Are you having one of those days or weeks that you just cannot keep up? Are you overwhelmed with every aspect of your life? Do you feel like you are in the worst game of dodgeball, and you are the only member of your team that is being bombarded by zillions of red dodgeballs?

Welcome to the life of anyone working in the present world of real estate. Whether you are a Realtor, a lender, an inspector, an insurance agent, or a financial advisor, this is your world on a daily basis.

Let us start with the Realtor’s day. If anyone tells you the market is changing and/or shifting, they are weeks behind on their news. The market HAS changed and shifted. As Realtors we sit daily with sellers who may still believe their home will sell for $100,000 over asking with 22 offers. While the anomaly home or “diamond in the rough” home may still exist, sellers must adapt and adjust to the present market. The home they are selling MUST be the most competitively priced home with minimal repairs and realistic sellers.

When counseling buyers, the buyers that are still in the market since the increase in interest rates, their buying power has decreased by $50,000 and their mortgage payment increased $500 to $700 a month. Buyers have been pushed out of the market because they can no longer qualify for a loan that they qualified for a month ago. Also, in keeping up with the present market in Tracy, our inventory is presently at 97 homes whereby 45 to 60 days ago we had 50 to 60 homes on the market.

My lender friends are sharing that buyers are expecting them to be fortune tellers and clairvoyants. Lenders are being asked to specifically know when the interest will go up or down. Buyers are struggling, understandably, whether they should buy now or wait. My insurance friends are struggling with the recent fires and the insurance premium increases. Buyers who want to buy in high-fire areas for retirement in the mountains cannot afford the monthly premium. Sellers in these areas are having a tough time selling at market value knowing the buyer must have a reserve for the insurance. Financial advisors are being asked to predict recession and if it is coming, as well as how will inflation affect my retirement. My inspector friends are being asked by buyers if the seller will fix all the blemishes found. They must remind the buyers that the seller may only address safety, health, or code violations.

Bottom Line

My friends, all I can say to this feeling of out of control is to please catch your breath for a moment. Realize that we all truly are trying the absolute best we can to bring buyers and sellers together in a positive and financially amicable way. Please offer each other a little grace, patience and understanding. The market will continue to change, and your real estate professional will bring you the best information to you that is humanly possible. Good health to you always!

• Donna A. Baker is the Broker-Owner of At Home Real Estate Group in Tracy, selling real estate for 21 years. Her memberships include National Association of Realtors, California Association of Realtors, Certified Residential Specialists, Central Valley Association of Realtors, Accredited Buyer’s Representative, Certified Distressed Property Expert®, and Short Sales and Foreclosure Resource.

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