I couldn't agree more ... people want to know and they want us to assure them that they can buy with confidence. We don't have any crystal balls here in Nevada either ... but ... I do think that the emotional return needs to be factored into what buyers consider as they calculate a purchase. If a buyer feels they will be happy to wake up in a home and spend the next few years of their life there ... I advise them that their emotional return is an important aspect of their decission process.
Enjoy this gret blog by Richard.
There is a difference between selling and salesmanship. The waters of the real estate market are a lot more turbulent these days, and so it is necessary to establish a good balance between the pros and cons of buying.
The most often asked question that I get there days is: “Have we reached the bottom yet?”
The second most asked query is: “If we bought it today at this price, how much do you think we could sell it for in five years?”
And the answer to both questions is “I don’t know and I can’t say.” I do NOT have a crystal ball, and any answer that I would offer would be an educated guess at best. I have seen things happen in the last five years that I have never seen happen in times past.
But what I can and WILL say is that you have to live somewhere anyway, and with prices and interest rates at their current levels, purchasing a home is a very attractive option.
When the property, the price, and the interest rate make sense to the buyer and override all reservations, the home sells itself.
And no salesmanship is needed!
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