Like a prize state fair pig exhaling, our too hot housing market is starting to show signs of a breather. Not a falling apart at the seams, collapsing breather, just a slight slowdown in some price points where a month ago there was none. This is not a bad thing. Homes will continue to sell and buyers are still out there but not every deal is going to be a first car in the drive, above list offer as it has been recently. With interest rates starting to tick up from the overheating, I'm all about the steady and consistent forward motion rather than the three alarm fire mode. Side note, last week there was a home that the first family in the door refused to leave. They loved the home, their agent had a contract with them and they discovered a fax machine in the home office. They stayed in the home for two hours with other buyers milling around out front waiting for their turn which would never come. The agent got a home owner's signature and faxed it back to the home where the prospective buyers were waiting. Sold on the first viewing. As an owner you love those kinds of stories. If you're trying to find a destination, you cringe at them. Whatever slowing that yours truly perceives is not a market or price point wide occurrence. It's just here and there on certain new listings where a month ago they'd be sold on day 1 or 2 now taking a bit longer. Don't panic Indiana. There's plenty left to go around. It's just important to let you know when it starts to change and I for one have always believed that when it does you should get the truth. We could call it seasonal or over heating but what matters is that for those of you getting ready to jump into the selling pool, you are carefully watching the signs. Your pricing and strategy and future dollars from your home depend on it.
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