Just last month, I was able to refinance my home to an even lower rate than what I had in 2008. I am just amazed that I have a mortgage with less of an interest rate than what my parents paid for our home in 1968.
When there is a shift in the market to a seller’s market, there can be a frenzy to buy homes quickly before someone beats you to the punch. I have had my share of buyers that wanted to see a house only to find out that the house was sold in two hours.
Have you ever heard of the spreadsheet guy? It is today’s modern buyer. He is highly educated, highly motivated, and beyond analytical. This is the guy that goes out to look at homes with his laptop or iPad in hand.
What is absorption rate pricing? Here is a quick definition: Absorption rate pricing answers the question, “How many months will it take to sell all the homes in my area at the current rate?”
Many times, I would go on a listing appointment to talk with a potential seller and they would tell at the end of the presentation, “Well, I really don’t have to sell!”
When I came out of college, I got a job selling cars and some of my fellow car salesmen were involved in the old “bait and switch” tactics of selling.