What's going on in this crazy real estate market???
When I first got into this business, more than 10 years ago, we were in a deep buyers market, with over a 1000 homes on the market, some of which sat for more than a year. Home sellers were having to pay big bucks to sell a home back then. I recall one home seller, who owned a 3-level townhome on Seal Place in Waldorf, who paid $22K at the settlement table! Then over the last 4 years we went to the other extreme. If you think it is crazy today, it was even crazier just a few years back.
From my perspective, it is starting to feel a bit more normal, not so hectic. Sellers do have to plan a bit more in advance, and unfortunately those that wait until the last minute to sell are not going to be happy having to jump through so many hoops. There are actually seller across the country giving gifts to buyers in an effort to entice them to buy their home. These are big gifts too; Plasma TV's Trips to Hawaii, completely furnished homes....ok, so I guess there is still some craziness going on.
