Summer is here, and even though the outside temperatures are rising, the housing market seems to have taken a dip in the community pool to cool off. If you have been following along, you will notice that we started the year on fire and then slightly downshifted to just hot. Most recently, these past two weeks have transitioned to warm for me. Many elements factor into this cooling-off period, but here are my thoughts on it:
Buyer fatigue: Buyers are exhausted from the intense competition and need a break from the emotional roller coaster.
Agent fatigue: Believe it or not, we do need to sleep once in a while, and we have been sprinting for over a year! Pre-covid, the market was already sizzling, but since May of 2020, we have all been doing double or even triple duty.
Less urgency: More people are vaccinated and no longer feel the urgency to move because they’re spending less time at home and starting to travel again.
There is also a lot of turnover in the rental market. Debbie and I have four rentals with tenants who will be leaving soon, and there hasn’t been a lot of demand to replace them. I am confident that we will fill them, though. Some of the properties need maintenance work done, so this gives us a chance to do that without inconveniencing any tenants.
Prediction for the Remainder of 2021
While I certainly do not have a crystal ball, I think the market will remain warm for the summer and then likely heat back up in the fall. If you have been thinking about buying, you may have some opportunities to pick up a property this summer without worrying about as much competition. It will remain a seller’s market, but if you catch a listing during a week that other buyers are traveling, you may have a shot at being the winning offer.
Day trip to Shenandoah / The Perfect Getaway
Earlier this month, on a Saturday night, I felt the need to get away. So I said to Debbie, “Let’s get in the car tomorrow and take a day trip to Skyline Drive.” Late last summer, I took the boys there and purchased the annual pass, so we had a great excuse to go back and get our money’s worth before it expired. We hopped in the car around 9:30 am and arrived at Fishers Gap two hours later. From there, it was an easy hike down to the waterfalls. The water was frigid, but the boys jumped right in a waded around. After the hike, we went to the restaurant there to grab lunch. It was Debbie’s first time at Skyline Drive, and it did not disappoint. This trip provided the perfect 1-day getaway we needed!
New Year’s Resolution Update
Okay, I admit I’ve slipped most of the year so far, but these past few weeks, I have recommitted myself to getting in shape, sleeping more, and eating better. I am trying to exercise five days a week and keep meals between 12 – 6 pm. So far, I am doing a good job of sticking to the plan and am seeing and feeling the results. The community pool opening has given me an excuse to take a break each day to go swim laps. It’s a bit surreal to be back at the West Hillandale pool where I spent most of my summers from the age of 6 to 13!
One tool that is really helping me with my workouts is my Apple Watch. It automatically keeps track of laps, strokes, and time allowing me to just focus on swimming. I always forget how many laps I do anyway, so it’s great to have a more accurate count when I get out of the water. It also helps me push myself because when counting laps isn’t a priority, it frees up my brain to play mind games. I tell myself, “Just get to 10 laps,” then, “Okay, now you can certainly do two more,” which turns into four more, etc. Without my watch, I know for sure I would lose track of laps and not push as hard to go those extra few lengths.
Renovating Shepherd Park / Update on Hemlock
We finally got our permit for the second floor addition. Take a look at how it’s shaping up!
Can I Ask for a Favor?
95% of my clients come to me through referrals from all of you, and I can’t express how grateful I am for that! I’m never too busy to take a call, so please don’t hesitate to continue sending people my way!