According to one agent I was speaking with earlier, “the nuttiness is over”. I hope he is right.
Here is my activity report for March. It was pretty nutty. That is going to be the word of the month – nuttiness.
76 and 6 and 3
I looked at 76 properties with my clients. Some were at open houses, but most were whirlwind visits with agents leaving as we arrived and arriving as we left.
There was one set of lost keys and one lockbox hanging on a shrubbery, yes that’s right hanging from a shrubbery. Usually you will find lock boxes on front doors, garage doors, porch railings or hose bibs, but shrubberies, that was a first.
Of the 76 properties we saw, at the time of this writing, 64 of them are already sold firm. Having conditions in an offer is the kiss of death. I was on both side of that scenario a week ago where my clients won once with an offer thousands of dollars less than a higher offer with conditions while another client lost out by being $5000 more than the next best offer but they had conditions.
I worked with 13 clients in March, did six offers sold three properties. Two of my clients won on their first time out and the third won on his third offer this year. Of the three clients who were successful, two of the three I started working with in October of last year.
They are all very happy to be finished with their home shopping and are now peacefully waiting to close.
I’m still tracking all of the properties that I see with clients or that clients ask me about. The bad news is that properties that my clients were interested in sold for 17.4% over asking price in March. In February that percentage was 14.45%. Of course this is a reflection of the clients that I am currently working with and not a reflection of the real estate market as a whole.
But it is a bad trend.
But finally, as mentioned above, the market might just be returning to a mere craziness from a total nuttiness.
We will see.