Are you missing out on a once in a lifetime Opportunity?

By
Real Estate Agent with Keller Williams Preferred Realty

Are you missing out on a once in a lifetime opportunity to Ride the Real Estate Opportunity?

Will you Ride this Real Estate Wave or wish you had?

 

Experienced Real Estate agents from all over are saying they have never seen a market like this. People are asking if this is a bubble that is going to burst soon. Investors are buying up properties like there's no tomorrow. What do Real Estate Agents and Investors know that the common people don't know?

 

Supply, Demand & Opportunity have caused a perfect storm in our current Real Estate Market.

 

Think about it. Here are some things we do know:

  • The recession wasn't very long ago and we kept hearing there would be pent up demand. And there has been. Millennial's didn't purchase as early in their lives as their predecessors. Gen Z who came after the Millennial generation, started purchasing right away. (Demand)
  • Although people who lost their homes started getting back on their feet quickly, not everyone jumped back into a purchase right away. The sting of the recession had some people holding off. Now they're buying. (Demand)
  • Builder starts slowed down. Builders and banks reentered the market with caution. Now some builders are saying they may be as far as 10 years behind. (Supply)
  • Interest Rates have been at an all time low. People want to take advantage of these rates. Some are putting less down because they can invest their funds elsewhere. (Opportunity)
  • Covid hit making the price of lumber, software chips, and other housing supplies surge. (Supply)
  • The pandemic has also made people re-evaluate where they want to live. (Demand)
  • People are working from home more than ever and can live where they want. (Opportunity)
  • The economy has been strong and people have the funds to buy. (Opportunity)

 

People are asking critical questions. We don't have a crystal ball and can only go on history, statistics, what we're experiencing and common sense.

 

Are we in a housing bubble? Most experts are saying no. Supply and Demand are too strong.

 

Will the market slow down? Probably at some point but that doesn't mean home prices will decline. They may just stop increasing so rapidly or level off.

Is this a good time to buy? With low interest rates and strong job growth people have never had more buying power. Because the interest rates are so low, you'll be putting more of your payment towards equity than interest. 

Should I wait until the market slows down to buy a home? Some people feel now is a risky time to buy a home. What they don't understand is one thing that may cause the market to slow down in higher interest rates. When that happens, buyers will have less buying power and less of their payment will go towards their equity. Now is a great time to build equity in a home.

Is it better to own than rent in this market? Statics show you build more wealth if you own a home. If you have job security and can qualify, it is very likely you'd be better off owning rather than renting. Talk to a Real Estate professional to see if it is a better situation for you. Instead of renting and paying your landlord's mortgage, you pay your own mortgage. The house payment (mortgage) you pay becomes equity that allows you to save for a better tomorrow.

 

How do I protect myself and my assets if the Real Estate market drops? If there is one lesson we've learned from the recession it is how to plan. There's never a fool proof way to protect your investments. You plan the best you can. Buy a house you can comfortably live in through any Real Estate wave. Because, there are always waves. If you have to move during a down time, consider whether it can be rented. Always have 6-12 months or more reserves saved just in case. 

What do I do if I'm upside down in my mortgage or behind on my mortgage? If at anytime you find yourself in a difficult situation. Don't wait and "Do Nothing"! Many Real Estate agents work with people upside down. We have resources such as working with the lender or bank to do a short sale or selling to an investor. In this market, you may even walk away with equity. Don't wait until your house is taken from you.

You have the power to choose to ride the Wave or sit it out. Just make sure you have all the facts to determine if you're missing out on an investment opportunity. There may be other factors to consider. As always, I recommend you speak to your local Real Estate Expert before making a decision. 

 

Posted by

Raleigh Cary Apex Realtor Carla Freund Realty

Presented by:

Carla Freund of Ask Realtor Carla

Carla Freund Realty Team

Keller Williams Preferred Realty

By Carla Freund Realty Team

Original Home of "Market In A Minute" Real Estate Report for Raleigh Cary CH & Durham Triangle

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Comments (5)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Great post, Carla... I have a number of clients who wouldn't mind taking this opportunity to sell... but with no inventory they have no where to go so they sit tight.

May 01, 2021 04:36 AM
Carla Freund

Nina, We're seeing a lot of lease backs. I'm getting ready to list a property requesting a lease back until their new house is finished. Not every buyer can do that but some can and will just to get the property.

May 02, 2021 05:06 AM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Carla,

I agree, no bubble.   Enjoy your weekend.  Bill Salvatore

May 01, 2021 04:59 AM
Carla Freund

Thank you Bill. You enjoy your weekend as well.

May 02, 2021 05:07 AM
Shayne Stone
Champion Real Estate Group - Missouri City, TX
"Your Rock Solid Choice Realtor"

Great information!  Thanks for sharing and have a wonderful day!

May 01, 2021 05:20 AM
Carla Freund

Thank you Shayne. Have a great weekend!

May 02, 2021 05:07 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Carla and great blog to sharewith us here in the Rain and also to buyers and sells.  I have people that want to sell but unless they are moving to another stay they have a hard time to afford a place here.

 

May 01, 2021 08:04 AM
Carla Freund

Yes, I understand. I imagine your prices have gone up. Some of our locals are in the same situation. 

May 02, 2021 05:08 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

It's a hard time for buyers, builders and remodeling.  Supply of houses and lumber to build houses is scarce

May 01, 2021 07:37 PM
Carla Freund

Hi Ed, Yes it is. It reminds me of the recession. Sellers couldn't get ahead of the declining market because it went lower every week. Now buyers need to take the plunge to get ahead of the rising market as it is going higher every week.

May 02, 2021 05:09 AM