A couple of weeks ago we took a quick jaunt into Los Angeles, California to catch a live Dodger’s game. With a free day after the last game, we figured it was our duty–as responsible grandparents, of course–to scout out any new developments at the world-famous Disneyland… purely for research purposes before bringing the grandbaby. Sadly, our top-secret mission to investigate the kiddie-ride zone was foiled–too many distractions (like snacks and adult-sized rides). But don’t worry, we heroically revisited some of our old favorites… all in the name of serious grandparental research, obviously.

Besides the coasters, I have always been a big fan of the Haunted Mansion; this time, however, instead of being met by the Ghost Host, we were met by Sandy Claws. The surreal looking, often confused and annoyed, cartoonish creature blend between Halloween and Christmas, neither of which holiday we were currently celebrating. Either way, it was a surprise, and not of the pleasant variety.

However, it did remind me of our current local real estate market. Take interest rates for example: this is the Ghost Host (or in this case, the Sandy Claws) of the market. Interest rates continue to hover like the mansion’s ghostly narrator. After a few spooky climbs in the past few couple of years, buyers and sellers have been watching for signs of relief. But alas, there is not much relief to be had. Each time the ride turns a corner, there is another creepy, freaky character thrown into the mix, doing absolutely nothing to ease our nerves or signal that the ride is anywhere close to ending.

Ride through the corridors of the Wasatch Front neighborhoods and you may notice the same thing you see in our surreal, hypnogogic ride–doors everywhere, yet only a handful are open, leaving the rest to taunt you with their locked doors and unsettling silence–each one practically whispering something awful waits inside. Sadly, you’ll never know… which is probably for the best–but still, a little disappointing. Inventory may be up, but prices are still living in a fantasy land. Meanwhile, buyers trudge from one overpriced listing to the next, armed with nothing but optimism and denial–silently wondering how many kidneys they would need to auction off to afford the monthly payment.

But alas, armed with a good guide to the ride that can give you a little heads up as what to expect from the new Tim Burton-esque ride into the unknown, there is hope. For buyers, patience, persistence and pre-approval are your proverbial FastPass. Small shifts in interest rates have not gone unnoticed. Negotiating power is near an all-time high–assuming you can find a door that isn’t welded shut with false hope, seller delusion, or the lingering scent of 2020’s market frenzy.

Sellers too are in a relatively strong position, especially if the home is priced right, clean and nicely staged. This is rare glimpse into the classic Haunted Mansion ride, the one with hitchhiking ghosts, the shadows dance with themselves and the ghosts carry stories older than cobwebs. Everyone will notice.

For both buyers and sellers, don’t be surprised by sudden shifts. Just like the classic Mansion’s changing portraits, the market can transform quickly. Either way, the ride does come to an end; and as it does, you must exit directly through the gift shop. Having just experienced an eerie, unpredictable, and somewhat frustrating ride. The gift shop is like the final arrival to offer accepted–where buyers and sellers step off the whirlwind ride, a little dizzy but hopeful. It’s the moment when dreams begin to feel real, wrapped up not just in contracts and fine print, but in the promise of new beginnings.

While the gothic fevered dream of cluttered collision between Halloween spookiness and forced holiday cheer that was formerly the classic Haunted Mansion at Disneyland will eventually come to an end and revert back to the ride we all know and love, the current real estate market, with all its new twists, turns, and jump scares, is likely here to stay for some time, so buckle-up, hold on tight, and you may as well have fun.

Jen Fischer is an associate broker and Realtor. She can be reached at 801-645-2134 or jen@jen-fischer.com.