October 07, 2021

New Real Estate Market Requires New Strategies

October 07, 2021/ Erica Petri

Yes, the real estate market has finally peaked. Since 2016, we have seen 30% increases in property values on average in most areas. That is truly unprecedented in such a relatively short period of time. Record low interest rates (still hovering around 3% for a 30-year fixed rate mortgage) as well as a mountain sized group of millennial purchasers have contributed to this real estate owner’s bonanza. Warning: all that goes up…you know the rest. Thankfully we have stability right now in our financial markets. However, buyers are beginning to move to the side lines for two main reasons: first they grew tired of competing with other rabid purchasers and losing out on a home purchase, and second the price points have increased to where the current sticker price is turning young families away from submitting an offer. They want to wait for prices and inventory to trend to their benefit.

May 13, 2021

Is the Real Estate Pendulum Finally Moving…?

May 13, 2021/ Erica Petri

Supply and demand. That has always been the driving force in real estate. If too much supply and too few buyers, prices will fall, and properties will take much longer to sell and sell at a discounted price. This was displayed in the recession of 2008. Fast forward to 2021, and supply is at an all-time low with the buyer population at an all-time high. To add to today’s frenzied market, interest rates are at an all-time low. These are more “all-times” never seen in the long history of this country’s housing market.

March 22, 2021

Your Parents Should Move But Are Fighting Change: What To Do?

March 22, 2021/ Erica Petri

There comes a time when your parents start needing more supervision. At that point, it would be a good idea to have your aging parents move, either to downsize or to be closer to family. But don't expect that this will be a welcome change, at least not right away. Older people struggle with the idea of change to the point of fearing it. Because of fear of change, the brain seeks predictability and avoids uncertainty. For older people, uprooting their lives can be a source of the unknown.

March 17, 2021

"I Want to Sell My Home 'As Is!'"

March 17, 2021/ Erica Petri

When I answer a call from a would-be seller, or children on behalf of mom and dad, I often hear the statement, “we want to sell the home ‘as is’ without having to do any work on the home!” The exclamation mark at the end of that sentence reflects the tone of voice in their request.

February 09, 2021

Am I Going Crazy!

February 09, 2021/ Erica Petri

Thoughts are flowing in and out of our brains every few seconds. Some days we can manage them and others it feels like we are out on an island of crazy…all alone! Think how many times in your life you thought you were the only one with anxious moments and dread of the future. You and I both know you are not alone. Especially when it comes to our home and our future.