What to do in this Market? Seems everyone is bashing the current real estate market. Media, print and TV, and streaming seems to be predicting a recession. The stock market is incredibly volatile-has been for the entire 2019. Let’s add to that the possibility of a war, and the existence of a trade war, and buyers and sellers are rightfully leery. So be careful, and be educated, and prepared…and get those deals! Call local realtor, Kim Kelly at 760-285-3578 for a REAL local real estate analysis.
The hardest adjustment to make in buying and selling real estate in ANY location or price point is timing when the local market may be changing from a buyer’s market to a sellers’ market or vice versa. How do you know?? You don’t..not at the exact moment at any rate. How can ANYBODY accurately predict what is coming? Don’t believe people who say they KNOW. I believe the reality is that local Realtors who are out pounding the pavement every day in different areas of their market know as much if not more than anyone else. If that local Realtor is also keeping abreast of financial markets, educating themselves as to the global influences that might be affecting sales, that’s probably the best you can get. What to do in this market?
BUYERS: Do not lowball a seller! Instead, deepen your education by broadening your search. Know your comps for past 6 months, AND past 12 months. How much is the price/sf changing? 2018 and 2019 prices have remained fairly stable..moving laterally rather than up and down, or straight up as they did in 2016, 2017 and early 2018. Be sure you WANT the property first off. You cannot know you are going to make money in the future, but plan on a longer window of ownership. If that is not what your plans are, hold off. Watch the community closely for an entire season. How about renting in the community if that’s possible?
SELLERS: Do NOT over price your property! Do not list your property to “test the market.” If you really do not want to sell, then don’t list. Buyers are cautious right now, and they are also educated, so don’t think they’ll be bullied into paying top dollar. You will still get top dollar compared to other homes in your community IF you have a great location, AND you take the time to stage your property. Clear it out, make it easy to love, freshen it up, and stage it for showings!