Is The Real Estate Market Turning A Corner?

Our real estate team is seeing frequent multiple offers, well priced homes in escrow within a week or two, and level inventory. Is the market turning a corner? Where will we be in six months or a year? There is no way to predict! That is the very reason I was compelled to write this article. I want to caution all buyers and sellers to be weary of trying to "Time the market!"

There is no scientific way to do it. Why? Probably because the market cycles are not naturally occurring economic fluctuations. They happen because of corporate greed, elected officials serving special interests instead of constituents, and the media spin machine controlled by the same corporations feeding us misinformation. But that's a whole other matter.

It's important to minimize emotions when making choices about buying or selling real estate, or anything else for that matter. Evaluate your circumstances with complete honesty and choose based on facts and not on emotional attachments.

First, answer the why! Why are you considering to buy or sell? Is it a job transfer? Economic hardship? Change in marital status? Write answers to these questions down and analyze them.

Next, consider what options you have! If you are a buyer, consider it may never be this good to buy again during our lifetime. Prices are down, rates are at near forty year lows, and most sellers that must sell are ready to deal. If you are selling, consider your move. Are you buying elsewhere? If so, don't worry about selling low. You will likely buy even lower and have a new lower tax basis on your new home.

Lastly, get answers from the experts. Contact local neighborhood REALTORS and discuss your options. Most of my more professional colleagues will gladly consult with you without obligation and guide you through your decision making process. Our team would love the opportunity to answer your questions and provide information to assist whether you are buying or selling.