In late Spring and early Summer of 2013 and for a brief period in April and early May of 2014, the real estate market was humming. Good homes were getting bid on almost within the hour of them appearing on the MLS/BLC. It was the crazy season and for home buyers it almost had to be. Available inventory was down and buyers were wrestling to be in position to snatch that next home on the market. As a result silly, I mean SILLY money got thrown at homes in circumstances where buyers had virtually no time to make decisions. Buy this minute at least at full list price or someone else will. Not a highly productive position for home buyers to be in. For my home selling clients of course I wish we would have had more of this but for the health of the overall housing market it is NOT productive. Overpaying, which is what some people did, is not ever good for the overall health of home values. Overpaying translates into a bubble...even a mini bubble if it's just for short time and we all know what happens to bubbles. Most of this year has been measured and I think ultimately that's good for all. Perhaps not good for individuals who had homes that were appraised at a higher number due to the early season rush but those were aberrations, not trends. In essence it's good that it wasn't better. It will mean better health for the overall market next Spring when the seasonal urge kicks in again. If you're one who is pained by the slowness of your particular price niche, I do feel for you. Behind every home sale there is still a reason to be somewhere else. A job change, a family change, a move out of necessity especially at this time of year is a lot of work and emotional stress. It's not all that different stress that those bidding for homes felt when the market heat was at it's highest.
Greg Cooper top selling Indiana Agent Realtor Broker