Leading Indicator or Lagging Indicator?
Is the ability or inability to get a building inspector a leading or lagging indicator of the real estate market? I’m not sure. In the beginning of June when, interest rates went up a full point in a 10 day period, I was not surprised when I began to get more showings for my listings, and apprehensive buyers were beginning to make offers, but nothing prepared me for the shock of trying to get a building inspector at the last minute.
I had just sold a great house down at Compo beach for $1million dollar less than its original asking price and was quite excited for my buyer for her to be getting such an amazing well built house at a really fair price. I had recommended the same building inspector who had inspected the last few sales I had, and we were set for a Saturday inspection — definitely the most popular day for inspectors. I was happy my buyer did not have to take any time off from work. When I got a call late Thursday night telling me that the inspector was in the hospital and would not be available, I didn’t panic (even though contracts had to be signed by Monday). I just figured I’d make a couple of calls in the morning and get someone else. I started at 7:30 am and could not get one till I made over 25 calls to inspectors. John Oppenheimer, one inspector who was recommended by different 3 people, is busy for the next 2 weeks!! So is the market picking up? You tell me!!!




