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<Steve>

Where is the Market Heading?

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Hey MC-

 

It has been a while hope you’re doing well. :) I wanted to check-in to see what you and others thought about where the RE market is heading? I know for me and in many other areas it has been a Sellers market and inventory has been low.

 

I sat in a real estate seminar class today and the speaker is one who is constantly traveling around in my state for RE. He stated there are a couple areas where new construction is picking up and everyone is in a frantic to buy "new". This is putting "re-sale" houses in less demand, lowering prices, and I would think potentially creating motivated Sellers.

 

Seems like this might be something to get in front of and rev up the Lease Purchase machine if this trend continues.

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Hello, Steve. It has been a while! Always good to hear from you. All is well down my way.

Real estate markets here are fairly well balanced. Properties priced well will attract attention and sell within 45 days or so. I see that as healthy. However, I see a potential slow down if prices go much higher. We're starting to push the limits, in my opinion, of where prices can go. Much higher and I think buyers are going to hit the "reject" button. That, combined with slowly rising interest rates could make for some antsy sellers and some profitable opportunities.

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Interesting timing. I was having a conversation with a homeowner last week about this. He was convinced that the new construction in his 'hood was going to increase the value of his house. I argued the opposite was going to happen. He cursed me, no deal was done, I hung up the phone and had an adult beverage. All is well, Steve. B)

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