Reorganizing the website and blog has been a major focus for the past few days. In the long run, it will make sense, but the short-term cost might have been pretty high.
The real estate market is showing some really small signs of slowing down right now. It’s been crazy, so this slow down really only means that we are moving from a strong sellers’ market to a sellers’ market.
I’ve posted a few times in the past several months about how crazy our market is, and every time I hit the “publish” button, it gets crazier. Folks, the trend is continuing.
It’s really the trend we’re concerned about. The great annoyance was that the system used to generate the Market Snapshot hit a snag, and it took longer to resolve that than I had hoped. If you’ve been keeping track of the monthly changes from the Market Snapshot, know that we’ve had a reset on the data.
Lately, I’ve been noticing the crap in my office seems to be multiplying at an accelerated rate. It’s closing in on me fast. For the past few days, I’ve been making a concerted effort to deal with it so I can get back to what, for me, is “normal,” which orderly shelves and cabinets, clear work surfaces, and a dearth of clutter.
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.
Through the years, I’ve learned that the one aspect of real estate that really sends folks around the bend is contract negotiation. There’s something about asking for what you want, and denying what “the other guy” wants, that just gets people all aflutter, and causes them to do things that are not necessarily in their best interest.
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.
Now, for 2014, the HUD-1 will be revised again, for only the second time in 40 years. This coming revision to the HUD-1 is going to be mostly formatting, but it makes the whole thing look very different, and some information is being added that I’m afraid is going to make it quite confusing until everyone gets used to the new format.
When I say, “military housing,” I’m not referring on-base housing. I mean simply regular old, everyday homes purchased by members of the military. Why the distinction? Simply put, because members of the military operate differently than the rest of us.
Short sales are the new norm in real estate (although that’s changing — more on […]
It did get me thinking, though, about what I am really trying to accomplish here. On the one hand, my goal with blogging is to give you information as an introduction of sorts into the world of real estate. Some of what I was trying to say was to help you understand the nuts-and-bolts of the business, and some was to give you an insight into the day-to-day reality of a real estate transaction.
Looking for something to do this month? Check out the activities these guys have compiled: Fun […]
Taking a look at the events calendar also tells you what you already know: the seasons are changing, and, for a time at least, things are slowing down a bit.
It’s still good, though, to stop every once in a while and just take a day off. I hope you can do that this weekend. I’ll be back next week to resume our regularly-scheduled programming.