Now might just be the time to (insert)…. “Sell” or “Buy”
In life, business and politics…. balance is important. In our real estate market, a lot of folks have exclaimed to me “What a great market it must be?!” Homes are selling like hotcakes and in days! Prices are going up and multiple offers!
Volatility comes from imbalance and chaos. Whether you are in real estate, stocks, pork bellies, currency exchange, crypto currencies or lumber futures…. an imbalance yields the same result… chaos!
Recently our buyers have become frustrated with the lack of a real market. After failed offers, a number have begun to feel the timing is off. They are pulling back. They don’t want to be the high buyer in a market or a neighborhood. They hype is bugging them. For us that often means alost year of effort.
Our sellers have high expectations but are beginning to worry about buying back in. They don’t want to list until they know where they are going. Makes sense. I want to sell high and buy low!
If any of this doesn’t sound familiar to you… then you missed 2006 and 2007!
Let’s just add in the elephant in the room. Loans! Appraisers are having trouble keeping up. Loans are available 3% down to qualified buyers. VA loans are 0% down. Condo’s 5% down. FHA 3.5% down.
Media reports results not direction so don’t look there.
One very worried guy does not want to know the annual cycle of recessions in the world. Please don’t post those…. haha