Wow, it's been a crazy couple of weeks for both my clients and myself. I'm seeing homes that have been on the market for months suddenly have multiple offers. I went out Wednesday with a client and we looked at a home in Happy Valley. She liked the home, and thought we'd take her husband through it. This is a new home that had been sitting on the market for months with no offer. I called today, and they got an offer in yesterday and the seller has already accepted it. This is not the first time I've run across this either!
It's just been crazy how much activity I've seen over the last 3 weeks or so. I went from having 1 offer on 1 of my listings to having 6 offers on 3 of my listings. One of my other listings has had more showings in the last 2 weeks than it had in the last 2 months. It's crazy out there, but I'm not complaining.
I think it's a couple of factors that are contributing to this. First off, it's the nice weather. We've had a beautiful run of blue skies which are coming unseasonably early. Secondly, Portland and Oregon are always a lot busier in the summer. People want to get their homes settled while the kids are out of school. If you buy early in the summer, you can be completely settled by the time the new year starts. Finally, I've also seen rates go up over the last couple of weeks. For people that thought they had an unlimited time frame, this was an indicator that it's time to move. If rates go up 1%, it's like a 10% increase in price on the monthly payment. So when rates go from a little over 4.5% to almost 5.5%, it's a big deal.
If you are at all on the fence, now is the time to jump.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment