Listening to a heated debate at my local Dunkin Donuts, one gentleman was arguing the market is heading up while the other was arguing of a coming crash. I sat sipping my coffee and was going over paperwork for a listing appointment this morning. Out of the corner of my ear, i was listening as they went back and forth.
One of the men looked over with a grin, he saw my Godzyk Real Estate Services folder and asked me to join them. I had a lot to say, but should i get into it?
After introductions, they both made their case as if I was a judge over seeing the room. Those around were all sitting up straight paying attention now. It was my time to shine. I wanted to keep my response short, but neutral but also to correct what was being said.
I let them know our market here in NH is still strong. We had been facing a sharp shortage of homes and unlimited buyers wanting to buy. The basic principal of supply and demand has made home values increase. That is no longer so. When interest rates ticked up in late spring, buyers who were waiting jumped into the market and most have already bought. The amount of homes for sale has increased slightly. While the media was arguing political propaganda, the interest rate fell below 4 again.
Those buyers entering the market today, will see a lower rate than a month or 2 ago. They are also finding a better choice of homes to look at. Rates though are subject to increase, and that could put speed bumps in our market. The good part of a free market, is a lack of new mortgage applications, bring that mortgage rate back down eventually.
Despite the fellas plea to be on his side, we are not heading for any type of crash. The conditions that lead to the 2007-8 crash are not what we are seeing. There are no banks pending running out of money and there is no giant batch of foreclosures waiting to flood the market.
Both men stared straight ahead digesting my economic lesson. One said I should be on TV and the other had lots of questions.
In what i could write a whole other blog over, questions ranged from N. Korea, to Trump, to riots and how all will affect the market. I will write about that in my Thursday blog. But i did tell them those who are ready to buy, can still find a good deal, can find their dream home and still get a low interest rate. For those looking to sell, they can get a quick sale at market value when listed right.
The lesson is that through feedback and market studies we can see what values and trends we are experience. This is why a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.