Expect Little Till After New Year

This is that time of year where expectations for real estate activity are low, and should be. What the last two weeks of the year lack in volume they make up for in quality. I have said this over and over, people doing real estate activity during the holidays tend to be very serious and ready to act be they sellers or buyers. I am a firm believer in keeping properties listed through the holiday period.

Meanwhile the 2019 year in real estate should end up with excellent numbers. The supply and demand balance in 2019 for properties in the "meat" of the market was at near equilibrium. The core market locally is in that $350,000 - $550,000 price range roughly 95% of median to 140% of median saw good healthy conditions with demand and supply in near balance tipping slightly towards sellers at the bottom and slightly towards buyers at the top. Below this range it was a solid seller's market above the range favoring buyers.

Despite the feeling of things slowing down, the numbers tell a different tale. Year over year numbers for almost every month were better this year than last. But the energy seemed lower. I believe it is due to the balance between buyers and sellers. Up until the middle of last year sellers were in firm control of the vast majority of the market. Buyers were often frantic, bidding up houses in order to get them into contract. it felt crazy. In the last half of 2018 and all of 2019, that craziness subsided and the only time it appeared was when a lower than market value home appeared on the market.

I personally don't like the low price quick sale approach in general, but it does seem to be working at the moment. Sellers that do NOT need to sell quickly are well advised to price the home at market and be patient. Wait for the buyer that falls in love with the house rather than hoping to get the best price in a quick sale bid battle. Typically sellers often wonder if they got the best price after one of those quick sales. that said in the middle of the price range buyers are becoming a bit more choosy.

This is a healthy real estate market, prices are rising but the rate of appreciation has settled into a sustainable pattern. The prognosis for 2020 looks strong. I do wish all of you a happy holiday period and a prosperous New Year!

Holidays are Quiet, But Opportunity Lurks...

I have noticed the market has entered the holiday zone. Things are quiet... too quiet ;) Sellers should not fret the slower holiday period because buyers tend to be scarce but serious and the opportunity to sell can come in an instant.

I have a client that was thinking about writing an offer on a property that had been listed for a while and not sold yet. Just as the client was ready to pounce, I reached out to the listing agent only to be informed two other buyers made offers and the seller accepted one.

Even in the quiet times buyers are out there and during the holidays buyers tend to be very serious about buying. As I have said time and again, sellers are also serious when they decide to interrupt their holidays to allow showings.

The holidays also tend to knock people off the fence. It's as if a voice inside them is saying, "Let's get this wrapped up for Christmas." Buyers and sellers are often on the same page during this period and both can be a bit more malleable at this time.

December is actually a good month for Real Estate. It isn't a high volume month, but it is an excellent opportunity month.

It's Black Friday!

Well if there was a real estate store the deals would be amazing right? There isn't a real estate store; well not in the traditional sense at least. But if there is a "Black Friday deal" in real estate it is probably going to be found between Thanksgiving and the New Year.

Sellers keeping their home open to buyer tours during the holidays are quite likely VERY ready to make a deal. And buyers that are trudging around in the rain and snow are probably pretty serious about making an OFFER on the right house.

Buyers should not get too excited about a crazy deal because the real estate market is not as malleable as brick and mortar retail stores or the Cyber Monday craziness we'll see next week. Not at all, really. Buyers and sellers are both reasonably well informed these days and most are represented by a professional. But the idea that both the seller and buyer are almost certainly motivated to act is a big bonus to both parties.

The real problem is simply the fact that fewer houses are available during the holidays and fewer buyers are looking as well. The actual impact on pricing during this five week period is usually not noticeable. What is noticeable is that willingness to ACT from both parties. That means sellers should pay attention to offer opportunities and buyers should be willing to write them. December is the month for deals because December is a month where people are ready to take action.

So get ready real estate peeps, December is about to arrive.

Nationwide Housing Numbers a Nice Gift

It was a very Merry Christmas for those of us in the housing industry from builders, to Realtors® as the nationwide housing numbers came in this week and they looked fabulous. Merry Christmas, Happy Hanukkah and let's all have a Happy New year!

Housing Remains Steady and Strong in Clark County

The data from the local MLS shows that sale of existing and new housing remain locally strong. Inventory is not as tight as it was in the spring but conditions still favor sellers in most price ranges. 2017 may see a slight slowdown in activity, but I believe the many analysts that have suggested moderate growth will persist and healthy conditions should continue into the next year.

One thing that remains a bit of an enigma are those potentially volatile interest rates. Rates have remained at or near the record lows despite the federal government relaxing their position. The stock market is seeing tremendous growth and the interest rate bubble may pop unleashing higher rates over the next few years. This is not necessarily a bad thing as lenders and investors may loosen their underwriting grip when the rates they can charge are higher and thus more profitable.

