Let’s look at the Good, the Bad and the Ugly in real estate…
Realtors Predict Upturn in Real Estate
I just read an article about real estate and while it is interesting, the comments are even more telling. In particular, one person says that agents always proclaim it is a great time to buy, so you can never believe what we say. We are nothing but “cheerleaders” in their words, and somehow the story is not balanced because it does not spout gloom and doom.
Even if an article states facts and opinions that may differ from the views of this troll, the truth is it could be a great time to buy. Interest rates are really super low, and great deals are easy to find with the help of a REALTOR. But it seems so many are dead set against anything we say because of the perception that we are going to lie about the facts just to get homes to sell.
In Some Cases, It May Not Be the Right Time to Buy a Home
Now sit down, cool off and relax. Do not get mad because I am only stating my opinion that it may OR may not be the right time to buy or sell. Because if you are honest with yourself and with everyone else, you will admit we are all different. And every house is different. And every buyer and seller is different.
Knowing if the situation is a win-win for everyone involved is part of the value of using a REALTOR. We work to make sure it is a win-win for the buyer and seller, and are ethically and legally obligated to make it a win-win for our clients. It could be the opportunity of a lifetime. Knowing the difference is where we come into the picture.
Part of the value of using a REALTOR is our advice and counsel. And knowing local market trends and statistics is just one of many things we will use to help you decide IF buying or selling is the right thing to do today, in your particular case. So if you are a fence sitter as the commercial says, keep sitting on the fence until AFTER you have talked with a REALTOR regarding the possible purchase/sale of a home. If you think I am going to say you should buy/sell today, think again.
I am going to want to say:
Why do you want to buy/sell today?
Have you talked to a lender, so you can see what homes you can purchase?
What is your timeline?
Understanding your particular situation will help me to honestly advise you.
Even if I want to buy a certain home, does not change the fact that I may not be able to buy the home I have my heart set on. I went through this with my wife. We had champagne tastes on a beer budget. There is nothing wrong with wanting more than we could afford. We just had to accept the reality of what was possible.
But just because I want to buy something, does not mean I should. Just because we could be approved for 3-4 times the amount we decided to spend, did not mean we should spend that amount. If this is the truth for any other purchase, why would it not be true for what may be the biggest purchase you ever make? I may want a new big screen, but that does not mean I should buy one today. I may want a brand new Corvette, but that does not mean I should run out and start picking out my next car.
We got into this mess because too many wanted to walk before they crawled. They had to purchase a home before they were really ready to take on the financial obligations, or had educated themselves about the positives and negatives of buying a home. Sure the types of mortgages and the hyper inflation of home prices in some parts of the country was a main part of the problem. But accepting the reality of what you are capable of is important. Also is your personal situation, because everyone is different. Every home purchase/sale is different. Guidance and professional help is one of the keys to making a sound decision!
Understanding your mortgage, the local real estate market, the historical facts and figures related to home values in your area-they are all part of the equation. There are tax related questions to address. Many many different factors play into whether buying or selling is right for you today.
The prudent choice of a REALTOR is the no brainer way to go for FREE advice and counsel regarding your individual situation. Every individual situation is different, and obtaining the help of a REALTOR is so important in any real estate transaction. Maybe it is right to buy now. Maybe it is not! Your individual situation needs the individual attention of a REALTOR to advise you on the good, the bad and the ugly.