Our Housing Market - Special Guest - Realtor Guru Jeremy Page

19/08/2022 31 min Temporada 1 Episodio 27
Our Housing Market - Special Guest - Realtor Guru Jeremy Page

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Episode Synopsis

Let's jump into the MIBOR. And since we have Jeremy Page here, he's going to what they call educate Rick and me. So when we look at it, I mean, we did see a decrease and medium home sales price from June to July, is that a normal thing, or  I wouldn't say it's normal. And but I will tell you, as I mentioned before, the market is softening a little bit. We're still getting multiple offers on a lot of houses, I would venture to say most houses. But the days on markets trending up just a little bit, you know, we talked about that a little bit earlier off air, you know, in July average days on market was 18 days on market back the month before in June was 14. So during it up for days, there's still a lot of houses that are getting sold. On day one, day two, and day three, we had mentioned as realtors, a lot of times we have changed it to be a more concise listing period on the seller side, what we try to do is get it on the market, you know, and then give it three or four days for people to go take a look at the house that we could collect the multiple offers, present those all to the sellers. So honestly, that days on market are a little misleading because there is some kind of fudge days built into there. We could sell a lot more homes in one or two or three days, versus giving it those several extra days to be on the market.But you're when we're talking about 18 days, that's still pretty darn fast. Absolutely.In fact, we say a balanced real estate market is six months of marketing time. Obviously, we are very far from that.It's18 days compared to six months, absolutely. 180 days. Absolutely. 10 times lower. Yep. That's crazy.It is. And when I started my real estate career, it was the exact opposite. It was a huge, huge buyers market, it was after the Great Recession. I think the average days on market back then was like a year, year and a half, you know, we had way more listings available than we had buyers. And my real estate life has kind of come full circle.So we saw a little bit of balanced market there in between and then look at us now you know, like I said 18 days on market in July, typically now, the seasonality of real estate, we see a little bit of a slowdown July, August, a lot of schools go back the end of July, beginning of August now. Typically speaking, we see you know, a couple of weeks before a couple of weeks after school starts a little bit of a slowdown, people are getting their kids ready to go back to school, they're getting the processes down, they're getting it all figured out for a couple of weeks. We're already here, you know, mid-August, we're already starting to come out of that we're already starting to see a lot of buyer activity again.But there for a couple of weeks or a month, it was a little bit slower. And that's I think, just seasonality. The funny thing about our business or I guesConnect with Us:For more episodes of Indy's Real Estate Gurus, visit IndysRealEstateGurus.com. Join our community for more insightful real estate discussions, tips, and expert advice. Don’t forget to subscribe to stay updated on the latest episodes! Follow Us on Social Media: Facebook: Indy's Real Estate Gurus Twitter: @IndysREgurus Instagram: @indysrealestategurus Contact Us:Have questions or want to get in touch? Email us at [email protected] or call or text us at 463-223-9592. We love hearing from our listeners! Support the Show:If you enjoy the podcast, please leave us a review on your favorite streaming platform. Your support helps us grow and reach more real estate enthusiasts like you!

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