239 UNCENSORED

#102 | Real Estate - Why this market It’s not the crash of 2008, and here’s why! | Will this bubble break? | Should I sell my house? Should I buy my house? | Why is Inventory so low?

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239 Uncensored host, Tim Guerrette, interviews Adam Vellano, a long time broker and Sales Manager and Compass Real Estate about the current real estate market and how it compares to the mid 2000s housing crash.

What are the hard truths and what buyer's need to understand?  If the buyer truly wants to have a chance to get there dream home in this market,

they may have only hours to make a decision not days.

Good, new, listings priced “right” are getting offers immediately. Comps are out. If your comparing the one house in a neighborhood for sale and trying to justify pricing, good luck.

Comps can’t keep up. You have to be aggressive. Buyers must be willing to pay list or more to compete on new listings. Demand is so backed up that someone will pay. Days on the market are telling, many listings won’t make it more than 7 days before going pending. If inventory has more than 21 days on the market it’s safe to say it’s overpriced.

Cash is still king. If you are getting financing, have all your paperwork submitted, many lenders will give a conditional approval.

Repairs - don’t nickel and dime sellers on repairs. Seller's will walk, it happens everyday. Think long term, don't screw up a deal for a few bucks. Sellers will just relist and some cases end up with a better offer.

  • Key Takeaways:

There are opportunities in this market, new listings are coming on every day. 

You have to be prepared. Have your financing in order, know the neighborhood’s, make a quick, strong offer and don’t be petty with repairs. 

Most importantly, use a good agent that understands the complexities of navigating this market. FOMO is the theme of year. Agents and buyers are showing their frustrations.Just remember this isn’t the same market as in the 2008. Always be kind and professional.
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239 UNCENSOREDBy Studio 239
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