August's theme was Summer Stagnation and election hesitancy. Statistics from August show that although homes are still selling, they are doing so at a slower pace, with more sellers offering concessions to get the deal done. Over half of properties sold statewide had some form of seller-paid concession to attract buyers. September is traditionally a slow month due to back-to-school and end-of-summer distractions. Sellers will have to continue to put their best foot forward to make their property stand out to appeal to a shrinking pool of potential buyers.

For a well-qualified buyer, there are many opportunities presenting themselves in the marketplace. There are potential deals coming that have not been observed in the last 4-5 years. There have also been considerable price drops from original list prices. I have been seeing some great opportunities for buyers testing the market.

The Fed did ease by 50 basis points; keep in mind that the bond market has already priced this in, and rates may have an initial reaction but may not go much lower. The state legislature had a special session to address the steep rise in property taxes. Although some relief was provided, the bill only caps how much taxes can go up in the future but does not provide retroactive relief.

Whether you are buying, selling, or investing, our experience can work in your favor, just as it has for so many of our clients.