Why sellers don’t need to freak out about the current market.
Are you wondering how the recent craziness of the housing market will affect you as a homeowner? Lots of people are! I am here to tell you not to freak out—this is not life or death. Current homeowners just need to decide if they want to sell now while the prices are still at a record high.
There’s no right or wrong answer to this. If your house drops a little in value, does it matter that much? You’ll still want a home to live in. However, the people I believe should strongly consider selling now are the ones who plan to move in the next year or two. This could be because of retirement, relocation, downsizing, etc. These are the folks who may want to consider selling sooner rather than later.
Any plan further than four years out is irrelevant. There is no crystal ball, and we can’t know exactly what will be happening in the market then.
“I have been through twists and turns like this before, so I can see that it is going to be okay.”
Even if prices drop, they likely won’t decrease to what they were in 2018. There were outlying factors then that do not apply now. Plus, there is so much growth currently happening in our area. It’s exciting to see all the companies moving here and all the recent changes. Thirdly, our state population is supposed to rise—it is predicted to double by 2035 or 2040.
I believe that the Triad is in a great position to keep moving forward and gaining equity. There may be confusion and dips along the way, but overall I think we’re going to be great.
For all my real estate friends that are getting a little nervous: the sky is not falling. Make an effort to stay away from the negative voices. I have been through twists and turns like this before, so I can see it is going to be okay.
If you want more information about the housing market and what these changes mean for you, call or email me. I’d be happy to talk with you.