Historically any rate under 6% is very good. We haven't seen 6% in years. Buyers or existing homeowners should consider making their next purchase or refinance very soon as rates have begun to sneak back up. As long as the equity investment market is booming their is a natural economic pressure on interest rates.

Over the last few months sales of new and existing homes in Clark County have been in or around 600 units. This is a strong healthy condition that should continue into the new year.    

Christmas at the Coast

Not everyone wants a White Christmas. Really? Yes it's true, some people don't like snow! Well here in the mighty Pacific Northwest, it is safe to say the least likely location for snow on Christmas or any other day, is the beach. The beach rarely gets snow.

Many people enjoy staying along the coast during the winter to watch the storms roll in off the ocean, listen to the heavy surf crashing on the beach, and enjoy the majesty and power of the world's largest ocean.

You can see the 2016 events calendar to the left wrapping up this month. The coast is generally quite a bit warmer in the winter time than in the Portland Metro area as the maritime influence is quite strong. Although the Pacific Ocean gets dangerously cold during the winter months with sea temperatures falling into the low to mid 40s, it still acts as a warming influence against the cold air masses that flow into the region. The Portland Metro has much less of a connection to the tempering ocean and so it can be 20 degrees here whilst the coast is enjoying 40s.

I don't want to overstep this my friends; if you are looking for a warm and sunny Christmas, this is not for you. For that you'll need to head south...way south ;) But the shoreline can be such a beautiful place, even in the winter and the power of natural forces can be hypnotic. It will likely be windy and chilly, but the coast can be truly awe inspiring at the holidays.

Happy Thanksgiving and Black Friday

Black Friday today, go get your deals America! I do hope everyone had a warm and wonderful Thanksgiving day. I hope your team won, I wish you and your family the best wishes of this 2016 holiday season.

I would like to thank all of the readers of this blog and all of my clients for their support, may God bless you all.

I am taking the day off, but here is a past Holiday post that still rings true today:

Originally published by Rod Sager, December 5th 2014, 

image from www.azcentral.com

I have said it before and I'll say it again; the holidays are a serious time for real estate. Anybody that is buying or selling during this time of year is very serious about real estate.

Buyers that are out in the weather during a time they could be at office parties, visiting with family, shopping for the elusive perfect gift, etc. is very committed to finding a house in a timely fashion. Otherwise why wouldn't they just put it off until the New Year?

Likewise for sellers. They would probably rather not have people tromping through their home during the holidays, when guests are over, the decorations are up, etc. Yet there they are doing just that. Maybe they just really want to sell their house?

This is a great time to buy or sell. All of the classic "looky-loos" are on hiatus while the serious contenders are still in the game. I will likely close four transactions this month and that is as many as I closed in the summer months. Don't take the holidays off, you might just get everything you want in the month of December!

As always, seller's should be mindful of the basics of presented their home to prospective buyers. This might be the year to keep half of your holiday decorations in the attic. Too much clutter can be a negative. Keep baking all those yummy holiday goodies because buyers love the smell of fresh baked cookies. Keep the walkways clear of tripping or slipping  hazards. Keep snow off the driveway and walkway.

Buyers are well advised to keep shopping during the holidays. Sellers are usually easier to negotiate with when they are busy with other aspects of their lives. At the point they have chosen to keep their home open during this month, they are motivated, whether they say so or not.

December is a win-win month for buyers and sellers so neither should shy away from the golden opportunity that December brings to real estate.

T-Minus Seven Days Till Christmas

Another year is about to take a ride into history. Christmas then New years day all in the span of the next two weeks. Those of you that are hearty home shoppers may still be hunting for that ideal house. This can be a good time to seek out properties as many people will start putting off home hunting until after the holidays. The persevering ones may find a golden nugget under the tree in the form of a new house.

Sellers that have home listed right through the New Year are eager to sell and buyers looking at this time are serious about owning a new home. This is a great opportunity for a real estate transaction.

I'll keep it short and sweet this week, Happy Holidays.

Holidays are Here, You can Still Sell your Home!

Every year I have this conversation with my sellers. If sellers are willing to tolerate the intrusive nature of listing a home during the holidays, it can pay off with handsome rewards. My experience is that the volume of buyers drops off during December but the number of listings tends to drop more. I see a great deal of "withdrawn" listings begin to appear around Thanksgiving and through the New Year. These are likely sellers that wish to have some peace and tranquility with their families during this period.

The buyers that remain during this time of year tend to be serious about purchasing a home.The looky-loos are at office parties and family gatherings. With a temporarily tighter inventory, and serious buyers, the opportunity for sellers is magnificent. There is no sugar-coating the facts here, selling a home requires a great deal of effort on the part of the homeowner. The home needs to be kept tidy, it needs to be available to show on short notice, and the seller can anticipate a fair number of showings.It will be disruptive, but it will likely be profitable.

