What a spring we have had!! "Hair straight back" is the only way to describe it! Sellers are listing and receiving many showings within a couple of days and multiple offers in 3-5 days, especially in the $350,000 - $550,000 range. Homes are selling for list price or above. Even tired, dated homes are selling quickly. Buyers are scrambling to find a house and move on it fast enough. Realtors are running all over town!! I am certainly not complaining but just as a low buyer's market has it's challenges, so does a fast seller's market.
If you study the stats, the real estate cycle is a nine year cycle. We peaked in 2008 and we are on our way to another peak right now. If the "Nine Year Cycle" theory is true, we have about one year left of rising values and strong sales. I believe (in my humble opinion) this fall will be strong and next spring will be just as strong and maybe stronger than this spring. Then I believe we will begin to see another correction.
A couple of years ago, I blogged about our low buyer's market and how time was running out for buyers to get hot deals.
I am now suggesting you consider liquidating your real estate assets. Try listing a revenue property in September and see what the market will bring. I highly suggest you think about selling investment properties that are not long term rentals by next spring.
The valley is long and slow in the cycle but the peak can happen in less than 4 months. One month the market is still going up and the next month it could peak and be starting down the other side.
If you have questions or want to discuss buying or selling, please give me a call. I always have time to talk real estate with my clients and friends.