Dear Home Buyer: If The Housing Market Could Talk…

Dear Home Buyer,

We wanted to write and express our regret for the way we have treated you over the past five years. You’ve been hyped up, outbid and driven in circles trying to find a home. You’ve been rushed to decisions and forced to buy condominiums and houses without taking the time to think it over, because 20 offers were waiting. 

In some markets, even a home inspection was too much to ask- because that’s the way it was. Refinancing or getting a new mortgage to get your new home? I know we told you that interest rates would never get any lower, but they did, and sometimes we didn’t explain interest rate differential.

Multiple offers were the story of the day, and with the play by play reporting from the news media we wanted you to believe that the day was coming when the cost of a 500 square foot bachelor condo would be too much for the average family of 4 to afford.

But we are different now, please come and buy. Interest rates are historically low, there are homes available and we’ll try our best not to pressure you to buy now before you loose out. We’ve held our value and we still think we are the best financial decision you can make over the long term. 

Yours truly,

The Housing Market

I thought I would have a little fun with today’s post and write a pretend letter from the housing market to a would be home buyer. It’s a little sarcastic but in some ways I think it reflects the reality of our changing real estate market. Being a realtor who specializes in working with lifestyle home buyers, I think that market change is a great thing. With more homes available and the average time it takes for a house to sell longer than a day, it gives me a chance to work for my clients, to find them the perfect home that will suit their lifestyle and negotiate a price that will allow them to capitalize on their long term investment. We can weigh the pros and cons, and find you the best fit without having to settle for whatever is available.

Yes, we are in a more balanced real estate market, prices are still strong but home buyers have more choice. While premium homes still command a premium price and need to be acted on quickly, we are now back to a world where premium  really means premium- roughly only 10% of homes are in this category.

Is it a good time to buy or sell?
It all depends on what you are buying and what you have to sell.

For home sellers, if you have a home that is well cared for, shows pride of ownership, and offers value you will do very well because the truth is that many owners out there have not taken care of their biggest investment, and there are home buyers looking for a great place to call home.

Home Buyers? If you like rock bottom interest rates, low monthly carrying costs and more choice, you have a great opportunity to find a deal and make some real gains in home equity over the coming years.