Podcast - 2/23/24

🏠📈 Houses Are Still Selling Fast! 🏠📈

Thinking of selling your house? Here's some good news! While the housing market isn't as frenzied as it was during the 'unicorn' years, homes are still selling faster than normal.

📊 The graph below shows median days on the market for every January from 2017 to the latest data available. Homes are selling faster than usual, with the most recent data indicating a shorter time on the market compared to previous years.

What Does This Mean for You?
With demand increasing and mortgage rates down, your house may sell quickly too! Now could be an excellent time to list your home and take advantage of the strong housing market.

🏡 House of the Week 🏡
📍 25 Breeze Hill Ln Martinsburg, WV 25405
💰 $250,000
🛏️ 3 bedrooms & 1.5 baths on main level
🚗 Detached garage
🔥 Wood-burning fireplace
🌳 Large fenced yard
🏡 Partially finished basement with second kitchen, bedroom, and full bathroom

This charming rancher is perfect as a starter home and offers a prime location close to Route 81. Don't miss out – schedule a viewing today! #HouseoftheWeek #MartinsburgWV #RealEstate 🌟

Tom Whalen:

I'm Tom.

Jay Day:

I'm Jay.

Tom Whalen:

of Jay Day and the Day Home Team at LPT Realty with our weekly real estate podcast. Jay, things have been so volatile and so crazy. Let's say somebody, we're going to sell our home. How long is it going to take to sell a home these days?

Jay Day:

Well, honestly, we've been back into a sort of chaotic mode again. Two weeks ago, we had a property over in Boyd's that, and we do a crazy ramp up pre-marketing and open house process that we started. And to give you an idea, so the one we had in Boyd's, we only had an open house on Saturday. It was only for two hours. You may have seen it on Facebook because Christina posted a picture of the cars that were lined up.

Tom Whalen:

I saw that, yes. Saw that Saturday morning. Yeah, you guys were backed up there.

Jay Day:

Yeah. So we had over 30 unique groups of people that came through and that two hour timeframe that turned into eight offers. And I can't give the details on the offers, but let's just say that the seller was extremely happy,

Tom Whalen:

Wow. Nice.

Jay Day:

With what happened. So things did slow down a little bit. They've picked back up. When I'm looking at it and we talk about, so what's happened so far this year, and even if we go back in time, I found a really neat chart that sort of gives an idea of median days on market in January, because we can't give the numbers for February. It's not over yet. But when we go to January and we look back, they pulled data as far back as 2017. The median days on market back in 2017, in the month of January was 88. 2018, it was 83. 2019, it was 81. 2020, it was 82. And then our odd years, our covid slash unicorn years, 2021 was 66. 2022 was 59. 2023 spiked up to 72. And then this January it was 69. And again, when I give you the median days off of this chart, this is not local, this is nationwide.

Tom Whalen:

I see. Yes.

Jay Day:

But only three days more than we were in 2021. And definitely better than we were in January of 2023. So if you're a seller, if you're price it right and you have an agent that does the marketing that needs to be done, these homes have been selling very quickly. Most of our listings in Maryland, Pennsylvania, West Virginia, Virginia, have been selling in less than a week. But we don't take our foot off the pedal. We are still doing massive amounts of marketing. Like I said, this open house thing that we started, we started it first quarter last year and we were not huge proponents of the open house because we, they're not all going to be super successful, but we have a detailed program that we roll out that involves us visiting the neighbors, calling the neighbors. I mean, we have a detailed process.

Tom Whalen:

If you're calling the neighbors of the home, there's somebody selling a house.

Jay Day:

Yes.

Tom Whalen:

You go check around the neighborhood to get the vibe.

Jay Day:

Well, the reason, so we give them an invite, and if you think about this, how many times you have friends over and they're like, oh man, I love to be close to you. I'd love to be,

Tom Whalen:

I see where you're going with this.

Jay Day:

So we try, it's a spin of you could possibly pick your neighbors if you have somebody that's been looking. And again, with the low inventory too, there is a very limited amount of homes available. So it's worked out extremely well. We've gotten a lot of foot traffic, and it's a win-win because the neighbors now have a heads up on what's going on. They're able to, if they have friends or family that want to be in the area, they give them the information and then the seller's happy because they have a ton of people through. And then they can make a decision with multiple offers of who they want to work with.

Tom Whalen:

Have you ever seen that come to fruition, Jay, where somebody said, I got a friend who might want to move in here, and then they will, a family or friend will buy that house?

Jay Day:

Oh, absolutely.

Tom Whalen:

Wow. That's a great idea.

Jay Day:

Yeah, and I mean, it's not so crazy out of the box, but the thing is, in today's world, people have used technology and forget about that personal touch and our agents, it's funny because sometimes in some neighborhoods, people don't answer the doors or they don't answer the phone. And others, they're so surprised. They're like, I didn't know that realtors actually came out and talked to people that aren't trying to sell their home. At first they were,

Tom Whalen:

I can understand. Yes.

