How would you describe the real estate market right now?
It’s been interesting. In March of 2020 when the pandemic was first announced, our team went home to be with family. Not a week went by [and] we were all back in the office, calling our clients and checking on everyone. Since that day, our business has never been so busy. The past year and one half have been seven-day work weeks for us all. Buyers coming into our community to purchase, sellers downsizing ... locals, out-of-staters, elders coming to live near family, we have seen it all. The demand has been high for all price points.
How do you see the market playing out in the coming months and heading into 2022?
This is the big question. We have felt a slowdown in both showings and in new listing inventory to come to market. It is not unusual for August [and] September to be a bit slower than summer, yet I can’t tell yet if it is calendar market timing, or is this market shifting. I do think we will see a slowdown in multiple offer activity, and home prices will likely stabilize. Going into 2022, we expect interest rates to rise some, but not over 4%. We truly have been blessed for a long time with low interest rates, it feels now like the norm. Eventually markets do change.
What are some pros and cons of buying a home at this time?
Pros [are that] buyers are still able to get in and purchase with the lowest interest rates of our time. Cons may be that these buyers have less choices.
Challenges of big sales
Large estate properties require special preparation for a real estate team.
On Aug. 31, The Kink Team sold a $7.5 million property, which it said is the most expensive in The Woodlands’ history. The team said its processes for a high-end sale like this include:
* handling each detail needed to prepare the home for the market;
* tailoring a marketing plan, including digital and print;
* and using contacts in and around The Woodlands.
The Kink Team
2201 Lake Woodlands Drive, The Woodlands