3,2,1 September is here!

I compare the housing market to a hot air balloon, moving along slowly, not dramatically changing altitude (yet). 3,2,1 September is here! In this video, I speak on the current environment where Sellers must now compete for Buyers - which is a paradigm shift - NOT a market shift.

3,2,1 September is here!

It’s Friday and it’s Labor Day weekend. Hooyah!
Fire up the grill and let's have some fun! So that you'll be informed, and because I'm sure some of you are asking: "What is going in the market right now? I've heard there is a shift..."

We're actually going through a paradigm shift, because the most recent market shift really began in the Spring of 2020, when a mass movement to remote work meant you no longer needed close proximity to an office, and then our home/work/ entertainment/exercise/communal spaces had to become one - uugh! A need for a outdoor space, combined with historically low mortgage rates, an increase in disposable income, all created a boom in demand for an already constricted and conflicted housing market.

Predictions: Mortgage Rates are likely to go up (again) before they come down and this decade, tech-enabled solutions will advance the rate of change, dramatically, increasing the value of home ownership. Here are some fun facts to marinate on:  institutional buyers made up 13% of the residential sales market in 2021, according to NAR - the advent of an "iLender" [a technology-enabled lender that empowers buyers who qualify for a mortgage to submit all-cash offers on a home] - and remote online notarization (RON) increased 547% in 2020 + Digital closings are increasing...

It is important to keep in mind that we still have incredible buyer demand with limited inventory, which should produce a robust fall market with motivated buyers, yet there is more room to negotiate than we've seen over the past couple years! This is a welcome change. Expect more traditional seasonality, since many people can travel and, and longer days on market - since there is more inventory, another GOOD thing! The key for sellers to succeed in a market that may have lost some of its steam is to make their property look amazing prior to listing it. That's what I've been up to since we last talked - ...and I also launched a new website: chrisjurach.com

I Know You Want the Best Price Possible, It’s MY Job to Help You Get It!