03/21/2022
I saw this post shared (from another agent) by my Mississippi referral partner and thought…”yeah, we need to share this information”.
I have educated opinions about the future of the real estate market and I’m curious about the plans YOU have in real estate and how I can offer advice or planning. One thing I know 1,000 percent to be true in any market is this, it’s NEVER too early to start talking your plans with a realtor because real estate is fluid and it’s not one size fits all.
I’ll leave you with this… if you knew today that the price of bitcoin was going to be less affordable tomorrow and you were interested in investing in that stock, would you wait until tomorrow to make the investment or would you consider making the investment today? Real estate is simply a tangible investment…
Let’s talk!
💜💚💛
“The Real Estate Conversation That’s Needed RIGHT NOW…
Everyone practically everywhere is living in a market with inventory that is insufficient for the number of buyers who want to buy homes.
This week the Federal Reserve did everyone a favor by increasing interest rates and more importantly, letting everyone know that they plan on making six more rate increases during the year. Why do I say this was a “favor?” Because before that meeting, the future of rates were uncertain and now they are not. They are going to go up SIX more times…over time.
Anyone who can see beyond their nose should realize that this information is the basis of a conversation to have everywhere, with everyone and anyone who will listen. People who are living in homes they intend to sell “later,” should take the time to consider the ramifications of “hoping” that there will be a better (less expensive) time to buy than right now.
If you know that rates are planned to go UP six more times over the course of a year, then NOW is the time to put pencil to paper and figure out how to get the most for your home now while saving you the most money for your next home. I heard an interview on CNBC yesterday where someone shared their belief that interest rates could end up as high as 6 or 7 percent, given the right circumstances. As it stands, the interest rate hike of .25% was slightly less than the market anticipated and the increase announced on Wednesday was already priced into the market. Who knows where rates go at the next announcement?
When pressured, buyers - and particularly sellers - put off now what they hope for later. If things stay the same from now to later, that’s not a particularly flawed strategy. However, we’ve been told in no uncertain terms that later will be more risky and more expensive to those entering the market as buyers. Therefore, the consultants of the real estate world need to CONSULT as many homeowners as possible to help future sellers/buyers self-discover the merits of selling and buying NOW as opposed to later. Remember, now won’t be the best time for everyone, but it will the right time for some. And if every agent with every company would make this conversation an absolute priority in their business right now, then everyone’s “some” would increase inventory levels enough to end the constipation everyone is experiencing in the market.
Real Estate is the economic tow truck of America. If you are an agent, this is the time to find and tow as many idle sellers back to safety as you possibly can. And if you are not an agent, but a homeowner, please let this be a wake up call for you to seriously assess your housing needs now and later, because the Federal Reserve just turned “later” into “now.”
The real estate industry has thoroughly enjoyed record low interest rates without threat of increasing…until now. If you missed your opportunity because you thought interest rates would stay historically low forever, you miscalculated. However, the good news is that the Federal Reserve just gave us a glimpse into the future of interest rates AND the “luxury” of time to make some crucial decisions about your housing needs that will save you ridiculous amounts of interest payments IF YOU ACT SOONER THAN LATER.
TickTockTickTockTickTockTickTockTickTockTickTock…
Good luck!”