Since I’ve started my practice as a real estate broker, I’ve seen slow markets, fast paced markets, high and low inventory markets… Essentially I’ve seen it all over the course of the last 9 years. I am sure that as the years pass I will continue to see trends that are different, but the 2023 market has really caught my attention as one of the strangest markets i’ve had to deal with as a realtor. The best way to define the market in one word? – Hesitation.
From buyers and sellers perspective, the most common denominator I’ve seen this year is truly hesitation. Buyers are hesitant to pull the trigger on a home they love because they cannot decipher if the price is fair or not, and sellers are hesitant because the inventory levels are low on the buying side. The truth is, he who hesitates will regret it the most. Out of all the things I’ve learned over the past years is that, when you love a property, or you are ready to sell, pull the trigger.
– It is never the most ideal time
– The market can always be better (or worse)
– A new listing will come out in the next 3-5 days.
– Your home may or may not sell for more in the next few months.
There are so many unknowns in the real estate world that you will never be one hundred percent certain of the move you are making. Whether it be to buy or sell, it is always a tough decision, my advice is the following:
Stop waiting around, If you visit a home and you love it, make your move. There’s absolutely no reason to wait and see if something better will come along, or if the home might receive other offers. Strike while the iron is hot and make sure to put your best foot forward at all times. I cannot express how many of my clients missed out on 2 or 3 homes that they loved just because they were hesitant. Let me tell you, they learned their lesson really quickly after the first one or two.
No, your house is not worth that much
– Just kidding. If you are looking to downsize or up-size, run yourself through multiple scenarios (will renovations make it better?, will a new pool answer our questions?, what about a new bathroom? – No, perfect so take the leap of faith. If you and your partner are sure that you want to sell and get bigger, or go smaller, take the jump! Don’t wait until the market changes, or 4-5 other properties come for sale. Make a move when you know it is time to be made.
The easiest way to explain what I’m trying to say is – It’s not always more complicated than it seems. Sometimes it is simple, straightforward and easy. Don’t be afraid, trust the professional you have chosen to work with and take the leap of faith, for your families sake!