Today in Cincinnati Real Estate

For Buyers. For Sellers. And Everyone Else.

A Busy Market. An Unwritten Blog Post

contract to purchase

It’s Monday night, 11:51 pm. And I intended to post today. I had lots of topics percolating in my mind, ready to leap into blog-dom. The topics are more than fully perked. But the post wasn’t posted.

And frankly, my morning walk wasn’t walked. My dinner wasn’t cooked. And the TV show I thought I might get to watch tonight was utterly unwatched.

The real estate market is very busy right now! (Alternate title for this piece: The Market that ate My Blog Post.)

Finalized two contracts today. There was a walkthrough. There was an inspection, and two more scheduled. There were multiple showings with multiple buyers. There was photography of a new listing. There was an agent giving me a backup offer on a house that is already under contract. Talked to an agent whose client thinks he wants to make an offer on my client’s house…though the house is not yet on the market. (Second time that happened this week.) There were multiple discussions, with multiple people, about buying before selling or selling before buying. There were financing questions and warranty repairs and title company conundrums. And there was a cell phone battery that, well, just couldn’t keep up.

There was a notable lack of writing time.

There was the person (#992 since Saturday, I believe) who said, “Well, I guess things are quieting down in your work since the market gets slower in the fall.” This year? Nope. No. Not really. Not at all. Not enough hours in the day. Not even close. No, things are not quieting down.

It is true, historically, that Fall and Winter have a smaller number of buyers than Spring/Summer. But I have been predicting for months that this would be a brisk Fall/Winter because the low inventory of homes for sale has meant that there is LOTS OF UNMET DEMAND. Lots of buyers who couldn’t find the house they wanted, because there’s nothing out there in their price range or matching their criteria. And lots of buyers who DID find the house they wanted…but lost out on it in multiple offer situations. And an incredible number of buyers who have sold their previous homes and are now living in their parents’ basement (with their baby and their dog) waiting for a house to come available. Or living in a short term rental while waiting. Or sleeping on their sister’s couch while waiting. Lots of buyers showing up at Open Houses and telling me they REALLY need to find a house soon because they just can’t keep living in their temporary quarters much longer…maybe not even a minute longer. LOTS OF UNMET DEMAND. So I’m on record with my prediction that the pace this Fall/Winter is going to be very brisk. And I have the dark circles under my eyes to prove it.

This is not the post I thought I was going to be writing today. This is not the well-percolated post I didn’t have the time to write. But these are the things that made sense to say, because this blog is called “Today in Cincinnati Real Estate,” and this is what it was like today.
……
Tuesday morning, 7 am. Reviewing market data and getting ready to post this. Data says local home sales were 23% higher this September than last September. Yup. Well, yeah, that’s a succinct way to say what I was saying….

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