May 2018 Market Snapshot

What a crazy market this has been in 2018.

I’m seeing things I’ve never seen in real estate.

Here are just a few of the crazies:

1. Some buyers are waiving their right to a home inspection. That’s taking on some risk!

2. Buyers are waiving their appraisal contingency. Many others are just saying they won’t ask for any repairs.

3. Others are using escalation clauses. They will pay $1000 over the next highest offer. But with a ceiling price of course.

4. Lots of cash offers. Where is all this money coming from???

5. Crazy appreciation. I calculated 10% per year on a few of my listings.

I don’t see these trends changing in the near future. Only a sharp rise in interest rates could dampen this market. And we may yet see that.



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