Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
4,058,517
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Each market is constantly changing as new listings come on the market, price changes occur, properties go off the market (expire) or sell. There are changes occurring all the time.

Sep 14, 2018 11:28 PM
Ambassador
4,200,499
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Yes, but, I was just in a bidding war today so, there's still some selling going on!

Sep 14, 2018 11:55 PM
Ambassador
3,036,752
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I am starting to see a slight shift. 

Sep 15, 2018 07:55 AM
Rainmaker
4,052,971
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Yes, but it's not consistent across all areas and price ranges. In the luxury market we have some seven months of inventory now. But try and find something under $250K and it's a different story.

Sep 15, 2018 04:52 AM
Rainmaker
3,995,106
Richard Weeks
Dallas, TX
REALTOR®, Broker

In our market correction maybe but not a shift.

Sep 15, 2018 03:27 AM
Ambassador
5,357,172
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

It started a while ago in the luxury market, and it is working it's way down.

Sep 15, 2018 01:41 AM
Rainer
20,325
Romylio "Romeo" Cordoba - NSB Realtor
Adams Cameron and Co. Realtors - New Smyrna Beach, FL
Daytona Beach Real Estate Agent

I definitely see it in some areas. In others its still very competitive.

Sep 15, 2018 01:37 AM
Rainmaker
5,571,310
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's a price issue.... there are plenty of buyers...but those buyers are savvy buyers....they've been watching the prices rise... holding off on buying...but when they see the right product for the right price, they jump....we've experienced it....  drop prices across the board on listings that have lingered... 

Sep 15, 2018 05:36 AM
Rainmaker
1,173,522
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I see/feel it right now.  I am also seeing houses not getting asking price but closing about 1-2% below asking.  

Sep 15, 2018 07:29 AM
Rainmaker
1,715,898
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

coming soon? Already happened so you are behind.

Hope this isn't a referance to Gary Keller stuff.

 

Sep 15, 2018 05:12 AM
Rainmaker
985,062
Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I do. This area is overheated, price wise, and homes over $500K are hanging around longer. in my town, We still need inventory

Sep 15, 2018 04:17 AM
Rainmaker
1,514,105
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

yes, inventory is up in many of my areas. 

Sep 14, 2018 11:53 PM
Rainmaker
766,566
Eagle Ridge Realty
Eagle Ridge Realty - Gilroy, CA
"Our Performance Will Move You!"

In my area, as the days grow shorter, the DOM have been growing longer.  I'm seeing many price reductions.  It was a good 2-3 year run.  Low housing inventory and an influx of tech workers made for an interesting, competitive market.  

Sep 15, 2018 08:21 AM
Rainmaker
1,213,009
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Since February above $800K and Since August above $600K. But as we know from Bold Predictions last year ( Buffini & Company ) we knew this was coming.We also know there's a recession coming in 2 years or so. And Recession does not equal housing crisis.

Sep 15, 2018 07:22 AM
Rainmaker
2,062,464
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Yes, it is coming.

Sep 15, 2018 08:25 PM
Rainmaker
1,596,531
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Time will say..

Sep 15, 2018 08:24 PM
Ambassador
4,557,291
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

We are seeing some changes but not consistent - varies by price, community, etc.

Sep 15, 2018 08:37 AM
Rainmaker
4,155,903
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Seems to be a general trend across the country but real estate is still a local thing and some markets remain hot.

Sep 15, 2018 06:27 AM
Rainmaker
1,104,614
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

The shift you see is what is called a balanced market. It's where Buyer & Seller get a chance to breathe.

Sep 15, 2018 06:26 AM
Rainmaker
1,149,009
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Experiencing since summers. Homes do not get that many offers. Marketing time takes longer. Worst part is mortgage interest rates will move up this year may be 2 more times. Right now it is 4.62% for 30 year mortgage.

Sep 15, 2018 06:22 AM
Rainmaker
1,385,024
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

YES! This week was SLOW in comparison to summer days!

Sep 15, 2018 05:34 AM
Rainmaker
1,866,205
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

We have seen a shift in the market. 

Sep 15, 2018 04:38 AM
Rainmaker
4,172,892
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I am seeing a slight shift to a more balanced market.

Sep 15, 2018 06:24 PM
Rainmaker
702,405
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

    

                                         SHIfT  Happens!!!   

