Do you have a crystal ball for the real estate market? Well, I don’t either. But I know that right now there has never been a better time to sell your home. But, that may not always be the case. I’m Felipe Crook with Exp Realty.
I’ve been in the real estate industry for over 18 years and I was selling Real Estate back in 2008 when it was very similar to now, prices were booming, we were seeing multiple offers and bidding wars, buyers were fighting for properties and bidding up the prices so high that they weren’t appraising. It was almost like overnight we went from having it be a total seller’s market to it being a buyer’s market. It truly was insane, we went from having no inventory to having a surplus of inventory. That in conjunction with the bad mortgages caused the real estate market to crash. We saw a decrease of around 25% here in Los Angeles, people were losing their homes left and right.
Now, I do not think that we are going to see that happen, however, I do personally feel that there is going to be a correction in the market. But I just don’t have a crystal ball, and if you’re waiting for the market to go up, you just never know when it could shift.
Also, think of this, if you sell your home and you get a surplus of money that you weren’t expecting because the market is so strong, that means you’ll also have more money to purchase a higher-priced home. Keep in mind that the higher the price of the home typically the less competition there is. You’ll still most likely be competing just like the buyers are for the home you’re selling, but if you’re moving up and not down into a different price point, chances are it won’t be as competitive as what you experienced when you sold.
Be sure to look out for my other videos on why now is the right time to sell and if you’d like to binge-watch you can check out my YouTube channel Youtube.com/felipecrook or visit my blog post to see them all by clicking HERE.
Now go out and make it a great day.
Felipe Crook, investing in your dreams.