It’s a late night. I’ve got Johnny Cash spinning, and I’ve been having the best time on Pinterest! (Black hole of non-productiveness!) Ok, back to work……
Another decent 30 days. Lots of buyers in the low $250,000 range, and lots of USDA deals. Pretty much as fast as they can build them, they sell. I’ve used the Keynes “Animal Spirits” phrase a couple of times this week, if that’s any indication. If you have a house in the sub $300 range, please do give us a call! I can sell it.
Up over $300,000 it’s a different story. There’s really great value still up there, and if you can find a dual living situation (Like an ADU, for example) there’s some pretty compelling valuations.
We are starting to see the spring inventory come back out, but unfortunately, there’s a lot of retreads so far. Stuff that was overpriced, and is still over priced…..Oh well, more perma-inventory.
I’ve yet to see the inventory months come down, and I’m thinking that there is still some serious inventory overhang (just not sellable inventory) so that’s clogging up the works at the moment. It will clear up one of these days. Still a pending issue though.
This month, too, I got a flash of the future while I was out on the West-side. Standing there with some clients, I suddenly got the feeling that we actually might be at an inflection point on the land inventory. The clients were “typical” as in, I think I’ve got a growing rolodex of clients like these, and the pieces were coming together in such a compelling manner, I could actually see this deal happening over and over, and…..well you get the idea. I’m beginning to feel that the next “big” thing is land and lots.
Yes, I know. Crazy talk.
…And finally, on the commercial side (This is for you Shawn!) It has been so, so, so difficult to get deals done, that I’ve had a couple multi-year deals in the pipe, and finally. FINALLY they will close this month. That’s big news for my clients, and their customers.