For those of you who didn't see her book, the title is "Stop the Insanity." The pretty much describes the national real estate market. I spent all day Friday, Saturday, and Sunday showing houses, writing offers and getting them turned down, until finally at 11:30 Sunday night we got one accepted.
To give you some idea, in a normal market, there are usually about three months supply of houses available at any one time. That means if there suddenly were no new houses, we could still meet demand for three months. The current market is 0.4 months - less than two week. I know in parts of the country, houses are going for $100,000 or more above listing price. Here, our offer that was accepted was $15,000 above - and we had two that were turned down at that price.
There's going to be a bust at some point. Those of us who are long time salesmen expect it - the only question is when. THEN it's going to be fun, because all those people who are in real estate because they thought it was easy will be getting OUT of real estate - which would be a good thing from my perspective. This is my career!
Glad I got Book Four finished - this month has been crazy. Oh - and Chapter One of Book Five IS almost done. Even with the crappy weather, and the tornado destroying a marijuana farm near here last night. (Seriously - KOCO had the video from their chopper - a direct hit on the weed farm in Maud. And yes, that's a real town SE of OKC.)
Oh, and if Susan puts Right Guard on before exercising, does that mean she's keeping her Powter dry? Or if she puts it in the wrong spot, her pooter? (Where's the rimshot sound effect?)