Nasty Winter weather sure can paralyze a city.
Some cities are better equipped to handle large volumes of snow and ice than others, but even the most experienced cities can get overwhelmed and “snowed in.”
So . . . When mobility is out of the question, does the real estate market FREEZE until everyone can get their cars out of their garages?
Here in Nashville, we are on the tail end of a “Winter Weather Event” #snowmageddon that quite literally shut down any possibility of “normal” business for us REALTORS. Our fair city received a beautiful 1″ thick coat of ICE followed by 10 days of lower than usual temperatures. Many roads were impassable a full week after the initial icefall. Public schools were closed for almost 2 weeks.
Needless to say, there weren’t many house showings during that period of time . . . very few new listings . . . All was eerily quiet. The only business that was being done was “Contract to close” coordination.
Those closings are happening now, and REALTORS are finally getting out there Listing and Showing houses.
There are some pundits out there with doom and gloom in their messages: “The market had GREAT momentum until the weather went bad . . . now the momentum is GONE.”
I’m not a believer. After all, February is generally a fairly low volume month for most markets. Pre–ice storm market conditions were far better than any year in recent History. Some folks say this storm will affect March closings . . . I’m not so sure about that because my little firm Pareto Realty already has more houses under contract to close in March than any other year in our company’s existence (Founded in 2010) – because we know that we don’t have to be driving around to generate leads nor does the weather have to be pleasant. All we need is the ability to communicate with our sphere of influence.
This brings to mind a graph I saw a politician use in a recent presentation. He was singing doom and gloom about the fact that the number of new electric meters in the county was clipping along at a very respectable increase every year for a 10 year period . . . and then SUDDENLY in the 2008/09 time frame, that increase went FLAT.
His interpretation was that this was due to the poor performance of the schools and other “community issues” like traffic . . .
Interestingly, the chart ended in 2013 and failed to include 2014 to present.
What happened in 08/09? . . . Yep! a National scale DEPRESSION was under way, and virtually every builder in the country ceased building residential units (Houses and Condos).
No new electric meters – INSTANT flatline.
My suspicion is that if that chart were to include the past 18 months, it would show a very pronounced SPIKE UP because New construction is back with rigor.
This is a classic case of interpreting the symptoms to fit a diagnosis that supports a completely unrelated purpose.
All these words just to say:
2 Weeks of snow and ice will NOT kill the Real estate market – It won’t dampen the momentum – and it won’t even show up as a statistical blip even a year from now.
NOW is the time to take action and get back to work.
Pick up EXACTLY where you were 2 weeks ago and do what you know you need to do . . . Lead generate!
If you are a home owner thinking about selling your house “in the Spring,” WHAT?
Why would you want to wait for the spring when you would be entering the market with the herd of other “waiters?”
List your house NOW, and you’ll be NOTICED!
Are you READY?
Connect with me NOW 🙂