06/08/2022
Not mine, but great post.
If the speed limit is 65 and you’re going 135 🏎, it’s insane. You see a cop 👮♂️ ahead and immediately take your foot off the gas, passing the cop at 97.
Lights come on 🚨, and you pull over.
Cop asks if you know why you got pulled over and you decide to be honest 😇.
“Officer, I apologize, I was going extremely fast 💨 . I was the only car on the road, this is a limited edition sports car, and I just kept going faster and faster. There was nothing to keep me from going fast. I saw you, well ahead, and I attempted to slow down, safely. I wasn’t out of control, I knew what I was doing, and feel your leniency would be fair.”
The cop thinks about your story, and appreciates your honesty. He goes to his patrol car 🚔, runs your plates and your license, and comes back with a citation.
“I appreciate your honesty. You do have a great car. You did have no one else on the road, and you clearly know how to drive. Im going to write you up for going 97 in a 65. You may not have been going 135 when I saw you, but 97 is still extreme speeding ⚠️.”
People, This is the housing market 🏡 in 2022. You were the only home on the market for a while so you were able to do things that are not normal. The market may have slowed a bit, but it’s still hot 🔥 . Is it white hot (135 mph)? No. But is it still very hot (97 in a 65 zone)? Yes. There is more traffic on the road (inventory / interest rates / etc), but the market is still moving like crazy.
Don’t let the negative news fool you. Don’t let big % numbers 📉 sound scary. We look at the real numbers, constantly. People will tell you that inventory levels are up 30% since the beginning of the year. This is true. In Contra Costa County, we are sitting with 1.3 months of inventory instead of 1 month. Is this a 30% increase? Yes! Is it still remarkably low? YES!
Sales volume is currently flat to slightly lower. Prices have been rising. Will this stay the same forever? No. We may go from White Hot (135) to Very Hot (97) to just Hot (85), but it’s still fast and still strong. Are you going to make 20+% on a purchase this year and every year? No. But that should NEVER be your plan. Real Estate is not for day trading. Never was supposed to be. Real Estate is a great investment that is a good Inflation hedge and performs well, even during Recession.
Focus on YOU, not the news 🗞 . What are your needs? What are your goals? If you’re adding to your portfolio by buying or by selling a property to buy another (or multiple), remember that in 20 years, all your decisions will look like gold 🏆!
