"I will not participate in a bidding war"

Monday, February 21st, 2022

This is something I hear my clients say frequently and you just can't push them in these situations. Maybe they'll get the house, maybe not. But you gotta go at their pace and make sure they have time to test the waters and see what happens when they make an offer. That often means writing three or four unsuccessfully but every so often we get lucky and it's one and done. I'm feeling lucky today.

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NOCO Real Estate Market Report / February 2022

Tuesday, February 15th, 2022
Ryan Jenkins

We have reached all-time lows in inventory despite significant mortgage rate increases. Rates are now bouncing around 3.6-3.9%. It’s important for buyers to note there is the same number of homes coming on the market each month as there were 10 years ago. They are just getting purchased more quickly by a pool of buyers that is larger than we have ever seen in history. This large buyer pool is simply a function of demographics: there are more people in the prime home-buying age bracket (late 20s to early 40s) than there has ever been. Interest rates add fuel to the fire. But demographics are the foundation of the persistent supply shortage.

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