Anthony: Many, many realtors are telling buyers are accepting the fact that rates are now at 5%. It’s just the new norm, it’s the way it goes. This is very good news because there was an initial shock factor with buyers pausing, buyers feeling like, “What’s going on here? I’ll wait, I’ll see what happens,” but now they’re accepting it. This is terrific news. It’s a good thing. Realtors need to remember to continue to emphasize to buyers that this is a much better time for people to buy than it was six months ago. Yes, rates are higher but they don’t have to compete with as many people, still multiple office situations but not with as many.
This is a very good thing to see, it’s good that buyers are adapting to it. I will tell you, I am hearing and seeing signs of sellers realizing, “Okay, maybe it’s not as hot as it was in the winter,” which obviously is the case. You will find sellers have a ways to go before they totally realize that sellers are very stubborn. We’re going to deal with more of that for the next three to six months until there are new sold comparable properties in the fall when things settle a little bit, instead of coming off the winter frenzy.
That’s it my friends, I am out to dinner with realtor friends here in Boston and I am going to have a little bit more fun and then going home and going to bed. I wanted to mention that, hope you’re all well and have a good night. Happy home selling.