Oh no! Interest rates have increased, but what’s this? Interest rate increases are good? The market is changing, yes, but not for the worst! Interest rates increased, but ever so slightly, and managed to gently bump some consumers out of their nests to start the homebuying process they put off for so long.
The market is changing, but market time is still low, prices have not skyrocketed, and buyers are still plentiful. This is still a great time to practice real estate, it’s still a great time to further a real estate career, and it’s still a great time to break all kinds of records for production.
Yes, the market is changing, but it is always changing. The real estate market seldom stalls out and stays the same. Those naysayers want you to believe the moment an interest rate change becomes effective; house sales will drop off. Not so! Interest rate changes can help spur the economy if done properly. These slight changes of a ¼% here and a ¼% there actually help sales. Speculators who had been on the fence finally jump off and into the pool of actual homebuyers. They want to get in on the action while the action is still good.
Real estate agents, lenders, trainers all resound that the market is changing. We must remember that change can be good! Change is not always bad! Our economy needed a little boost in the way of interest rates. I, for one, welcomed those increases. Maybe now some of us will begin earning interest on investments!
Whether you want to sell or buy, or if you want to begin a real estate career of your own, the time is NOW! We are still seeing an influx of sellers and buyers, as well as students who hope to get their real estate license. Things are not bad in our country right now, regardless of any spins the media may throw at us. Wall Street is still above 20,000. I remember the day it rose to over 10,000 and we all were shocked! It was in early spring of 1999. My real estate license was with a company, and I was with a law firm. I was practice part-time then and had no intention of ever going back into real estate full-time, which is an example of why we should never say never! Once the market hit 10,000, things began to happen and even then, the market was changing.
Don’t be afraid of the market. Whatever your real estate goals may be, now is the time to pursue them. Yes, the market is changing, but you must believe those changes are not going to have a negative effect on your life. It’s still a great time to buy or sell, and it’s still a great time to get a real estate license.