Walter Molony
Walter Molony
consistent fairly greater likely move people younger
This has been fairly consistent over time. Younger people are more likely to move greater distances.
balance balanced buyers entering market period relative
We're going to be entering a period of relative balance between buyers and sellers. We're going from a sellers' market to a balanced market.
asked fourth third time
This was the first time we asked about second, third and even fourth homes.
abnormal asking happening markets people price rate supply tight
What's been happening in markets with tight supply is you have people bidding over the asking price. That's what's accounted for this abnormal rate of price growth.
certain level nor sustain
You get to a certain level of that doing that for a while, and you can't sustain that. Nor do you want to.
bit ease fairly might narrow range sales stay within
We think that sales might ease a little bit in November, but they should stay within a fairly narrow range through the first quarter.
case cash expenses good income months reserves six understand work
You need to understand cash flow. What's going to be your income and expenses on your property? You need good entrepreneurial skills. You need to have six months of reserves in case things don't work out the way you think it will.
ill might roll strategy
You might as well roll dice. This strategy is ill advised.
agents efforts estate known relief seen uncharted
But this is uncharted territory. We've never seen this kind of destruction. There are relief efforts down there and you have real estate agents as refugees. There is too little known at this time.
areas bit common five high last offer seller
Seller concessions have not been common in the last five years. Sellers haven't had to offer them. But as we become more balanced, especially in areas of high inventory, that's where you'll see the use of concessions become a bit more common.
growth household plateau population record setting streak
We've never had a streak like this. We think we've come to an end for setting a record each year, but we're projecting this is a new plateau because of population growth and household formation.
expecting higher percent
It's higher than we were expecting. We were expecting about a 4.6 percent rise.
buyers fell great market people time
It's not like all of the buyers fell off a cliff. There are still people in the market during this time, just fewer. Some people think it's a great time to buy or sell.
fire flood mountains obviously
If you're on a flood plain, obviously that's an issue. And in the mountains there can be fire concerns.