Thursday, November 17, 2011

Fall frenzy: climate change

This has been an unusual Fall season, to say the least.  Here in St. Louis, the weather was inexplicably warm, sunny, and beautiful until just a week ago.  NO complaints here, as we long timers know that Old Man Winter will soon enough waive his fury leaving icy roads, traffic delays, and slippery side walks in his path.

Ironically, much like the weather... the Real Estate market has also experienced a delay in predictable shift.  Just last year, I blogged about the typical forced winter hiatus for the Midwest Realtor.  We had a huge discussion in the office copy room yesterday about this very topic, as agents hurriedly rushed around.  Many of us have not seen a slowdown yet this year.

Extremely interesting.  A welcomed surprise.

Over the past week: #11 Randy closed  and #183 Brightfield again went under contract.  In addition, I currently work with five active Buyers who are thankfully keeping me very busy.  The fact of the matter is, real estate is still moving.  Rates are low and the deals are unprecedented.  A realistic Seller/Buyer, well informed about the way this unique market works, can make a HUGE move in this market and save THOUSANDS of dollars. 

Is it easy?  Absolutely not.  There are major hurdles to overcome with bank foreclosures, Sellers who are financially strapped, Buyers who expect the moon and stars, and appraisers /inspectors who have become super, if not sometimes OVER diligent.  Emotions run high in this economy.  They just do.  That being said, if patient and dedicated to the cause... AMAZING opportunity awaits those who choose to take the plunge into the late Fall/Winter market!

The cause of the shift in activity?  Honestly, I don't know 100%.  Real Estate is cyclical and the cycle has changed.  Period.  We all feel and experience it.  I had an unusually slow beginning of year and am now experiencing an unusually busy winter.  Properties ARE moving, and swiftly if the property shows well and is priced to sell.  Qualified Buyers are getting WONDERFUL loan terms and even better deals.

The change has been a fun, wild ride.  The negotiation, while challenging on some days, has been exciting.  Interesting times, to say the least...