I am a huge NFL football fan, and I know that each team is able to carry a maximum of 53 players on its roster. Of this number, there are many who never see any playing time on the field.
A couple of nights ago, I was happy to attend a minor league baseball game with some good friends. While I was enjoying the game, I noticed that there were a number of players on each team who didn’t actually play. Instead, they were watching from the dugouts.
I thought about the potential home buyers I have spoken with over the past several months, and how similar many of them are to those players in the dugout or the sidelines who never get out on the field.
As a home buyer, you have the power to help change the real estate market for the better. How, you ask?
Basically, I have found that much of the difficulty with the Austin real estate market when times are slow (and this certainly applies elsewhere) stems from the perception that things are bad. This is a self-fulfilling and self-perpetuating phenomenon. In other words, the economy will improve (and housing along with it) when people feel like things are getting better, because they will begin to act.
If you are considering purchasing a home, NOW IS THE TIME!
The media has focused their microscope on our industry pretty heavily over the past year or so, and they love to trumpet any problems or “declines” that they can find. Unfortunately, this focus has been one factor that has kept buyers from moving on properties because they are concerned that things are worsening. The net result? It gets worse!
I have been through a couple of “down” cycles during my career, and the primary catalyst for change was action which followed the sense that “things are better now”. I remember this most distinctly after 9/11.
So, if you are in a financial position to buy a home, DO NOT wait. As I saw quoted somewhere recently (and I am paraphrasing here):
The best way to spot the bottom of the market is in the rear-view mirror when you are headed uphill, having already missed a prime opportunity.
You will probably kick yourself if you don’t buy soon, because interest rates are on the rise, and many of the basic economic factors are solid right now, at least in Austin. Don’t miss this chance.
It is time to suit up and get on the field. You will thank me for this advice later.