Jay Day:

And then they're like, wow, that's really cool. And again, it just shows our job is to do everything and use every facet that we possibly can to get our clients the best deal possible when selling their home. I mean, and Tom, on the buying side, I'll give you a different side of this coin. Our buyer agents, let's say that you have a buyer who wants to be, and I'll just make up an, let's say they want to be in Spring Ridge. Our buyer agents will then go out, we have door tags. They will go out, knock on the doors, talk to people on the opposite side and say, Hey, I have a buyer that's approved for this amount of money. They want to be in this neighborhood. Are you considering selling or have you heard of any of your neighbors? Anybody in here thinking they're going to sell because we could have the buyer for you already lined up, ready to roll pre-approved. They want to be in this neighborhood and your house checks all their boxes.

Tom Whalen:

Wow. And so do you get some reaction from that?

Jay Day:

Oh, we have.

Tom Whalen:

No kidding.

Jay Day:

We've been able to get properties for our clients that are off market. So you can't just sit back and let the market do what the market does. You have to go out there, go above and beyond, and make sure you're doing everything you possibly can for your client, whether it's our buyer clients or our seller clients. Again, we're not afraid to hit the road, put our feet on the road, walk the walk and knock on doors and meet with people face to face.

Tom Whalen:

And make the market, make the market itself. That's incredible. Don't let it come to you. Go get it.

Jay Day:

That's it, buddy. Go get it. You got to have that attitude, especially there are people that are like, I am not buying anywhere except this neighborhood. And what are you going to say? Sit back and, well, I'll let you know when something becomes available. Everybody could do that.

Tom Whalen:

Sure. Absolutely.

Jay Day:

And we talk about our experience working with us should be totally different than what you've had with anyone else, and you should feel ecstatic about what we've done to try to get things and get you into the position and the place that makes the most sense for you. So, alright, I'll get off my soapbox now.

Tom Whalen:

No, man, that was awesome. That's amazing. Honestly, that's why we've done this now over 10 years, Jay. And I always say 866-702-9038 because I don't know all these things. I've been listening to you forever and ever and ever. And I know how complicated this is.

Jay Day:

Well, I'll tell you, I actually had one property specifically that was not on the market. This is a little bit of a funny story. I had a buyer who fell in love with this house. They drove by it every day. And I was like, well, I'll just go ask 'em if they're interested in selling it. So this long driveway, I go up, I ring the doorbell, the guy comes out with a shotgun, and I'm like, I'm just a real estate agent. I was like, this is going to sound really weird. And I said, here's my card.

Tom Whalen:

Most guys will go get the shotgun at that point, but go ahead.

Jay Day:

Yeah. I said, I actually have a client that goes to work every day and drives by your home. And they're constantly talking about it. And I told them that if they really love the house, I didn't want them to have any regrets, so I would just stop by to see if you would consider selling. They had no interest in selling, but I ended up having a really good conversation and the guy was like, I haven't had anybody come to my door. He's like, you had to drive that driveway. And he's like, and I know if somebody's coming up that driveway, they're coming to my house and if I don't recognize that car, he was like, I apologize, I had the shotgun out. He goes, but I know you're not coming down this driveway to do anything except to be here.

Tom Whalen:

He must've been flattered in a way though, that somebody loved that house so much.

Jay Day:

Oh yeah. He was like, this was a custom build. It was an all brick, it was a beautiful home.

Tom Whalen:

Sure, okay.

Jay Day:

But again, you don't know if you don't ask, right?

Tom Whalen:

Yes, absolutely. So got a home of the week.

Jay Day:

I do, buddy. 25 Breeze Hill Lane in Martinsburg, West Virginia. This one's hitting the market for 250. It is a rancher style home. It's a perfect starter home. It's close to Route 81 has a detached garage. The main level of the home is three bedrooms, one and a half baths, a large family room. The living room on the main level also has a woodburning fireplace. There's an eat in kitchen, a deck off the back, and then a large fenced yard. There's also, the basement is partially finished, and when I say partially finished, I don't mean some of the rooms. I mean truly partially finished. There's a second kitchen, has a drywall in, does not have the ceiling in, has a bedroom down there and an additional full bathroom and a huge storage area. This would be a great starter home for someone or someone that wants to get some sweat equity. It does need a little bit of work. However, 250,000 Martinsburg detached home, almost a half acre lot, fenced, ready to roll and a detached garage as well. If you want to check out this photo, I mean this home, check out the photos on wfre.com. Look up Tom and Jay's real estate podcast. If you like what you see, click schedule a showing and we'll get you in to see it.

Tom Whalen:

I'm Tom.

Jay Day:

I'm Jay.

Tom Whalen:

Jay Day and the Day Home Team at LPT Realty. Thanks for listening to our podcast. Tell your friends all about it.

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