As I always mention every year as our weather turns wintry, follow a few key rules to keep a listed home appealing and safe. Keep leaves clear of the rain gutters and off the sidewalk, walkways, and driveway. Keep snow and ice clear of the driveway and walkway as well.If the home has a fireplace, have a fire going during showings and if you like to bake, bake something. One can also find lovely scented candles to add a warm and enticing feel to the property.

Have a great holiday season!

Thanksgiving in Six Days? Yikes!

Sellers often choose to forgo listing their home until after the holidays. It is understandable since most of us would like to take this time of year to spend with family and such. Having a home on the market can be most disruptive. But inventory remains tight, especially in the bottom half of the price range.

People that are out looking for homes during the holiday season are generally pretty darn serious buyers. Looky-loos and tire-kickers are doing the whole holiday thing. Having a home listed during the holidays can yield strong offers from serious buyers. Really, who is out in the rain and snow looking at houses when they could be inside hanging out with family and friends or at the company party? Real buyers, that's who!

I have offered up tips in the past about prepping a home for a holiday sale, you can look through the archives of Novembers and Decembers past to find useful information on the matter. In general, keep the clutter to a minimum, keep the leaves off the walkways, out of the rain gutters, and off the drive way. If it snows, be sure to keep snow and ice off the walkways and driveway.

Keep pet orders under control. Burn a scented candle with a holiday theme, bake some cookies, and if possible have a fire going during peak showing times. Some people are looking for a very specific house. If your house isn't it, then chances are no amount of warm and fuzzy presentation will sway them. But most buyers are less picky. If your house feels like home, they might just write it up!

I find buyers to be more focused and serious about their purchase during the holidays. Sellers are wise to keep that in mind when making the decision about whether to list now or wait till next year.

Happy holidays, may yours be warm and fuzzy all around.

The Holidays are a 'Serious' Time for Real Estate.

image from www.azcentral.com

I have said it before and I'll say it again; the holidays are a serious time for real estate. Anybody that is buying or selling during this time of year is very serious about real estate.

Buyers that are out in the weather during a time they could be at office parties, visiting with family, shopping for the elusive perfect gift, etc. is very committed to finding a house in a timely fashion. Otherwise why wouldn't they just put it off until the New Year?

Likewise for sellers. They would probably rather not have people tromping through their home during the holidays, when guests are over, the decorations are up, etc. Yet there they are doing just that. Maybe they just really want to sell their house?

This is a great time to buy or sell. All of the classic "looky-loos" are on hiatus while the serious contenders are still in the game. I will likely close four transactions this month and that is as many as I closed in the summer months. Don't take the holidays off, you might just get everything you want in the month of December!

As always, seller's should be mindful of the basics of presented their home to prospective buyers. This might be the year to keep half of your holiday decorations in the attic. Too much clutter can be a negative. Keep baking all those yummy holiday goodies because buyers love the smell of fresh baked cookies. Keep the walkways clear of tripping or slipping  hazards. Keep snow off the driveway and walkway.

Buyers are well advised to keep shopping during the holidays. Sellers are usually easier to negotiate with when they are busy with other aspects of their lives. At the point they have chosen to keep their home open during this month, they are motivated, whether they say so or not.

December is a win-win month for buyers and sellers so neither should shy away from the golden opportunity that December brings to real estate.

Ho Ho Ho It's That Time of Year, Again.

Christmas 2008, Vancouver WA

Holy Holiday Season, Batman, it's back! If you'll pardon the comic book parlance, it is a crazy time of year for most of us as Thanksgiving approaches and ushers in a hectic holiday period. Sometimes people are buying and selling real estate during the holidays and that can make a frantic situation downright dizzying.

There are positives and negatives surrounding real estate transactions during the holidays. Sellers can be assured that nearly every buyer looking at their house during the next six or seven weeks is a serious buyer that is ready to purchase a home. Why else would the add the frenzied process of home hunting on top of the looney-bin mental state of America's holiday season? Seller's also have the advantage of a tighter inventory during the holidays. Many seller's choose to remove their home from the market in December so they can enjoy a quiet and uninterrupted season. Tighter inventory often means higher prices. Many people tend to dress up the house for holidays and that can also be a positive for selling it.

Buyers also have a bit of an advantage during the holidays in that sellers tend to be motivated to sell if they are willing to hang tough and show through the period.

In general real estate still happens in the month of December and I find that pending sales are only about 10-15% lower than the autumn.

For sellers the winter time in general requires some care. Walkways should be kept free of leaves and ice or snow. Any holiday decorations should be arranged without any cords or cables crossing those pathways. Sellers should be encouraged to decorate but careful not to have too much clutter. Clutter does tend to make a home feel cramped.

Here are a few tips from the HGTV's Front Door on real estate during the holidays:

Frontdoor-home-during-the-holidays