We’ve watched the market for years. As REALTORS®, my husband and I were always aware of interest rates, inflationary times, sellers vs. buyers’ markets, and increases in value. We entered into ministry in 2006, so we were somewhat insulated against the difficult times that were to follow, although we suffered losses in real estate investments, as well as in our portfolios. We believe we are now living in some pretty amazing times. Put your theological beliefs aside, lay your political beliefs down for a few minutes, and let me tell you how a broker who has been around this rodeo for over 35 years sees things.
First licensed in 1983, I began my real estate career with double-digit interest rates. I didn’t know any better. I never saw single-digit rates, so I had no idea there could be such an animal. When interest rates dropped below 10% years later, I thought I had died and gone to real estate heaven! Those were some amazing times, but today is even more amazing!
Let’s be realistic. Interest rates will creep up. They have to. Should this deter someone from practicing real estate? Not in the least! It will take a long time to see double-digit interest rates and I doubt seriously that I will even be able to remember my name by the time our economy experiences them again, if, in fact, they ever do. The amazing times we live in are showing interest rates that are lower than the rates when my parents bought houses! Coming from my era, I wouldn’t flinch to see rates go to 8%.
The students who desire a real estate license are the ones who must be realistic. They know we’re living in amazing times, and even though they didn’t take advantage of the market last year and are just now getting licensed, they stand a good chance at making some phenomenal money in this marketplace. We’re seeing market time less than a day in some areas, we’re seeing multiple offers coming in on properties, and we’re seeing contracts being written over the listing price just to make sure the buyers can get their dream home.
TEAM Hughes Real Estate School is in the business of helping students get their real estate license so they can begin their real estate career. We are not going to stop doing that. We will continue to move forward and to help as many students as we possibly can. These amazing times will not last forever, and it’s the smart person who does not put off the opportunity of pursuing a dream. TEAM Hughes wants to help make that dream a reality, so just know that you can start and you can still achieve, and you can still have fun with it, and you can still make money at it. Let us know if we can help because it’s what we do, especially during these amazing times.