We've noticed a pattern with buyers lately that I wanted to share with you this week. At MGS Group we call it "non-buyer's remorse," and we've been seeing it quite often. I have also recently become a victim of this syndrome over a multi-family property in North Carolina. I should have bid on it for an investment property, and truly regret not doing so. I am sure my agent down there was frustrated with me!

Buyers are feeling this remorse about houses they decided not to bid on, or properties that they underbid on and lost. Once the house is under contract with someone else, they then desperately try to break up the deal between the seller and the future owner. We have witnessed this many times recently, and it's a complicated and emotional situation for everyone involved. These "non-buyer remorse" folks know they won't really get the house, so it's easy to throw out incredible terms if realistically you have nothing to lose. The problem with this regret is that it doesn't have to happen. Someone will be the next owner of a property for sale, and it can be you. Head into this process realistically knowing that these are still fast moving times and decisions have to be made quickly, but thoughtfully. I realize that is a tough balance, but quality agents have become quite skilled at it and can guide you. 


I urge buyers to block out the media hype proclaiming that things are slowing down dramatically. The good houses are still selling. Last night in a matter of hours, a $3M property in Wellesley had five offers and sold way over asking. This market has been hot for two and a half years now - it's the new normal, and here to stay in the near future, so best to embrace it. If you want to buy a house, jump in and get it done! There are strategies that work. We won't see the top until it's behind us.


The experts don't believe that a major correction is imminent. Yes, volume may slow down due to rising interest rates, but prices are expected to continue to rise a bit more or potentially plateau. I thought this data from CNBC nicely demonstrated the payment shift for buyers as a result of rising rates. However down in Raleigh-Durham North Carolina where there are lower price points, buyers are still out in full force and not holding back. 


The market is greater than us all! We see it time and time again, but I have the privilege of taking a step back and looking at the big picture as a real estate professional. It is just so interesting how the masses take on trends - and regret seems to be one right now. 


So get out there and buy that dream house now, move in, and start making memories. Let's not lose sight of the real reason behind your purchase. I have not had ONE client who regretted the house they bought since 2019- even with the craziness to get there. 


Finally, a little shameless self promotion! I was named this week as one of Boston Magazine's Top Producers in 2021, and just received the email I am recognized as one of the top 1000 brokers in the United States by the Wall Street Journal Real Trends rankings. Exciting!! Time to celebrate.


Happy Weekend!!!