Well, I wish I just had good news to report but accurate news is actually what people need.



Uncertainty is all around us right now.

People are listening to the news. They're watching banks that are failing and they're asking big questions right now about the real estate market. But in fact, ‘uncertainty is at the heart of invention’, and I love that quote. It's such a good one, especially right now, it's so prevalent as buyers are looking toward the market and thinking, what's actually going on? Well, it's actually really good news, because as the FED has continued to hike interest rates, we're seeing inflation start to come down and the big one that we're watching right now is that 10-year treasury note, which has continued to fall, meaning that mortgage rates since last October have dropped.

If you're a buyer in the market

Here's the good news, and here's also the upcoming maybe bad news. All of our phones are starting to ring and that means that, so many more buyers are now getting interested in the market. Why? Because as those interest rates come down, affordability and the loan options that are out there become more prevalent. So, my strong suggestion to you is this, if you've been considering moving at any point in 2023, make a phone call right now in order to at least get that process started. So we can start looking for homes for you on market, and off-market.

But, uncertainty keeps hitting us every single way. Buyers call us and say, how come this house is sitting on the market for a really long time when other houses were having multiple offers? Take Rhode Island for example, we've got homes there, where 375 of them sold over the asking price. And yet we also saw that 15% of all the homes that sold over the last 12 months saw significant price adjustments. How can that be? That's why there's uncertainty in the market, because buyers are experiencing one type of transaction here, and a different type of transaction over here.

Sellers are saying the exact same thing.

They're asking the question, well, I'm seeing these rates increase and maybe I missed my point, are there really buyers in the market? Is it okay time? So, here's the uncertainty that sellers are facing. They know that if they put their home on the market, it's going to sell. However, what they're concerned about is, do I have a place in order to go. We've got great news for you, many of the deals that we're actually closing now, some well over a million dollars, and others are just brand new starter homes happening off-market now. It's a great time to be a real estate agent if you're connected with other real estate agents. This is one of the best things that I can offer you. If you've considered getting into the market in 2023 get connected with a real estate agent, that's also really well-connected. 

What happens there is they're able to do a lot of talking because many sellers want to sell their property but don't want to put it on the market, they don't want the showings, they're not really sure of where they're going to go yet. So they just want to have the opportunity to discuss with other buyers. We use a specific form called a ‘withhold’ from the MLS where we're able to actually talk about your property to other Brokers and make plenty of deals. I personally got one closing just this week based upon that where a home seller decided I needed to sell right off the market. They didn't want to go to the market for a variety of reasons. We were able to find them a buyer in just under a few days. So if that sounds like you, this is a great opportunity. 

The great investor, Peter Lynch, once said that more money has been lost trying to time the market, than actually in the market itself. If you're trying to time the market and real estate by the lowest interest rate or the lowest house price, you're going to miss out. I know people who have been trying since 2015, they've been waiting for the market to crash. My friends, it's not happening. There's too little inventory in the market and too many buyers in the market for that to happen right now.

What to do now?

The best thing that you can do now is actually reach out to a real estate Pro who's well-connected in the market, who can help you find an option, whether on or off-market.

In times like these we’d encourage you toreach out whether you looking to buy or sell or invest in real estate!  We serve customers in Connecticut, Massachusetts, Rhode Island, and in Florida.

Have a great month!

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