We balance those three factors — product, price and packaging — so that we can achieve a seller’s goal: highest price in the shortest time with the fewest challenges. If the product is lacking in some capacity or another, we have to fix it somehow. Sometimes, we can physically fix the product (what it is and how it is), but sometimes, such as with a poor location, we can’t. Then, we have to rely on adjusting the price or the packaging.
I’ve just calculated the current market conditions snapshot report for my market area, and I’m delighted to report that the craziness continues unabated. It’s getting crazier, in fact.
Bank owned REO was a good niche for me. I understood it from the beginning because I was learning the loan business during the last mortgage crisis in the 1980′s . . . It was a mess, and I had a front-row seat. Nearly 20 years later, that experience naturally lead me to the world of REO brokerage. I got in several years early, so I was ready.
The real estate market is still crazy. Inventory is creeping up slowly — and that’s a good thing — but last month we sold over 50% more properties than we did in February, so we cut deeply into what little inventory we had. Right now, we have less than a five-week supply of homes for sale.
So what is the absorption rate telling us right now? Mostly that the real estate market is crazy right now. Based on the most recent calculations, it will take well less than two months to completely wipe up — to absorb — all the current listings. In Highlands Ranch and Lone Tree, where there are less than 200 active listings, it will take just over a month to sop everything up.
Short sales are the new norm in real estate (although that’s changing — more on […]
The blog post at the link below just came across my desk. I’ll admit I’ve […]
Is it any wonder multiple offers are becoming the topic of the day, and rising prices are starting to be seen across the country?
Real estate market conditions continue to show signs of strength, nationally and locally, although there […]
Real estate market conditions have continued to improve here in the Denver area and around […]
With the interest rates remaining at historic low levels, this truly is just about the best market you’re ever going to find to buy a new home. I urge you to take advantage of it.
Denver-area home inventory plunges | Inside Real Estate News. I’ve talked about this in several […]