Still Riding The Fence On Buying Or Selling A Home?
February 8th, 2008 categories: Buyers, Sellers
I was looking out the window at 5:30 today and was happy to see that it was still light outside. I get seasonal depression during the winter so I am always encouraged when Spring comes around.
For real estate, Spring is typically the best month of the year. Kids are getting out of school soon, we all start to spend more time outside and for some reason the desire for something NEW hits us all.
S0….. You know things have been tough for real estate and you are riding the fence on what to do. So to help, I thought I would share a fresh perspective for you FENCE RIDERS.
If you are a buyer…
What if I buy and the prices go down again. The truth is that it could. You could buy today and tomorrow your neighbor sells his home for $10K less than you just bought for. You are already upside down. That stinks. But lets put this in to perspective…
Are you going to sell the house within a year? If you are, then yes… you may have made a big mistake. However, if you are going to stick around for 5 or more years then you will most likely be alright.
There are not a lack of buyers in this market.
Buyers are simply riding the fence and are afraid of pulling the trigger. Why??? Because we want to buy AT THE BOTTOM.
We sit on the edge watching stocks thinking… as soon as it hits the bottom I am going to get in. Sounds smart doesn’t it? Well, I will quote what the second richest man in the world who says…
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Warren Buffett
So, if you are preparing to buy and educating yourself then I applaud you.
If you think you are going to jump in at the perfect time and strike it rich then I would love to learn your secret. Once the Washington Post tells you that it is the time to buy and everyone is excited again then you have already missed “the bottom.” So, wisdom and education: good. Following your gut like a rookie day-trader: RISKY.
I am not trying to play the Realtor card to fool you in to buying when you are not ready. However, I do want to encourage you to think more long term about buying and realize that a great opportunity may be right around the corner for you!
If you are a seller… Don’t waste your time UNLESS you are planning to price it to sell. You have to let go of the idea that you are going to sell for more than your neighbor sold for 6 months ago. If your Realtor is not telling you to price it right from the very beginning then you may need to question if they are doing what you hired them to do, Advise you.
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