By the time we're back at work on Monday, we'll be into the second day of October.
It's pretty scary how the year just seems to fly away after summer disappears and, believe it or not, this week we heard the first expert predictions we've come across for what will happen to real estate next year.
While it's fair to say that such predictions should be taken with a large pinch of salt at this early stage, given how so many forecasts never see the light of day, it again made us realize how important it is for both buyers and sellers to deal exclusively in the "now".
Even if 2017 ended tomorrow, it would still have been a phenomenally good year in Albuquerque real estate.
We've seen steady average and median price increases throughout the year, exceptional buyer demand and it's also taking less time to sell a home in the area. And while the increasing shortage of properties available for sale has not been the best news for buyers, they are still purchasing homes in large numbers, while sellers reap the dividends of reduced competition and multiple offers in an increasing number of cases, sometimes taking the sold price above the asking price.
Another key aspect of the market as 2017 has gone forward has been the sustained return of very low mortgage rates, following the increases we saw after last November's election (can you believe that's nearly 11 months ago now!). This has been a key market characteristic, positively influencing buyer sentiment for a few years now. Even the rise in rates we saw at the end of last year and beginning of this year did little to quell the motivation of buyers, who were still out there in significant numbers looking for that perfect home as keen as ever, acutely aware of the supply shortages we mentioned earlier.
All the above factors illustrate the situation we have right now in the Albuquerque area. It begs the question that if you're ready to move why wait until the spring?
Although it seems we're in a reliable holding pattern of good news, we all should realize how fast circumstances can change and what seem like racing certainties right now can very rapidly change complexion.
Yes, things could conceivably get even better. In truth there are never any guarantees, other than the situation that confronts us right now and the only conclusion on the present evidence is that it's just a great time to list a home.
The traditional high summer selling season has been challenged in recent years by very vibrant fall and winter demand for homes. The gradual change in the weather doesn't make any impact on the fact that there are so many excellent reasons why buyers should be taking advantage of the the circumstances that are right in front of them.
No doubt we'll hear more and more predictions for real estate as we move towards year end. Some may turn out to be accurate, others won't. The problem is we won't no which ones are right until the predictions either come true or fall by the wayside.
There's a very strong argument to look at what's happening right now and act on that. A waiting game is, frankly, a gamble with no guarantees of success.
Why not contact us today and find out how we can help you make the the most of the current situation to your best advantage.