Every agent, everywhere has been faced with this question by a prospective buyer. When the market was hot in 2004-2006, you HAD TO BUY because whatever you wanted was going to be snapped up in a heartbeat. In the “dark days” of real estate (2009-2012ish), if you had the ability to buy, you needed to because prices were so low and it was a great investment! But what about now?
Interest rates are great. We’ve heard for quite some time that rates might creep up, but it looks like 2015 might really be the year. The difference in how much a buyer can afford is greatly impacted by the interest rates and 4% is hard to beat!
Home prices are rebounding. If you were waiting for that killer deal, those days are gone and you missed it. Home prices are still amazingly affordable, but they are starting to gain strength and rise. Get in now before you are priced out of the market!
Inventory is limited. This is really tough – many buyers are finding themselves in a bidding war which is emotionally draining. Your buyers may also have a hard time finding ‘the one’. On the flip side, this is a compelling argument of why now is a great time to sell!
Real Estate is a great investment. It is your hedge against inflation as the economy continues to recover and stabilize. Your investment is also quite likely to appreciate from its current value.
When confronted with this question, the key to having a great response is to know the data. If you know your market and can respond with specifics, your credibility is greatly increased and you will earn the trust of the buyers. Talk to your local Realtor® Association, your MLS, and read the data out there so that you can be the most knowledgeable agent in the Valley!
Just my thoughts,