Trent & Co. at Compass Real Estate
Q: What is the Real Estate Market like right now?
A: So many people drop in casual conversation, “I hear the market is ‘slowing down,” or ask, “What’s the market like now?” My answer is always “The market needed this break, as it just got too crazy.”
At one point I had two perfectly qualified high-end clients that couldn’t compete with all-cash offers bidding $200K+ over asking price on properties. That’s not easy or fun to navigate for folks who had to move for work or other reasons. We needed the market to “level out.” That said, you will always have folks who must buy and sell, and our advice is to look at your goals. If you need to move quickly, price and present the home smartly on the sale side and be armed with strategies and solutions on the buy side. If you have a good plan, there are always options that will work.
Q: Should I wait to buy with predicted rate hikes?
A: As Trent always says, “It’s like going to Vegas.” While we can’t predict the future, our market is historically strong enough to see resilience. Your answer, again, lies in your strategy. Currently, the 10-year ARM has been the most successful play on the purchase side and bridge loans on personal equity the gain on the sell side.
The sooner you get your Real Estate support team involved the better you will be in navigating the post-Covid market.
“Getting what you want from real estate today is all about planning, and the sooner you connect with your experienced local Real Estate Team the better you will be in navigating your current situation based on hard numbers.”