Sep 15, 2018 12:13 PM
Rainmaker
3,966,917
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

for the first time since a year ago  we have more inventory in 2018 then 2017

Sep 15, 2018 11:04 AM
Rainmaker
6,539,560
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Our market typically slows a bit at this time of the year.

However, thousands of unit are under construction.

The dramatic increases in lumber prices and other materials will definitely impact home prices and affordability in the coming months.

Sep 15, 2018 07:45 AM
Rainer
321,157
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

We've been seeing a correction for the past 3 months. Depending on the area you are looking and the price point, you are seeing many more price changes and some higher DOM. Not as many full price and over asking price closings.

Sep 15, 2018 07:08 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I see changes all the time.

Sep 15, 2018 06:54 AM
Ambassador
2,563,721
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

It's been that way here for a couple of years.

Sep 15, 2018 06:20 AM
Rainmaker
3,321,241
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

We have the tale of 2 markets, starter homes still sell in days while homes over 330k are sticking around a lot longer. The rise in interest rates is catching up to the market

Sep 15, 2018 06:04 AM
Rainmaker
5,524,260
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

Markets are constantly shifting, like the seasons that come and go...The frenzy has gone, still exists, or is going through a correction...It is about adaptation to the market conditions.  A

Sep 15, 2018 06:01 AM
Rainmaker
2,634,031
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I sense something vague and in the shadows...not identified as yet...

Sep 15, 2018 05:47 AM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Not yet

Sep 15, 2018 07:05 PM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I have been hearing from California investors about a bit of a slowdown.

Sep 15, 2018 01:52 PM
Rainmaker
759,996
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

I do feel the shift Praful Thakkar .  Properties are sitting a bit longer and multiple offers aren't all the norm...  Seems like back to normal but consumers and many agents adopted the frenzy as the normal and now are panicking.  

Sep 15, 2018 10:01 AM
Rainer
267,469
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

no sluggishness here.  We're going full speed ahead.

Sep 15, 2018 09:09 PM
Rainmaker
660,007
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

No yet. Market still strong here.

Sep 15, 2018 08:45 PM
Rainmaker
548,950
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We do. Some of it is seasonal, but some may also be due to our prices - and rising interest rates.

Sep 15, 2018 02:31 PM
Rainmaker
4,433,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Sep 15, 2018 08:41 AM
Rainmaker
4,882,162
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It has slowed here since June, and did not come back as we thought after Labor Day.

Sep 18, 2018 09:51 AM
Rainmaker
1,380,173
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't buy into this as a market "shift".  I've had this discussion offline and on other boards as well.  Basically what's happened is prices have gotten so high that the buyers are now priced out.  Prices are coming down to where buyers can afford to offer.  The days of "pushing the envelope" are gone in my market, now we're back to reality.  This is simply the greatest law of economics, known as "supply and demand."

 

The hysteria and hype of a bubble burst/shift/correction/etc. is mainly from newer agents (say, 5 years or less in the industry) who have never seen a true market cycle of ups and downs.  They've only seen rapid acceleration.

Sep 17, 2018 10:40 AM
Rainmaker
894,812
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Our market has slowed. Inventory is rising. IMO...this is a buying opportunity before the inevitable force of demand vs. supply pushes prices up again.

Sep 16, 2018 03:57 PM
Ambassador
965,130
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

I saw it coming a long time ago - on the lending side we analyze market trends and data that many real estate agents fail to.  Wages haven't kept up with home values, economic indicators are tipping toward recession, and building supply hasn't kept up with demand which hasn't kept up with expectations of buyers (everyone still wants a home built today, priced where it was 4 years ago, at a rate a full % below current market ---- this is why consumer education is so important!)

 

People can't afford homes, and the typical "supply/demand" model is out of whack because outside factors influence how quickly supply can be supplied in our industry.  The only things that can change are a) people can make more money or b) home prices have to come down

 

We're in a lull where we're experiencing a decline in appreciation but not yet depreciation.  The first step is longer DOM.  The next step is values coming down.  Then we'll have buyers step up and hopefully a balanced market (if the next recession isn't too bad).

Sep 16, 2018 02:55 PM
Rainmaker
872,165
Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

Yes, is my answer before reading the other posts.  

Sep 16, 2018 04:57 AM
Rainmaker
1,212,246
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

Perhaps a shift to a more balanced market in some geographical areas.

Sep 16, 2018 03:07 AM