What can you do in a market that's not only constantly changing, but rapidly evolving? Interest rates, home valuations, buyer and seller sentiment all play a major role in today's market. Couple that with emotions that can often times make folks lose sleep!
There's no doubt that folks on the sidelines are furious about the conditions, given the old adage as rates increase home values drop. While this still holds true (sometimes), the listing prices are holding strong. Though early warnings of a recession are blinking, folks with cash or stock holdings will undoubtedly find refuge in hard assets.
For those that are confident about their medium to long term plans (7-15 years), my advice it to pull the plug and jump in, and negotiate vigorously to meet your expectations and not get overwhelmed.
Those that have uncertainty about their immediate to near future (0-6 years), you've got time to soul search about your next steps, but my advice is not to wait too long. There are many folks I know that have tried to time the market to their own detriment - often skipping out when values increased significantly over time.
For any advice, don't hesitate to reach out.
Reshma
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