What's The Buyer's Market Like?

yeah totally but you know it's a comfortable car so it is it is but you know a lot has changed for buyers um since you know the frenzy of 2020 2022 i know you weren't doing this then you were just a wee baby back then just a young warthog just a wee baby But I remember the days of things hitting the market and we would go immediately and they would be in multiple offers within an hour.

And they would sell for way over asking price.

The buyers had $100,000, $200,000 to put in on appraisal gaps.

They were waiving inspections.

They were giving the sellers three months to move after they closed.

It was truly, for a buyer's agent, it was a nightmare.

But for a marketplace, it was intriguing.

And it reflects back to what we did in the last episode, the seller's market piece.

Now we're starting to see that reflection of what happens in the seller markets.

We can say right now that this market's totally different from them.

Oh,

God, it's so different.

And again, like you said, I don't have any experience in that hot, hot, hot seller's market because right now we are basically the exact opposite in Nashville.

It is a hot, hot, hot buyer's market.

If you're a buyer right now in Nashville, you've got more options than you've had in a very long time.

There are...

so many people that are just bending over backwards to get you to buy their home, especially new home construction.

We talked about that a little bit as well.

There's a lot more time for you to make decisions, too, because homes are just sitting for a while, and it's not fun as a seller, but it's great for you as a buyer.

We have got a property that has been getting a lot of uptick in activity lately.

Yeah.

crazy and you know it's at you know we first hit the market it was insanely busy and then we hit this low when interest rates started going off the rails and we'll talk about that in a second but over the past two weeks there's just been an uptick and I was texting you the other day I was like I want your honest opinion why I mean why do you think it started up ticking

My response was, I think it's rate anxiety.

The current economic conditions, we look at macroeconomics, there's just a lot of uncertainty.

There's a lot of instability, especially when you look at things like oil prices, when you look at things like the bond market right now.