Most conversations we are having these days are spent with buyers and sellers educating them about the current market. There are lots of assumptions out there with inventories at all time lows as to what that really means in the market. The 2nd quarter finished with 27% less homes on the market compared to the same time last year, while prices were up 5%. Yet, I can tell you that last month, we sold a beautiful home in the Northland that was on the market for 10 months and another in Johnson County, nearly a year; both selling at a loss to the seller and both knew what to expect. The reality is that there are still micro markets in the metro where the headlines of the day do not apply.

Of the 13 homes we listed and sold in July, one was to a buyer who used one of those discount brokers to list their home. The buyer overpaid by as much as $15,000 because of the agent’s lack of negotiation experience. So what they thought they saved when they listed their home, cost them that much and more when they purchased.

Hot markets tend to draw hundreds of people in real estate with little experience, chasing the “easy money,” unable to navigate the landmine of problems (appraisals, inspections, and even loan verification). At Group O’Dell, our 20+ years experience is a huge advantage for our sellers (and buyers) because of our good reputation in the city and our vast experience solving problems.

We are available to you and those you care about, through every kind of market.