I don’t know about you but the chillier air, the rain, and the arrival of lush green grass has me feeling excited about the return of the holidays. It has been way too long since we could gather, in earnest, with family & friends and be thankful, collectively, for all that we have.
As frenetic as the pace has been over the last two years, the activity has been equally sluggish as we head towards the holidays. However, the slowing should not be misconstrued as a dampening of prices or buyer demand. In many ways, it feels like we are retracing back to historical, seasonal norms. Buyer demand has continued to grow while inventory has become sparse. As you might imagine, this combination has buoyed competition and led to further increases in sales prices. In addition, the lack of inventory is putting pressure on those buyers that must find housing, and in turn, the rental market has become almost as challenging as the sales market.
From an agent's perspective, we are busy strategizing to come up with “the goods” for our buyers, while at the same time, banging the drum for prospective sellers to enjoy the benefits of selling now (as opposed to later). The end of the year offers a unique period in which many sellers have committed to selling but they are waiting for the new year to market their home. Experienced agents know how to leverage this period and look to put together less conventional, market, or pre-market 2022, deals. If motivated, sellers may be able to lock into a sale at a premium price without the hassle of market preparation. Most buyers are willing to participate in such deals to circumvent the open market and are also willing to offer a leaseback of some extent if it is needed by the seller. Overall, this period can be very fruitful for clients if their agents are willing to roll up their sleeves and network creatively.
Finally, I want to thank you all for your support, friendship, and trust over the last several months. I am truly grateful.
Wishing you all a relaxing, enjoyable Thanksgiving!
With appreciation,
Jon
