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1,752,024
Alan May
Jameson Sotheby's International Realty - Evanston, IL
There's no place like home.

When all the kernels have popped, and they start to burn.

Oct 14, 2020 10:50 AM
Ambassador
3,041,086
Anna Banana Kruchten CRS, CRS, Broker, Instructor
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

I've seen this happen many times over the years.  It 'appears' that all of a sudden buyers stop looking, homes start hanging on the market - sometimes it lasts 3 or 4 months. Sellers think.....crap maybe we need to be more reasonable and lower the price. Once they get low enough, buyers start buying again. I personally think this is a good thing as I know well - too well - how destructive long standing hot markets can be. I can see this trend show up in market reports that we did for years and years and would advise buyers and sellers accordingly

Oct 14, 2020 01:08 PM
Rainmaker
478,873
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

That is our market now. No inventory and massive demand pushing prices sky high.

Oct 14, 2020 12:00 PM
Rainmaker
898,170
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Not sure but go back to 2006

Oct 15, 2020 03:13 AM
Rainmaker
1,632,017
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Never thought about it but I would say if your buyer looses out 3 offers it starts to become problematic.

Other areas would be how many K over list price.

Oct 14, 2020 03:42 PM
Ambassador
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Unable to determine that Peter but Alan's answer looks about right! LOL

Oct 14, 2020 02:41 PM
Rainer
223,087
Don Baker
Lane Realty - Eatonton, GA

when there is no inventory

Oct 14, 2020 02:18 PM
Rainmaker
1,316,332
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

My feeling is when there is 1.5 or fewer months of inventory available.

Oct 14, 2020 11:37 AM
Rainmaker
831,758
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

We have seen this movie before. Pass the pop-corn.
The exact time  is 3 months after your Grub-hub delivery guy shares he's making a killing with quick-flip'n. 

Oct 14, 2020 11:29 AM
Rainmaker
5,005,835
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

I like Alan May 's comment and we agree.  A

Oct 14, 2020 11:02 AM
Rainmaker
2,902,877
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

At the boiling point.

Oct 14, 2020 10:04 PM
Rainmaker
349,859
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

When the hot air pops the balloon!

Oct 14, 2020 07:21 PM
Rainmaker
2,570,373
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Backlog is a good tell tale sign as in things taking longer than usual

Oct 14, 2020 12:23 PM
Rainmaker
3,111,023
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Peter, the hot market got overheated when their is less than one month available inventory.

Oct 14, 2020 11:52 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

That depends..

Are you Buying or Selling?

Oct 14, 2020 07:25 PM
Ambassador
3,768,704
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

When the inventory falls below a 1-month supply....or when it gets to a neutral market (6-month supply). 

Oct 15, 2020 07:36 AM
Rainmaker
3,710,895
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I was going to say when everybody gets a real estate license, but Alan May summed it up better!

Oct 15, 2020 05:12 AM
Rainmaker
709,251
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Starting to happen now...  The initial rush of buyers back into the marketplace after the stay home initiative has normalized some with many getting tired of losing out on mutiple offers.  Sellers only expect to get over asking now and get irritated when they get what would be considered a great offer not too long ago.  Time to reset a bit... 

Oct 15, 2020 04:32 AM
Rainmaker
2,016,795
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Bob Crane is right. Depends who's ox is getting gored. And also, one area of the country could be parched and overheated from activity and take your money and run happens. Cash in the chips and head to other real estate markets cool, calm and where you clean up on your purchase. Having money left over, living free and clear with no mortgage. Rural areas warm up when other urban markets overheat.

Oct 15, 2020 03:06 AM
Rainmaker
1,939,103
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Good question to ponder .......

Oct 15, 2020 02:46 AM
Ambassador
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Year 2006 was the defining "overheated market".  I saw people pay $250K for 2/1 condo conversions that were worth maybe $75K.  Many of those people got NINJA loans that they could never repay.  Concepts like "strategic default" became de riguer.  The foreclosure list at the County Courthouse was several pages long; it took two to three years to get those through the system.   We aren't anywhere near that yet, but if it doesn't slow down, we could see it again.

Oct 14, 2020 09:01 PM
Rainmaker
643,640
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hopefully not soon. lol 

Oct 14, 2020 06:05 PM
Rainmaker
551,862
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

When there is low or no inventory in the lower priced market.  

Oct 15, 2020 09:00 AM
Rainmaker
3,208,422
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

When buyers stop buying or lenders stop lending

Oct 15, 2020 05:07 AM
Rainmaker
802,337
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

If I really knew the answer to that question, Peter Mohylsky. Beach Expert, I think that I could make serious money.

Oct 16, 2020 06:39 PM
Rainmaker
517,481
Steven Nickens
Wailea Realty - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Well I say make hay while the sun is shinning. On Maui we are having a surge in the market, people want to get out of dodge.

Oct 16, 2020 12:23 AM