I thought it would never end.
I like football season as much as the next agnostic, but this one seemed to last longer than usual. I suppose– tucked away up here in the far corner of civilization, our precious southern exposure partially blocked by the Space Needle—it kinda did.
But now that football’s finally over, we can get back to what’s really important in this life. We can stop thinking & talking twenty hours a day about overfed overpaid muscleheaded testosterone-addicted gladiatorchild maiming machines, and calmly return to the one thing we’re really all put on this earth to worship in the first place:
Or, if the din is still echoing, and if it’s too soon to think about trading one teal idol for another—if you need some time away from the winning games—I offer you:
A Hamster once suggested to me that people in this town “follow real estate like a sport.” Of course, that was in 2006 when we still had a winning team. There hasn’t been much to cheer about these past several years, but I am blogging you right now that this moment in history—this coming season—might just be looked back on as the greatest comeback in American history.
Because real estate has a season, just like anything. Unlike football, it starts in the spring. As we know, “spring” is a concept of some elasticity here in the PNW, and many years its arrival seems quite late. You can’t really set your watch by it, let alone start packing for a move. But regardless of the actual weather, the spring of 2014 will arrive early. After all, spring is about more than just the raw promise of mild weather or good starting pitching. Spring is about earnest money.
Buyers in this market have earnest money burning holes in their collective pockets. They know the cost of a mortgage is not getting any cheaper. Interest rates can’t not rise. But still—even if rates were to increase by a whole point—or even two whole points—is sub-7% money the end of the world? When rates dropped into the mid-6’s in 2002 we did backflips all the way to the bank to refinance (again) never dreaming money could get any cheaper. Of course it did. And it did. Still– as much as we’ve been saying for years that this can’t last forever this can’t last forever.
But it’s not just the cost of the money. It’s also the cost of the stuff.
Buyers aren’t the only ones who’ll be looking for dance partners now that Super Bowl XLVIII is history. Lots of sellers will deem the gettin’ good enough almost immediately, ecstatic to be climbing out from under something they thought just might bury them only two short years ago. The plague was a fair one– we all got our butts kicked a little bit starting in the spring of 2007. But by now not only has the bleeding stopped, but we are starting to get a little color back in the cheeks. Wise sellers have made the proper in-game adjustments and are moving the ball. It’s not exactly a tie game yet—we’re not back to our pre-downturn values, and it’s probably still a two-possession game. But 2014 is going to see considerable increases in both volume and prices. At that point, the market is truly up for grabs…
So play ball. Get onsides and make a goddamned touchdown. Spike the ball and do a totally ridiculous same-sex dance with your masculine teammates in the endzone. Go bananas. Get it out of your fool system, because after that it’s time to get back to work.
(blogger’s note: Who won the game, anyway? I fell asleep and can’t find the score anywhere…)