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A Note From Me
Be Intentional, Not Reactive
If there is one word I would use to describe how to approach today’s real estate market, it’s intentional.
Mortgage rates remain elevated, and affordability is very real. Buyers can only stretch so far. For sellers, that means meeting the market where it is—not where we wish it were. Homes that are priced appropriately from the beginning have a much better opportunity to attract serious buyers and get to the closing table. Starting in the right place is almost always better than chasing the market with price reductions later.
But here’s the part I think gets lost in the headlines: people are still buying and selling homes.
The latest Valley data shows homes taking about 64 days to sell, compared with 67 days a year ago. Sales activity has also shown year-over-year improvement. So while this certainly isn’t the frenzy we experienced a few years ago, it isn’t a market without opportunity either.
Life continues regardless of interest rates. Families grow. Kids leave home. Careers change. People relocate. Parents age. Investments mature. And sometimes we simply decide we want something different.
With continued economic and geopolitical uncertainty, I think this is actually a wonderful time to become more thoughtful about what you want the next few years to look like.
Maybe that means purchasing an investment property. Maybe it’s finally buying the vacation home you’ve talked about for years. Maybe you’re considering downsizing, upsizing, relocating, or figuring out how to make the equity in your current home work harder for you.
You don't have to be ready to move tomorrow to start that conversation today.
In fact, some of the best real estate outcomes I see are engineered well before a property ever hits the market or an offer is written. Understanding your equity, financing options, likely selling price, monthly payment, tax considerations and timing gives you the ability to make decisions from a position of preparation rather than pressure.
You don't have to predict the market to make a smart move. You just need a thoughtful plan for your life within it.
If real estate is part of what you're thinking about for the next six months, year—or even the next few years—let's start the conversation now. Sometimes knowing your options is the most valuable first step.
Kendra Harrison
REALTOR® | REAL Broker
Summer ’18
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