Check out this brief recap of Eric Stewart's radio show that aired on August 16th on 105.9 FM WMAL! Eric discussed what the market looks like for buyers right now, including the limited inventory and competition among buyers. He also speaks to Helen Flynn, Realtor® and SRES®, about what has factored into the current market and discusses an app called FairSplit.
The Eric Stewart Show: Radio Recap Segment 1
Next month, Eric is celebrating the 16th anniversary of his radio show! He began the show in September of 2004.
The first topic of the show answers the question: how do you handle a buyer looking to buy in a market where there’s very little inventory?
In the current market, buyers are going up against other buyers in a very competitive market.
With the competitive market, there’s a lot of subpar properties that are selling really well right now. People are being much more forgiving about the conditions of homes.
This proves that timing trumps condition.
We’ve been in a 5-year cyclical contraction and supply, which has been exacerbated by COVID-19.
More listings are coming to the market but it’s still tight. Eric predicts that the market will continue to be very strong all the way into the fall.
There has been more inventory in Rockville but competition is pretty fierce all-around.
The overall demand cycle is very hot for many reasons; buyers and sellers need an agent now more than ever.
In the world of technology, there’s an app called FairSplit that allows you to list assets that are to be divided among multiple people.
It can be used in the cases of downsizing, divorces, or estates.
You walk through the house, take pictures and put them into a folder, assign values to the items, and then share with the people you are going to be dividing these items among.
The app also offers services to help you with appraisals, determining emotional value of an item, and mediating between family members.