A lack of supply and high demand have created a crazy marketplace.
What’s the latest news from our real estate market?
I recently took a trip down at the Sea Casa in Port Aransas to do a little pre-spring break maintenance. While I was looking at houses in the area, I noted that inventory was as low there as it is in the Austin area. There are plenty of buyers out there, but there aren't very many houses for them to buy.
This supply and demand problem is everywhere, and there are a lot of things happening in our market. People are thinking outside the box, writing crazy things into their offers, and doing all sorts of other wacky stuff. Sometimes when things get this fast-paced, mistakes can be made, so as we deal with this super-hot market, make sure you’re not making any little mistakes, whether you’re a buyer or a seller.
Big mistakes are obvious, but there a lot of little things that can go wrong in a real estate transaction. If something goes south, people can get angry, so it’s important to stay calm and be courteous to others. Agents should be courteous to each other while we help our clients, and buyers and sellers should keep an open mind about what’s going on around them.
"There just aren’t a lot of houses out there and significantly more people are looking to buy."
We’re still coordinating transactions in this insane market. We have to do a bit more work and think outside the box, but we’re still crossing our t’s, dotting our i’s, and ensuring everything’s right with everyone so we don’t end up in a bad situation. Based on what I’ve seen out there and considering how some people are behaving, there are potential lawsuits on the horizon. Be mindful of what’s happening, and be aware of what you’re getting yourself into.
If you have an agent who hasn’t explained your sale contract or what each document you sign means, you need to be leery of that. Work with an agent who’s mindful about things and can fix everything if and when the you-know-what hits the fan. Also, try and enjoy the transaction. I know the situation is stressful right now, but there can be a lot of joy in the real estate market if we work together and do things properly.
If you’re thinking of buying or selling a home soon or have any real estate needs at all, call or email me anytime. I’d love to help you.