Since I sent my blog February 1st on The Perfect Real Estate Storm followed up by THE NEXT 3 WEEKS COULD BE THE MOST CRITICAL OF 2018,
I have been stressing the following:
- Spring buyers will come to market sooner to beat the interest rate hike swamping the already depleted Real Estate market.
- Sellers will follow tradition and wait to put their house on market in Spring.
- The time to sell is right now and it is critical to bring listings to market before 3/19 to beat the Fed meeting where almost everyone agrees a rate hike announcement will come.
- The majority of your 2nd quarter paychecks will come as a result of the listings you bring to market by 3/19 because Spring will be slower due to:
- Inventories increasing.
- Spring buyers coming to market in March that either buy early or in frustration after not converting have backed off on buying since rates increased and they were unable to secure a home in time.
You have been seeing the multiple articles regarding the Fed meeting and rising rates most likely to be announced at their meeting March 20-21. You will see more media coverage as the day draws near and this will cause more buyers to come to market. Most of you are witnessing this and some have mentioned a doubling of incoming buyer requests.
This just came out today in the Wall Street Journal forecasting a slower Real Estate Spring for all the reasons I have been mentioning:
That is why the time to List is NOW! If any of your sellers are falling into the conventional-traditional trap of putting their house on market in April they will be disappointed and miss out on perhaps the biggest short term opportunity to sell in a lifetime. . .
Success is being made with:
- Working 2011-12 buyers. They have great equity and can now sell high – and lock in on rates before they adjust up on their new home- rolling in all their gain.
- 10/31 to current expired listings. This is giving them hope and they have been through the come to market scenario before.
- Past interest sellers and buyers and current hot –warm prospects.
- LO’s working their past clients from 2011-12 and forwarding listing leads to their top realtor partners creating a purchase deal when they buy their next home.
- Listings to market by 3/19 contests are yielding great results!
The likelihood for a slower 2nd quarter first half is high. . . so make hay while you can!