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No Man Ever Steps in the Same River Twice, For It's Not the Same River and He's Not the Same Man - Heraclitus
This statement from the Greek philosopher Heraclitus means the world constantly changes and no two situations are exactly the same. Just as the water in the river is constantly moving past us, so we never touch the same water twice. So too, by our actions we cause a small change in the river bed changing the river itself.
Generally, these changes are nearly imperceptible, but they are changes.
The real estate market has been through many changes throughout the decades; high interest rates, foreclosures, and now low interest rates and supply shortage.
Some national monitoring agencies who study the real estate market note that showings on homes and offers have started to moderate a bit.
Some of the reasons are:
Buyer Fatigue – buyers who have lost out on several homes through bidding wars have resigned themselves to just stay put for now.
Record Price Appreciation – Home prices are climbing quickly, but buyers mortgage qualifications remain the same. Buyers shopping at the top of their affordability are seeing homes sell for more than the asking price preventing them from their ability to afford that home.
I want to be clear that the real estate market is still red-hot, but if you are experiencing buyer fatigue, hang in there. Just like the river flowing by, the real estate market is ever changing. Keep up hope and watch this article each month for updates on the direction of change.
Jonathan R. Krause President Gambino Realtors
815.282.2222 | www.GoGambino.com
