I’ve been thinking about you. TOTP. Really I have been thinking about you. The market and what is happening out there a lot. Perhaps more than usual. Why? Because everywhere we turn, everywhere we look, we hear or read how the “real estate world” is collapsing around us! We continually seem to be calming the nerves of our buyers and sellers, our towns and cities we live in and the nation! Arghhhhhhh! Stop The Insanity!!
The Case-Shiller Home Price Index, releases another report on how everything is going to hell and the end of the world is near and the media picks up on it. Runs with it. Jumps on board and ignites the panic fire again and again!! But, they don’t even consider how regional, local and intimate real estate really is. They view only a small microcosm of the market and then assume that everywhere else is the same. Hey…they are the experts. Right??
Even the CEO of Coldwell Banker, Jim Gillespie, felt compelled to comment and defend the market and what is taking place.
Hey Case-Shiller It’s Not the End of the Real Estate World Thank you Mr. Gillespie for being the “ray of information sunshine on a gray day of bad information!” Trust me…at some point, the idiots who call themselves experts will get it right. Folks! This is the best market we have ever had!! Embrace it for what it is. A buyer’s perfect dream!! You can’t make this stuff up. Pricing is great! Selection is wonderful! Rates are spectacular!
As Jimmy- G likes to call it; “Triple I….P”. Inventory, Interest rates, Incentives and Pricing! – Inventory, more homes currently on the market means greater selection for the client. Interest rates for mortgages remain near historic lows. Incentives are the tax advantages and breaks real estate offers to home ownership. And then there is prices…OMG!…Or should I dare say that some prices in some areas are very close to late 1990’s – early 2000’s pricing. Hence the Top of the Pop video above.
So much is being said about how bad the market is, when in reality, we are in the MIDDLE of the best buyers market of recent memory. Know it…Feel it…Believe it! If you don’t…let me include another piece of information. The chart below on Pending Sales. What does it tell you?? It tells me good things have been happening to our local market and it is well on the way to recovery. By the way, do I/we really care how things are selling in Maui, Hawaii? Or Bangor, Maine? Or Phoenix, Arizona? No. Not really. Because it doesn’t affect me. It doesn’t affect you or our clients. Real Estate and Housing are Local!!