What do LIFO and FIFO Accounting Terms have to do with Real Estate? Nothing. I was just thinking about them while vacuuming this morning. Something I learned in Accounting Class at Va Tech several decades ago seeped into my early morning vacuum chore. I was thinking about the Last in First out concept. Or the First in First Out Concept. I remember the inventory terms.
What is interesting is that sometimes your first listing in goes for sale first. But sometimes your last or most recent listing is the one that is popping like popcorn. You just never know. But it is not in listing order. It has to do with the best condition for the best price in an area. It has to do with winning the price war and winning the beauty contest in that location for that type home.
So when LIFO hits your inventory, or last in is first to sell or first off the inventory shelf, go hip hip hooray. It just goes that way sometimes.
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