What The Heck Is This Market? You Better
Trust Your Agent
I'm going to start and end this blog post with this thought.....if you don't trust your Realtor®, find a new one! Ok, that being said, let's go on.
This is an odd market. I can't remember a time when the news and information was so available, and conflicting. Buyers are hearing that it's a "buyer's market" and then being outbid on every offer. Sellers are hearing that there are "multiple offers on everything" and then sitting for weeks or months without a single offer. What is going on?
The truth is that EVERYTHING IS GOING ON.....ALL AT ONCE!
Home prices are still relatively low, interest rates are fluctuating moment by moment, and there are many people in the market buying and selling. It seems that the sporatic activity we've seen over the last 2 years in Orange County is suddenly resulting in panic offering. So when your agent tells you to bid higher than asking....do you? Do you trust your agent?
Sellers...why are you selling? Are you looking to use the accumulated equity to make a move? Ok, good! Then don't fire-sale your home. Will your home sell right now for a fair price? Maybe, maybe not. Are you willing to take a smaller profit on your current home to pay less on your future home? Maybe....the point? Talk to your agent and trust the advice. Resist the urge to get caught up in the fury, you are making a big decision and it's important to do it wisely and with thought.
The best advice I can give right now? Try not to be swayed by the media and the activity. Find an agent who isn't afraid to tell you a house is over-priced, under-priced or just a bad idea. As-is.....this is everywere! Is it a bargain to buy a house sliding down a hill? Of course not......trust your agent! Do your inspections....think this through.
Trust your agent, or find a new one!
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