August is coming and in short order I will have TWO middle school age boys. I swear, they were 2 and 4 years old just yesterday. Tackle football is also coming to the West family. I personally LOVE to play, but I’m not loving the idea of my 13-year-old doing it. Hypocrite much? Yup, but it’s my kid, plus my wife is going to freak out every time a player even grazes her boy. I am positive any injuries will be all my fault ?.
While I am sure you love hearing about my family, you would probably prefer to hear about real estate. Essentially, real estate is very steady right now. A perception currently gaining momentum is that “what goes up, must come down.” In the past month, I have been asked more than at any other time this year if the market is hitting a peak, are we in a bubble, is it a good time to sell, etc.
No, I do not think we are in a bubble. Interest rates are steady and lending is under control since banks are not financing anyone with or without a pulse. I do, however, think we are at or near the top of the market for the year. Our local market often feels like it’s crazy hot and then quickly shifts gears in late August as the school year hits and life returns to the usual routine.
My biggest concern regarding the real estate market remains politics and the economy. While some people are waiting for real estate prices to come down, there are even more people waiting for the stock market to correct or for Trump to seriously stumble. I believe these issues are hopelessly interconnected and it could take just one challenging political or economic event to activate some of these fears.
In the absence of such an event, all other metrics remain good. Employment is solid, corporate profits are high, and Amazon is taking over the world. Can I just say that Alexa should become a mandatory household item? As a new Alexa owner, I am totally geeking out on it and my kids are having a great time with all the things she can do, including hurling insults at us through her Meanie app.
In closing, I hope all my clients are doing well. I want to send a special thank you out to the Howe and Girard families for two great referrals this month. It is truly appreciated. If you or any of your family members, friends, neighbors, or church community needs any real estate help, please let me know. My team and I will take great care of them! Have a wonderful August and get ready for the return of the NFL!
Sincerely,
Stefan - AKA Mr. Murrieta