Uncertainty: The Great Unknown
What do you do during uncertain times?
The latest example in our lives is what happened
with our son Luke this week.
He is a senior and quarterback for the #2 ranked O’Dea Fighting Irish. During a drill at Wednesday's practice, he broke his foot.
After successful surgery yesterday, his healing is well underway
as we focus on getting him back on the field.
No one saw this coming, especially Luke.
Many of us have events in our lives just like this. Something big happens and we have to decide, which way do I go?
Sometimes it is clear as day and other times it is just confusing.
Uncertainty and real estate go hand in hand. There are many things that are out of our control when it comes to real estate.
Most notably, mortgage rates and when to transact.
Mortgage rates have more than doubled over the last 12 months.
7+% interest rates have significantly affected the local housing market.
Available homes for sale has significantly decreased,
pending sales have also decreased,
and home prices have remained surprisingly stable.
So when do you know when to transact?
There are numerous reasons home owners decide to sell.
Right now many sellers are doing so given an “uncertain” life moment such as a job relocation, upsize/downsize needs
or change in relationship status.
How can you increase the clarity of your real estate decisions?