2019 all new and exciting
It’s a new year that is welcoming us with open doors, excitement, speculation, opportunities, and for some there could be disappointment. The news headlines are cloudy at best, but the sun is still shining and while some will see the storm coming, others will be seeing the opportunity. If you’ve been basking in the riches of the recent market run in real estate, you should be celebrating as you have been fortunate enough to be in position to take advantage, others that have found frustration in recent years could find 2019 to be an enticing year. There is potential for home prices to cool, interest rates to stabilize if not reverse direction, and just a more balanced housing market. Some could argue a recession is coming, others would point out the amazing opportunities that could come. Point is you can choose to see the storm or you can seize the new beginning.
This post is about the opportunity. Preparedness is key, acceptance is another word i would suggest we should all embrace. If home prices cool their will be some perception of lost equity for homeowners. I may suggest that unless you have owned your home for a short period of time it is irrelevant what your home was worth in 2018, 2017…… Looking at those numbers is really just looking in the mirror and saying “what if”. If you compare what you bought your house for and what your potential sale price is today I think you would still see some attractive numbers. Those that are willing to accept change, adapt and prepare for the future will find success in this market.
Myself I’m excited for 2019 and looking forward to see how it plays out. I think there is room for interest rates to decrease, in fact the bond markets suggest a decrease to fixed rates should be imminent. I think the local market will see more of a soft landing. However buyers will will be demanding to see value. The lack of inventory and strong demand have held prices up the past while. Look for more listings to hit the market as potential sellers see the opportunity to make a move sooner than later. If your a buyer be prepared, be patient, and be informed. Wait for your opportunity to present itself. I firmly believe there are good opportunities in every market. Remember, it’s not just about making a good purchase, it’s about developing a plan and executing it. If you plan to be a long term owner or a short term investor, it’s the planning, preparation, and execution that dictates your success.
Welcome to 2019 everybody!