It happens to the best of us, we all get bummed out from time to time. I literally grew up in this business. I spent my first 7 years in the first Corias home ever built, my family survived the 80s and the tech bust and everything inbetween. And we’re set up to survive this time around as well.
But to be honest, this week, it has all really gotten to me. I’m just in a funk over both the attitudes toward our current times as well as the ripples we are feeling here in Austin. I was thinking about how now is different from the good ole’ days of the middle of this decade and other strong markets. What’s different? I noticed how every time I found a home for someone, I could give them 10 reasons why it would be hard to resell. And I mean every time. It got me thinking, all of these homes would sell in under 100 days a few years ago, even the one with no back yard, even the one with 5 bedrooms and only 2 bathrooms. In up markets, pretty much everything sells. Now we are watching buyers as they sit and age on the fence. In the meantime, the homes are aging, rates are going up, and opportunities are being passed by.
I don’t think that an aged buyer is the best buyer. I don’t mean how old you are, I mean how old your search for your next home is. Waiting and waiting serves no one, yet there are justifications for being cautious. Will that home resell? My new answer is yes! Maybe not quickly in the current climate, but in a strong market, anything is possible. Someone will love the same things about that home that you love. Maybe you will sell in another slow market and it may take 6-9 months to sell your home instead of 60-90 days. But it will sell. And would you be this picky in an up market? Of course not. If you wait months to put in an offer in a sellers market in Austin, you’re very likely out of luck.
But buyers are faced with troubles as well, not just sellers. Sure, the amazingly low interest rates mean a great deal and quite possibly more house and there are still plenty of loans out there. Those with troubled credit can even find seller-financing. But buyers often also have to make a great deal of decisions. “Do we sell our house first? Should we refinance instead? Should we remodel?” These are all legitimate questions. And the answers may be easier than you think.
Don’t torture yourself! These decisions are emotional ones. When I have an emotional decision, I like to bring in a third, non-emotional party who can objectively explain facts and information to me. This is my job in these times. Not to be bummed out, not to cry over slow sales, not to cry over the state of the economy… to use my knowledge and experience in this industry to help you decide if it is the right time for you to move, refinance, or remodel.
You may think I just want your listing or you as a buyer client. But there are other ways I get paid, and if you need help with any of these questions over refinancing, remodeling, etc., ask me! I’d be more than happy to help you with your decisions, weiging options, and letting you just generally pick my brain so you can benefit from the knowledge and experience I have gained from nearly 3 decades in construction, remodeling, sales, and financing it all.
I’m still allowed to get bummed out from time to time, but when we do, remember there is always someone out there with an objective view that can help.
My advice is in a move-up situation, you’re getting ahead of the game. Not only are you getting bigger savings on the home you’re buying than any losses in the home you’re selling, but you’re also able to lock in amazing interest rates (saving you much more for years to come).
I was reading some Warren Buffett quotes today and this one caught my latest thoughts on the world beautifully. It is always with the best of intentions that we inadvertently outsmart ourselves, leaving us to feel the price in the end. With a heavy science background, I always try to keep the 
Although Austin isn’t seeing the horror of many other markets (like southern California), the nervousness and hesitation of Austin’s buyers still has us in a buyer’s market. So in a buyer’s market, what should you do differently, as a seller?
If they are not giving you all the facts, YES! A big part of the concept of our industry is cooperation. If I have a seller, I want to cooperate with an agent with a buyer for my seller’s property since most buyers are represented. Likewise, if I represent a buyer, I need the cooperation of the seller’s agent. I represent my client’s best interests, and the other agent should be representing his or her client’s best interests, but I still find that many are really only after their own interests. So what’s the point?
Anyway, the most expensive home sold so far this year was listed at $3,800,000 in Northwest Travis County. The sales price was under asking, but I don’t believe in revealing those details! This home was one of two homes to sell for over $3 million so far this year.
