Life is short.
As the years roll by, this becomes more apparent to me every day. Where did all the time go? And how did it all happen so fast?
As we pull slowly out of the pandemic and begin to recover, I see evidence of life’s brevity all around me. In December, a cousin died of Covid – just one of 420,000 and counting. Last week, I got news of the unexpected, premature death of a former client. As I write this, I know three people of varying ages who are battling cancer – with mixed expectations.
Why all this gloom? Especially in an email about real estate, not to mention cocktails!
Because, “now” is the only thing we have. The past is gone and the future, aside from being impossible to predict, isn’t here yet. That, like so much in life, has implications for how we look at residential real estate.
If you’re wondering about the “best” time to bust a real estate move, I have an answer: the time is now.
Last March, at the onset of the pandemic, three buyers I was working with were certain everything would be much cheaper in the summer. As it turned out prices continued to rise. One got back into the market and bought in the summer – at considerably more than originally anticipated. Another is back in the market, but hasn’t found anything yet. And the third disappeared. Haven’t heard a peep since March.
Waiting to make your move based on predicting the future? It’s a crap shoot at best.
As for the past, well, regrets are a gigantic waste of time.
Did you miss a great deal? Suck it up and move ahead. There’s another deal out there. Did you overprice your house and wait six weeks – or six months – for a buyer? Drop the price, get the sale, and smile as you count your proceeds. Regrets over the past only make the present less pleasant.
Some things about NOW
Money is cheap. It may be more expensive later. It may not. But right now, it’s cheap, and cheap money means buying power.
Inventory is tight. Things may loosen up in the future. But they may not. If you need a house, start looking now. It could take a while to get a deal.
Buyers are plentiful and clamoring for property. Thinking about waiting until the spring to list your house because there will be more buyers looking? In this market that concept is completely defunct. Do you want to sell? Do it now.
The big point is this: in residential real estate, where investment value is really secondary to the value of having a roof over your head, the present is always the best time to act. If you are ready, willing, and able to buy a house, buy one. If you’ve stumbled a time or two (and who hasn’t?) drop it and move on.