What's Going On In Your Market?

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Anthony: Hey, everybody. I just spoke at the Carolina One conference here in South Carolina. What an awesome group of people there at Carolina One Real Estate. I spoke there today, I was in Florida yesterday, I was in Chicago two weeks ago, the Vegas the week before. I’m noticing a trend. I want to talk to you all about it, and I want to ask you. I’m always preaching on here. I very rarely ask questions but I want feedback from you all on what is going on out there in the market.

One of the questions that I’ve been asking audiences is I’ve been saying in the last two weeks, how many of you have dealt with a multiple offer situation? Then I say, “In the last two weeks, how many of you have saw a home that you’re surprised hasn’t sold yet?”

What’s interesting is when I asked those two questions back in May, first place I asked was down in Florida, everyone’s hands in the room went up when I said, “How many of you have dealt with a multiple offer situation?” When I asked the second question, how many of you have seen a home that hasn’t sold yet that you’re surprised at, 10% of the room put their hand up.

Folks, it’s completely switched in the last three weeks pretty much everywhere I go, way more people are saying they’re seeing homes that aren’t selling and they’re saying there’s less multiple offer situations. Now obviously, this doesn’t come as a surprise, this is how market slowdowns happen. The interest rates coming off being extremely low. One of the things they just said when I was speaking is, it was like it was Black Friday for two years with mortgage interest rates.

I want to ask you all, the question. I’ve been doing it in groups, I want to ask right here. Tell me what’s going on in your market, mention what market you are in, and tell me how many multiple offer situations are you still seeing, how many homes are you seeing that six months ago would have been gone by now that aren’t sold right now? Give us a market update right here in the comments here on Crush It In Real Estate so that we can look at them collectively as a group, everyone watching and participating.

Let’s work together, let’s talk about what’s going on in the markets. Hope that makes sense. I’m on the way to the airport. I can’t wait to get home. I’ve been away since Monday. My friend, Lisa, right?

Lisa: Yes.

Anthony: Lisa is driving me to the airport. Lisa, say hello.

Lisa: Hello.

Anthony: [laughs] She just got a real estate license and we were just talking about what she should be doing to get her business off the ground. That’s all my friends.