Rates are up, Inventory is down. What is a buyer or seller to do?
The news coming out about real estate, both locally and at a national level have people worried. Buyer purchasing power is down due to rates increasing. Inflation and a tight home inventory supply have choked the interest out of buying homes. Sellers want to take advantage of a heavily leaning Seller's Market, yet are overwhelmed to the point of not even selling their home for fear of having nothing to buy. Does this sound familiar?
What are we to do? Buyers continue to need homes. Sellers want to take advantage of the market without paralyzing fear. Home construction continues to slog through high lumber and fuel prices, and a strained supply of mechanical, electrical, and plumbing materials.
To overcome these obstacles buyers and sellers need to prioritize experience navigating fast-moving and complex markets, where indicators at the global, national, and local level all have a direct impact in play on the real estate markets.
Experience can lead to a strong order of operations. Imagine someone setting up a large display of dominos to be toppled in a fine display. Everyone understands proper preparation was needed before the full display can begin. Real estate can be a lot like dominos, it takes tremndous preparation and careful planning, but also the knowledge to know which dominos can be replaced or re inserted later in line, and which ones are crucial for the whole thing to come off as a success! Guessing in this market, and using hope as a strategy can cost you time and a lot of real world money.
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We're a local, independant real estate brokerage serving Austin and Central Texas since 2005. We would like to help you when you're ready.
If you would like a free primer about Buyer Agency, text the code 9093 to +1 512-515-1195.