I read an article that called the current real estate market “hysterical.” That sounded a little hysterical. I often tell people that in business, you can’t meet emotion with emotion. But first, what did the commentator mean by a hysterical real estate market?

Hysteria is a response to uncertainty, and we’ve had a year – closer to 18 months now – full of uncertainty. In the real estate market, that has meant a flood of offers each time a reasonably priced home hits the market. Lately, it has meant offers of thousands above the listing price. And most of all, it has meant cash deals. Throughout 2020 and 2021, buyers have been turning up their noses at any type of contingency – a buyer’s own home sale, a mortgage application, a credit rating check. What we’re seeing around the country is that sellers want that offer signed within a week.

In an unreal time, the only thing that has seemed real in real estate is cash – and a buyer that comes in with no strings. A seller may even accept a cash offer that’s lower than an offer that comes with contingencies.

Lightspeed Lending clears away uncertainty by processing loans in a fraction of the time of conventional loans. Remember when I said that sellers want offer letters signed within a week? Lightspeed Lending actually achieves closings in 7 to 10 business days. That’s music to the ears of a seller who craves certainty.