We usually know what’s going on in our real estate market. It’s what we do. But as recent events unfold and cause changes day by day, sometimes hour by hour, it’s difficult to keep up.
This is what we DO know:
It’s no longer business as usual when buying or selling real estate.
We have clients in various stages regarding their homes. Some are:
thinking about trading e.g., buying or selling
just about to trade e.g., ready to go on the market
on the market e.g., in the MLS/Whisper Market or looking for a good buy
under contract e.g., with an accepted offer/P&S in process or signed, waiting to close
Just about everyone is perplexed and looking for answers.
Right now, and for the past couple of weeks, we’ve been working in “triage” mode: assessing each situation, keeping first things first and doing our best to allay fears. (You may wonder: are any transactions closing? Yes. We had a closing today and have 3 more scheduled.)
Over the next few days and weeks, as more comes to light, we will be in touch with:
ideas and solutions
appropriate action plans
Hopefully, this will shed some light on your situation.
For now, a friend suggested that we keep up with our
Meditation: As in prayer and meditation.
Exercise: Keep moving the body. Walk it. Twist it. Make it jump up and down.
Diet: Don’t go crazy. No binging. Well. Not all the time.
Sleep: Make sure you get plenty.
We are and hope you are, too.
Bob, Sue and Kenny
PS: See the graph above: first bit of historic data.
What’s it mean? Basically, the only time a recession really hurt home values was in 2008 when values were artificially inflated.