Covid Summer, 2020. Since the stay at home order was lifted at the end of April the houses have been flying off the shelf!! Go to setup showings for 10 houses and 5 are under contract. Even the houses you thought would never sell are selling…and close to listing price! What is going on….
My theory has some factual basis and the rest is simply my opinion based on conversations with clients looking to buy and clients who have bought. Here is what I think is happening: rates are low….great start, people are scared of the stock market after the covid drop so they are looking for more stable investments and the real reason…everyone was locked up with their family in their house/apartment/condo and they saw their neighbors with lake houses headed to the lake to play! I just know that has to be it…I can almost hear the conversations now. Husband to wife or wife to husband…”and why don’t we have somewhere to go when the world locks down?” We love our families but you know that was said….by a lot of people.
So now everyone is at the lake looking for lake properties. Those of us that sell property are like…awesome!!!…have 10 new clients but the problem is we don’t have anything to sell. The reality is there are about 3 houses in the 300-400k range worth showing (and they need fixing up). The numbers double as you move into the next $100k range but they are still not perfect. Once you get to the 700s you start to see the inventory get better…because this is where the spec homes are starting these days.
So…if you are looking for property on Smith, be patient, get educated and ready to pounce when something new hits the market. Call me and I will get you ready. OK rant over. JT