The State of The Market in San Diego, CA and Beyond!

I attended Buffini & Company's Do It N.O.W. Brian Buffini LIVE - March 6
These are my notes from that event: 

This is the time when people get nervous, they start to anticipate the market, the mortgage rates, the economy,  the elections, and so on. We're in a unique position this year, given that we have survived and thrived under both candidates already...so the market conditions regardless of the election have some certainties: 

3 rate cuts are coming this year!

There is major pent up demand for buyers to buy and sellers to sell.

This is going to be a huge Spring and Fall selling season!

32% of all 2023 sales were 100% cash, rate means nothing to cash buyers

Many sellers are 1031-Exchanging their properties, rate means nothing to them since they are essentially all cash too.

The Market's going to change in 2024. The top 1,000 real estate industry prognosticators predicted rate cuts and here's when they feel they'll begin:

Here's an interesting prediction for 2024. We're going to flip historical trends this year due to rates and to some extent, the election. Buyers may want to wait for more inventory and lower rates, but sellers may want to jump on less competition.

Traditionally:

But Predicted For This Year:

 

It's Nuts!!!!

By the way the best way to work is by referral. There are literally 1,000's of agents wasting money buying leads and here's the big joke: they are buying the same "leads". So one poor lead may get 25 calls from 25 different agents. It's the biggest scam in real estate. The bigger scam is they are not even leads; they're inquiries. Why do I mention this? Because non-working by referral agents act transactionally because they're spending more than they make. Do you want a broke or desperate agent or a calm, seasoned and flush agent advising you?

 

All graphics and info I collected from Brian Buffini's Do It N.O.W. Brian Buffini LIVE - event.