MarketWatch recently came out with a survey that stated consumer confidence in the real estate industry is the highest it’s been in 16 years. There are a lot of positive changes happening in the real estate market right now. That being said, there are a few groups of people I want to address about the opportunities they have in this current market.
The first group of people I’d like to address is those renting a home right now. If you bought a home eight years ago, selling now would likely give you a huge profit. The average check that sellers are getting who bought during this time is $51,000. If you’ve been renting for the last eight years, you don’t get any of that $51,000. You may not have even gotten your security deposit back. Homes are more affordable than you think, so I recommend making the transition from renter to owner as soon as possible.
The second group of people I want to talk to is my fellow baby boomers. A lot of us are continuing to hang onto large houses for fear of downsizing. We realize we don’t need all of the space, but we don’t want to give up the big house either. However, make no mistake about this market. It will disappear, starting from less expensive homes upward. You won’t have the same choice in three or five years that you do right now. Downsizing sooner than later is the key.
For the latest on what’s happening next in the real estate market, don’t forget to visit our coming soon homes site here. If you have any other questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.