As soon as the bottom appears, it is gone. Unpredictable, unreliable, elusive bottom…bad bottom…real estate is back with a vengeance. The experience in some areas is somewhat frantic. When price, location and value are in harmony a multiple offer situation is guaranteed. If one factor is not in sync the listing will sit.
When was the last time a raised ranch sold in Yorktown for $500,000??? How will the appraisal community now adjust for this upturn in some areas when comparing homes that sold 3-6 months ago???
Our responsibility and awareness is now on high alert. A shift has occurred and perhaps we were not ready for it. The media is announcing it so now is the time for us to shift into high gear, accelerate the process for both buyers and sellers and embrace the change.
Real Estate is back…