Yes, interest rates are going up; and there’s an upside to that, prices will come down accordingly but that is not the gist today. I don’t understand when consumers, and we are all consumers; say that it’s not a good time to buy. It’s always a good time to buy; you just have to buy smart. Skeptics will say I’m propagandizing because I’m a real estate agent. “Real estate agents only make money if they sell houses”. So, in turn they always have an optimistic spin to a dismal forecast.
For the most part that’s true, primarily because most buyers’ agents are one-dimensional thinkers with little fiduciary responsibility to the buyer. I liked the old days, when there was just seller agency, face it, the seller pays the commission. Call a spade a spade.
The real estate market is changing again, as it does and will continue to do so. I was taught to see it as circular like a clock; not up or down like a ladder. As a matter of fact I teach a clinic called, the right time to buy emphasizing how it is always a good market; it just depends on what is the right time for you. Typically, sellers like to sell when demand is low; they keep more money. Buyers like to buy when there is a lot of inventory and prices are better; they keep more money. Here’s a hypothesis to shoot that theory all to H –E double hockey sticks. If you can’t find what you are looking for at Nordstrom, go to the Rack, they carry the same stuff!
We as consumers’ only see the premium priced cereal; you know the stuff on the shelf that’s at eye level. Have you ever taken a look at the cereal on the bottom shelf? Not only is it more affordable, in most cases is pretty darn tasty too. So why doesn’t the real estate community put the hay down where the goats can get it? I personally think it’s because most real estate agents deem they hold the primordial secret to successful real estate transactions; or maybe it takes more ingenuity than the typical house hostess can muster to negotiate outside of the box. Regardless of the explanation, there are countless opportunities for buyers with good credit and low income and buyers with poor credit and high income.
The real estate market is changing again, as it does and will continue to do so. I was taught to see it as circular like a clock; not up or down like a ladder. As a matter of fact I teach a clinic called, the right time to buy emphasizing how it is always a good market; it just depends on what is the right time for you. Typically, sellers like to sell when demand is low; they keep more money. Buyers like to buy when there is a lot of inventory and prices are better; they keep more money. Here’s a hypothesis to shoot that theory all to H –E double hockey sticks. If you can’t find what you are looking for at Nordstrom, go to the Rack, they carry the same stuff!
We as consumers’ only see the premium priced cereal; you know the stuff on the shelf that’s at eye level. Have you ever taken a look at the cereal on the bottom shelf? Not only is it more affordable, in most cases is pretty darn tasty too. So why doesn’t the real estate community put the hay down where the goats can get it? I personally think it’s because most real estate agents deem they hold the primordial secret to successful real estate transactions; or maybe it takes more ingenuity than the typical house hostess can muster to negotiate outside of the box. Regardless of the explanation, there are countless opportunities for buyers with good credit and low income and buyers with poor credit and high income.
Which brings us back to why someone would rent and not buy the home they are living in. Of course there are reasons for short-term rentals, but I can think of few other legitimate reasons to just renting. Rationalizing that renting is cheaper than purchasing is just that, rational lies. Renters are purchasing, they’re just purchasing for someone else. The key is to purchase wisely. As we are approaching one of the largest foreclosure waves in history, I can’t think of a better time for creative financing opportunities. It makes me crazy when I hear someone say they can’t afford to buy. I say you can’t afford not to buy.
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