Happy Friday, Y’all! I wanted to share some pressing market insight and my advice for potential buyers and sellers that are curious about how to navigate this current Austin market.
For buyers, interest rates are likely to stay in the same range or increase, it's not likely that we will see a drop anytime soon. If you buy now and the rates go up, you won, and if they go down you can refinance. Now is the perfect time to take advantage of higher inventory - more choices and fewer active buyers means less competition. Warren Buffet said, "A simple rule dictates my buying: Be fearful when others are greedy, and greedy when others are fearful." Right now, a lot of buyers are putting themselves on the sidelines out of fear, creating the best environment we've seen for buyers since before the pandemic.
For sellers, do you know the first questions we ask our seller clients? "Are you sure you want to sell?" "Have you considered keeping it as an investment property instead?" These are our first questions every time, regardless of the market, because real estate is a solid long-term tangible investment, particularly in times of higher inflation. That being said, sometimes it is the right time in your life to make a change. If now is the right time in your life to make a move, then it is the right time to sell. Trying to time the market perfectly is nearly impossible and could be costly. So focus on what you know. What is right for you, right now? The good news is that with the exceptional appreciation we've experienced over the past couple of years, you will make a nice return regardless. Remember our beautiful lake house listing featured in last week's newsletter? Sandy Mountain Drive lake house in Sunrise Beach, TX sold in one weekend with multiple offers and over the asking price! People are always looking to buy, and good houses that are priced right and presented well will always sell fast and for more.
