Keep Your Cool Despite the News - A Few Reminders
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1. We have all heard about the run on banks, and I am here to tell you what a colleague said so eloquently.
"Your real estate investments are secure and won't disappear in a bank run."
What better place to put your money than into an asset that you can take care of and improve on, all while it offers you tax benefits and appreciation. Trading up or down in this market is ideal as well, since you are cashing in and buying in the same climate. Your money in the bank won't take care of you like that, and your stocks are a lot moodier.
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2. If you are one of the many who say, "I will wait on the sidelines and buy when the market cools down", you have missed opportunities for about 10 years now. That's a big chunk of life that's passing by. A wise man who works with Warren Buffet once said,
"we all know if you buy low and sell high you make money, but you can also buy high and sell higher."
Think about that - if you and bought a house in 2020 when it seemed like the peak, there's a VERY good chance your house is worth a lot more today. Make calculated risks and keep moving forward.
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3. Your home's intrinsic value far exceeds what you paid for it! It's a place to make memories, stay healthy, raise your children, your pets, and let your creative juices flow. It's a place to sleep well and be safe. It's a gathering place for friends and family. While you are doing those things you aren't thinking about a past negotiation with the seller, or the one outlet that didn't work during your inspection, or even a slightly older boiler that can be replaced. You truly can't put a price tag on what your home gives you back, so take a step back and look at the big picture. If the economy does shift, don't you want a home you love to be your backdrop?
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4. Thinking of selling? Now is the time to do it! Inventory is still historically low in our area and buyers are out there; especially if you are under $4M where there is a huge void in inventory. Take a look at this week's numbers below for the full scope. Sellers are still building wealth through real estate. We can't predict the future, but we can control the present, and it's a great time to list your home for sale.
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As always, have a great week and reach out with any questions!
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