10/20/2022
🤔Is the market crashing or is there hope?
Here's the thing, I'm going to dive into exactly why you do not need to worry and I'm going to give you some fun information, so that you can take it to the bank at the end of the day.
Is the market crashing?
Well, first off, no, the market is not crashing.
📈The real estate market is going to do just fine.
Why?
Well, if we take a look at not only rates, as well as home availability and several other factors, we are nowhere near what happened in 2008.
Now, here's a cool thing to learn. When we had recessions in the past, in the last several years, because there have been several recessions, they just haven't been big and blown up, during those recessions, in almost all of them, the housing market went up, not down.
💰In fact, one of the biggest drops was in 2008, but it's because it was caused by lending.
That's right, the lending practices that were being used are what caused the '08 crash.
Too Big to Fail, check out the movie, well worth the watch.
So why can you take this to the bank? What's going on in the next year that's going to help you in your financial future?
🏡One, the values of homes are going to go up for 5% to 10%, at least in the Charlotte and surrounding areas over the next 12 months. That's a big number.
Two, your rent, if you're renting right now, you're paying 100% in interest. So you might want to rethink that. Three, rates are constantly changing.
As we've seen over the last 12 months to even the last 24 to 48 months, the actual rates change constantly.
So are you wanting to date the rate or marry the rate? Date the rate, marry the house.
🤷♀️What does that mean? Get the house. Get the equity.
Get out what you want from a home while living there and get the tax write offs and tax deductions on two-thirds of your mortgage payments, can't do that while renting, while also going ahead and refinancing when the rates drop.
Refinancing is okay and you can do it quickly.
You don't have to wait years and years to refinance. And you can refinance more than once in a year.
🏦So what can you take to the bank? Go out and find a house. Go out and sell your house.
It is still an incredible time to do it. There are less buyers on the market, but there's also slightly less homes, which means as a seller, there's less competition.
As a buyer, there's also less competition.
Would you rather be putting $50,000 cash down on a property or have an honest negotiation where both parties are excited?
💸If you're interested in buying or selling, of course give me a shout.
Kaila Lindsey with The Trulane Group and I look forward to seeing you around town.
Kaila Lindsey,
📞704-559-9169
Thank you so much and I'll talk to you here soon.
