Today’s track: Come Along Buddy — Joachim Cooder
People book fifteen minutes on my calendar and it’s always some version of the same question. What are you seeing. What’s the state of the market. Why isn’t my listing getting showings. Can you help.
Here’s what I’ve been telling them.
Inventory keeps climbing. We’re at 4,057 active listings in Louisville right now, and we’ve been steady above four thousand for a while. Multifamily’s at 170 and closing in on the two hundred mark I’ve had my eye on. If rates stay elevated, I think we’re looking at somewhere around 4,200 by November or December.
And rates are the whole story. When they dropped earlier this year, I sold four properties in six days. They went back up, and things slowed down fast. That’s the market report, basically in full. We are tied to interest rates, full stop.
I can’t predict where they go. Nobody can. It’s volatile, and most of the smart people I talk to think it stays volatile — we’re probably just going to keep printing money.
So is it a good time to buy or a good time to sell? Kind of both, which is a weird answer, but it’s the true one. If you’re selling, now’s the window. Kids are back in school, buyers are back out looking, and if you list this month you can close in November or December. Wait past that and you’re fighting the holidays and a January reset.
If you’re buying, the same rising inventory that’s stressing out sellers is your friend. If you’ve got the skill set to close with hard money, or you know your way around a BRRRR, we should be sending out offers — as long as it’s hitting your buy box, the LOI batches actually work. Andrew Schlag has a ton of good material on this on YouTube if you want to learn it properly.
It works even better if you take the time to learn seller financing. Harry Borders will tell you: use a land contract instead of a subject-to. A land contract doesn’t trigger the due-on-sale clause.
Winter’s actually a smart time to take on a bigger flip. Lowball something that needs real work, keep your crew busy over the next few months, have it ready to list in spring.
Outside of deals, most of what people actually reach out to me for isn’t a listing — it’s a referral. My incredible CPA. My best hard money lender. A commercial lender to refinance with, portfolio loans, etc. Two people asked me about HELOCs yesterday alone. I gave one of my best contractors away to a client last week, for work on their own house, nothing I get paid on. If you’re dealing with a bad partnership situation, reply and I’ll introduce you to my attorneys. Unfortunately, I’ve been introducing a lot of people to my attorneys. Mine are still helping me resolve the Joe and Kim Worth lawsuit. It helps having smart people in the corner who are familiar with the business. My attorneys share some other affluential/influential folks in the industry as well….meaning they’ve been there and done that thankfully. They are your’s if you need them. My whole network is your’s, you just have to ask.
I feel better serving. That’s really the whole business model. If you need something, reply and tell me what it is.
📊 Yesterday’s poll:
With inventory up…make people say no!
Today’s poll: What’s actually slowing you down right now?
What's actually slowing you down right now?
🏆 Reply “FIVE” and I’ll send you today’s Top Five — best deals on the MLS this morning, plus the lowball candidates and what I’d offer. One-to-one only. That’s not a tease, it’s compliance.
With Enthusiasm,
Rob Bergeron
Owner–Realtor at Award-Winning Winner Realty
Schedule time to discuss your goals, bottlenecks, or whatever’s on your mind — book me here.
PS: Average 30-year mortgage this morning: 6.59%. Monday I told you oil would bleed the rate out — we were at 6.66% then. Keep watching. Sellers are getting creative out there. 41 opportunities currently offering seller financing, including four multifamily properties and 22 land deals. If the bank’s rate doesn’t work, maybe the seller’s will. And if you just want to see what we’ve got cooking: current Winner Realty offerings.
PSS: Had a stimulating talk with Alex Conway yesterday, we might have revolutionized dating in Louisville. Need to run one thing up the food chain before launching. Would love to get a female’s perspective, hit me up!
PSSS: We are hiring associate brokers for Kentucky and Indiana, would love to chat! There is a path for you here at Winner Realty!