A look into my crystal ball...

Dispensing real estate advice is one of the things I love to do best! If I only had a crystal ball—it would make the job so much easier. These new twists and turns may make the market more challenging to predict, but fortunately because I have been in the business for a while I have a pretty good sense of the market.

It's always interesting to see the effects of the economic turmoil as it effects our clients. I just received an email from a client who works in sales for a major hotel chain. She is really worried about her job and has wisely decided to hold off buying until she feels certain her job is not in danger. So sad! She has been saving her money for several years and taking good care of her credit so that she would be ready to buy. This would be the perfect time to buy—prices are low and rates are the best we seen in a while, but unfortunately she has no job security.

I have another client to whom I recently sold a great townhouse in Warwick Village. She has a secure job with the federal government. She tells me her friends are nervous about buying now. I’ve told her that the only people who should be nervous about buying now are those who need to worry about their jobs. On the other end of the spectrum I have a buyer who has been making a living as a day trader who got “caught” in last week’s market drop when his funds were frozen. Of course, the perfect house for him and his significant other came on the market. We can only hope that his funds become ”unfrozen” and the house remains on the market.

So here is my advice—if you have the funds and job security this may be one of the very best times to be buying property in our area. Don’t wait! The spring will likely bring a better market than we have seen in a while which means sellers will do better—not buyers!

Sue