This is a message written just for you because we care about your future and your economic welfare.
As most of you know, I am not a spring chicken and I have been a student of real estate markets since 1963 (no, I’m not that old, but that experienced). Markets have come and gone and for the most part, my clients who worked with me have done well regardless of market conditions. For better or worse, based on the data that I use (not from biased associations or the media), I have been able to accurately anticipate the 1989 and 2006/7 market declines and the 1996 and 2013 market recoveries.
The recent world events have opened a Pandora’s box of potential economic fallout. Your real estate is a major part of your economic portfolio. To put this matter in perspective, prior economic downturns were national with some international repercussions. Today’s situation is global.
What does this mean for your real estate?
- Today IS 2007 (the peak of that market). Property values might be at their peak.
- There are over 2 million mortgages in forbearance now.
- If you have been thinking about selling your property THIS might be your best opportunity – why?
- There is a scarcity of inventory (available properties),
- Interest rates are very low,
- Buyers still want to buy,
- Many agents lack the experience to anticipate economic events with which to advice their buyers,
- Putting your sale proceeds in the bank (or wherever you like to put it) puts you in a brilliant cash position. Why is that a good thing?
- If, as I expect, property prices decline, you will buy much more for less, and
- You will be helping a seller get out of trouble.
We cannot predict the future but can use past experience as an indicator.
The point of this message – If you are thinking of moving up, down, or around – now might be your best opportunity.
If you want to discuss this matter in greater depth, please reach out to me.
Wishing you good health, prosperity, and a minimum of inconvenience.