that buyers are fighting for homes and sellers getting more money than they anticipated. Home prices in the latest home sales report hit another record high!!! Home prices across the country are up 5.8% year over year for a median sales price of $252,800.
As an agent who represents alot of buyers, sellers, and investors, I am constantly asked what is causing prices to go up so much? The answer could be found in the first day of Econ 101 supply and demand. As interest rates continue to stay low and many of our younger buyers are getting better paying jobs they are looking to join the older contingent in buying. We see many folks ...
Thursday, March 30, 2017 / by Brad Miklovich
Wow what a winter market we have seen. It seems that this has happened now for the past 3 years, the 1st day of January the real estate market just takes off. 2017 has started the same way, inventory has been very tight and prices having been climbing, with many homes going into multiples within the first week. Our buyer are finding themselves making very strong offers to win homes. Like I mentioned this is nothing new, we have now seen this every year since 2014. The big question in my mind is will it continue into the summer? In most years the winter and early spring market sees homes sell very quick and for top $, then once the nice weather sets in inventory finally finds it way to the market just in time for the buyers kids to get out of school and everyone leave for vacation, leaving homes to sit on the market and sell for lower prices.
At this point on the last day of March I do not see a slowdown in site, we have backlogs of buyers who continue to look for the right house7 ...
Friday, September 30, 2016 / by Brad Miklovich
Published September 29th 2016 we saw pending home sales of existing home sales fall 2.4% Nationwide, when no change was predicted. This is a number our team was anticipating, you can feel it around the office, it feels like the rug was pulled out from under the market. The numbers seem very slight, but when you are coming off a market that was constantly growing, and running like crazy any pull back is felt.
Just 2 months ago on a stage in Austin Texas the founder of Keller Williams Realty International; Gary Keller, was preparing the company for the impending "SHIFT". Gary talks about a market that is on historic highs and is poised for a drop. Of course any market shift will be felt in different ways in different parts of the country, the coasts drop hard and the interior falls in a much less dramatic way. As I travel across the country and meet with top Real Estate agents, you meet people who truly see the sky falling, they hear about a “shift” and feel like it is 2 ...