Here’s a closer look at the spring Albany real estate market.
There are three things on my mind today that I’d like to talk about: COVID-19, our spring market, and helping others.
First of all, it’s good to see everyone is getting their vaccines. However, it doesn’t mean the pandemic is over. Last week, one of our sellers still caught it after getting their first shot. At this point, I probably know 30 to 40 people who have had COVID, so please remain vigilant. I get my second shot next week, but I’m still taking all the precautions I can to keep myself and others safe.
Meanwhile, our spring market has arrived, and it’s only gotten hotter. Right now, there are two Realtors for every active listing in our area. In certain markets, there is only a three-week supply of homes—in my 30 years in the business, I’ve never seen inventory that low. This means it’s a fantastic time to sell your home. I helped one seller make $70,000 over asking price last week, and it was a cash offer with no inspections. Buyers shouldn’t get discouraged, however; although prices are up, interest rates are incredibly low. Your payment now is actually lower than it would have been 10 years ago. The affordability is still there.
Finally, something awesome happened recently. There was someone I did an appraisal for 15 years ago—she’d just gotten divorced and was unable to pay. It wasn’t a big deal, but anyway, I checked the mail last week and found a letter from her. Inside was a check for $500, which was my appraisal fee at the time. It was a wonderful surprise that knocked me off my feet, but I want to do something charitable with the money. I posted a message about it on Facebook, and someone added $100 to the amount. I’m adding another $400 as well, making the total $1,000, and I’d like to give the money to someone in need.
I have some ideas, but if you know someone who’s struggling right now and could use the extra funds, I’d love to hear from you. I’d also be happy to answer questions you may have about buying or selling in today’s market. I look forward to hearing from you soon.