Welcome back to the latest BONUS episode of The Main Mike Podcast, you can stream the podcast on your favorite listening platform anywhere in the world. Adam Escoto and our host of the bi-weekly Monday episode: Kaleb Foster, sit down with The Essential Real Estate’s Broker: Don Fifer to talk market numbers and how the real estate market is shaping up.

Steady Wins the Market

The Main Mike Podcast opened November with a very timely and relevant discussion about the actual events of the local housing market. Hosts Adam and Kaleb were joined by Don Fifer, broker of The Essential Real Estate, to give not only the latest but also accurate information about Joplin's real estate trends. So, the conclusion? The market is doing well no record-breaking, no crashing  just a stable, steady, and somewhat surprising vibrant kind of market. Let’s dig in.

The New Normal

“Everyone loves to ask, ‘How’s the market?’” Don began. “And the truth is, it’s really good. We’re busy, homes are moving, and buyers are out there looking.” Although a lot of agents and homeowners still benchmark present figures against the pandemic boom, Fifer didn't hesitate to point out that the 2020-2022 period was rather unique. “You can’t compare right now to the pandemic. That was a once-in-a-lifetime situation. What we’re in now, this is what normal looks like.”

The term "normal" here doesn't imply that the market is slow. The guys acknowledged that even though the festive season is just around the corner, the market is still very lively after a short pause in October. “We had a little slowdown with the weird weather, but it’s picked right back up, there’s still a lot of buyers aggressively going after homes and sellers who need to move.” The episode was, for real estate professionals, a wake-up call that success in the market is more a matter of one's mentality and personal input. As Adam put it, “Even when it’s slow, you can create work for yourself. You’re only bored in this business if you’re not trying.” Don added, “There are niches that are always busy. If you figure out how to stay busy, the market’s always good.”

One of the major points raised during the conversation was the notion of viewpoint. Fifer illustrated that if one takes out the pandemic-induced spike from the figures and looks at the last ten years, the present market is quite in line. “If an alien landed here and looked at our numbers without knowing about COVID, they’d say this is a normal market,” he said. Supply, appreciation, and days on market are all back at the levels that correspond to the years before the pandemic.

Rates, Rates, Rates

The episode also discussed interest rates, a topic that is still at the center of real estate. Don didn't deny the fact that rates were higher in 2021, but emphasized that they are still very low from a historical perspective. “People say they want rates to go back to one or two percent,” he joked. “Well, you’ll be waiting a lifetime. Those rates weren’t sustainable for the economy.”

In fact, he said that whenever there is a small change in rates, there is also the price change that cancels out any real savings. “When rates go down, prices go up, and usually by more than what that one percent would save you,” he explained.

For buyers intending to move, it’s important to take that first step on your real estate journey then waiting for a perfect time that may never come. “They always say the best time to plant a tree was thirty years ago. The second-best time is today. That applies to real estate too.”

Bottom Line

The episode's point was unmistakable: The market for residential Joplin is in good shape, very dynamic, and offers a lot of openings for those willing to work. “Real estate isn’t a sales business,” Fifer concluded. “It’s problem-solving and helping people.”

Whether you are a first time home buyer, looking to invest or just seeking advice about the real estate market. Feel free to reach out to one of our agents at 417.540.5799 or click HERE to get in touch.