Market Shift is Happening

Real Estate News TV

Market shift is happening. Yes, it is mad. Shana Acquisto. She’s a luxury real estate broker and I’m here helping her out as we kind of walk through and discuss what’s going on with this market shift. We have stats and stuff and we’re going to show, yeah, are you ready? So when we say market shift, I just want to reiterate something real quick. Doesn’t mean a market crash. So I think there’s a there’s a huge distinction between the two. But you’re going to have to educate clients and people in general out there, because when they see things happening, although we know it’s a shift, they’re like, Oh, the bottom’s dropping out, everything’s going to crash. And that is not necessarily the case. No. So you’re talking about how it’s different across the whole country, right? And how it’s different even in our Mlss different. And there’s different pockets all over the place and for different price points as well. Right. So the bottom’s not dropping out. You just had a property that was that went under contract for a considerable amount more, maybe eight, 10%, 12% above list price and a competitive multi offer situation. And now we had a lot of showings. It wasn’t as many showings as we’ve seen in the past, and we had multiple offers, but not as many as we’ve seen in the past. And that just goes into what’s happening in the market with higher interest rates and with inflation. You know, all of this is meant to slow things down and that’s exactly what’s happening. So it’s slowing down, doesn’t mean it’s crashing. It’s just, you know, it’s calming just a tad. You know what? And I would love to take a deep breath. I would love for the market to do exactly that. So if the interest rates do go up a bit and we do get more listings on and we do sell them all within like 30 days instead of 30 minutes, and we do have two offers instead of 20 offers and we are able to get our buyers homes that are qualified for them. Yeah. Then that would be way better. Think how much better your life would be. Yes. And if that has this that app, one of our best, most productive years in real estate was a year when people were refinancing to six and a half percent because that was a good rate. Right. So and that was a great year for us and we were fairly new to the business. So anyway and I think that rates, even if they go up, they’re going to eventually go back down again. And then what will end up happening is people will refinance what they what they had. So things will all work out. They will work out. The world is not going to end. But, you know, I say this a lot. Your assets increase with inflation. So it’s a good time to buy. It’s it’s it is. So I want to make sure you guys, you know, it’s important for us to have our hand on the market and know in real time what’s happening. So I saw on Facebook yesterday several realtors were posting like markets crashing. Don’t think the market’s crashing all of these things and showing different stats. And, you know, out of three realtors, they all had a different perspective and different stats. So I’m a believer in the actual facts and the data, and you have to hone in on the specifics as well to give the proper data. Right. We can’t give national we can give national information, but we really need to look at how it’s affecting us locally. And really, I call it micro local because you can get super detailed in this. So this is through your CCAR membership. If you log in through CCAR net, you can have access to networks trends. There’s a market viewer and there’s our PR. These are all three good resources to get information. I like metrics trends because this you can look at your entire MLS, you can customize it to how you want and it shows in the, you know, up to the the previous month. So we’re in June now. It’s got all up to May’s information. Mm hmm. So this is a really good way. And if you look at the bottom, you have original list price, price for foot, all these different you go to the one t --- Send in a voice message: https://podcasters.spotify.com/pod/show/realestatenewstv/message