One of the busiest “handles” on Reddit is #WallStreetBets. It is the “chat room”, if you will, behind all the busy “retail” investing on Wall Street these days. It started me thinking, and it lead me to this piece.
Is the cheering we do as Realtors for the #MainStreetBets any different than the cheering done on Reddit on behalf of #WallStreetbets? This is a very curious notion.
Realtors spend #Millions to obtain a relatively small audience of followers. On the other hand, #WallStreetBets spends nothing, and it has millions and millions of followers.
It seems there is a disconnect here. A stock investment is typically a few hundred or a few thousand dollars at a time, but adding up to something substantial over time. While the purchase of a home can be the largest investment an individual or couple ever make. Plus, that home purchase is done “on margin” most of the time. Why are home buyers willing to risk it all, while securities investors take relatively little risk and consult with millions along the way? Because you can’t sleep in a stock portfolio…
In Denver’s Residential Real Estate Market, decisions have to be made in seconds, minutes or hours. There is seldom time anymore in our market for that “Let me sleep on it” notion. Someone else has already slept on it, and they have already submitted their offer. Funny how it all works.
Let’s take a look at the last 7 days of Denver’s MLS Data.
|New Listing (760) Once again, we are not seeing enough inventory.|
|Coming Soon (200)|
|Back On Market (165)|
|Price Increase (279)|
|Price Decrease (220)|
|Pending (1586) This is an average mid-season number, but it would be higher with more available inventory!|
|Closed (1337) This is a relatively similar number to weeks gone by. If there were more inventory, we would be seeing more closings.|
With all this said, are you #Bullish or #Bearish? If you don’t have an answer, you need to take an hour, pick up the phone and chat with Dee and myself. Get comfortable with this market, build a plan and exercise a strategy for success. There are a lot of potential buyers not succeeding because they have skipped this step. I’ve been quoted over and over again, “Zillow will break your heart”, and it will.
On your trip down #MainStreetBets, take it safe. Let us help you build a plan. Be secure with your investment. TheCryerTeam@Kentwood.com