April showers bring May flowers.  Welcome to May!  We didn't have too many showers last month, although we did experience some turbulence in April, it seems maybe we've made it through...maybe?
The beginning of May is bringing with it an economic data dump this week.  On Tuesday we saw international trade figures, consumer confidence reporting and JOLTS (job openings).  Today we get the Q1 GDP reading, PCE (the Fed's favorite inflation gauge), and mortgage applications (I will be paying attention here as the past two weeks saw negative prints).  Tomorrow we will see unemployment claims, and the ISM manufacturing PMI.  Friday we get the big dog, non-farm payrolls.  On top of all that, the stock market has a major week of earnings calls.  All of these various points of data can move the markets in either direction, which can affect the 10yr treasury yield and mortgage rates.  I watch all of this every single week.

My listing in Stockton went into contract in less than 24 hours.  We received a very strong offer the same day we listed, not only over the asking price, but the buyer also waived their physical inspection contingency (not advised).  In this environment where mortgage rates are fluctuating, and volatility is in the air due to uncertain tariffs, and trade wars, there's absolutely no reason to risk the weekend and see if we get a better offer.  Could we do the open house over the weekend and see if more offers are submitted?  Yes, of course, but why?  The potential of a higher offer?  Sure, but will that higher offer also come with a waived contingency?  The waived contingency was really the kicker for me, and I made that clear to the seller.  A buyer offering more money but keeps the inspection contingency now has another avenue to back out of the deal, PLUS they could use the leverage of a higher priced offer to get some back in the form of repair credits after completing their inspections.  Too many variables that I was not interested in after such a strong first offer.  Take it and run, especially with two comparable homes within a 1/4 mile that have not sold in 100+ and 60+ days. 

What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com