When Is The Right Time To Make A Move?
This post is geared towards homeowners and buyers who aren't in a position where they have to move but are thinking about whether they should or not. We are discussing what it looks like when it's time consider a move. I get asked this question all the time. Below we are breaking down my answer. Let's get into it!
I love this question! It's a great one and it's a question millions of Americans ask themselves every year. The answer is quite simple.
Now is the time to make a move if it makes sense for you.
Let's review the past several years.
From 2020-2022 we saw record breaking low interest rates. Of course, this was a fantastic time to buy and sell real estate. Millions of Americans were able to purchase a home during this period, locked in at an amazing rate. Investors' money went much further with low rates, allowing investors to jump on more properties in 2 years than they may have otherwise purchased in a short timeframe.
Sellers, some who may have never considered moving prior, were able to capitalize on this market to get record breaking numbers for their homes in communities across the US. I've personally worked with so many wonderful people who decided it was time to jump on retirement early. They sold their home and used those funds to buy their dream retirement home on the water or in the mountains.
In 2023, we saw a shift in the rates. With less active buyers in the pool, it's been a little easier for a buyer to get their hands on the home they want. We haven't seen as many multiple offer situations, and overall, there has been less competition meaning buyers finally had some power again in the market. Don't get me wrong, it's still a strong sellers market. However, buyers have had a better chance at winning over terms during negotiations, which has certainly not been the case in recent years. For investors, 2023 was a great year to jump into the market due to less people purchasing real estate.
These periods of real estate have the same thing in common. Each season has allowed all sorts of people the opportunity to buy and sell real estate. At least one of those seasons worked for them to so do.
This remains true going into 2024. We are now seeing a positive shift in the rates and anticipate the rates to continue dropping this year. Some buyers / investors with great credit may already be locking in around the mid to high 5s. It's going to be a great year if you're looking to make a move.
How can I help?
My job is never to convince you to make a move. My job is to provide you with all the information and tools you need to see if it makes sense for you to.
It may not be the right time for you to buy or sell, but if you don't have the information you need to make that determination, how will you know?
If now is not the time to move, let's come up with a future game plan for when you're ready or want to move. I make it a point to let those around me know I am available to help however I can. Whether you're looking to move now or in 5, 10 years, I will always be here to help a past, future, or potential client and I'm certainly available to help a friend.
If you need home values, opinions, contacts or contractors, etc. give me a call. Preparing your home for the market can take time. Let's get a head start for Spring 2024.
If you need financing, there are so many loan products in 2024. You may be surprised to learn you qualify for a product that gets you exactly where you need to be. This is where having an educated Realtor matters. Good Realtors do their homework.
During a sales meeting at the office recently, a seasoned agent touched on this topic specifically. If we don't have the information our clients need, how can we do our jobs? We offer a service. It is our duty to be well informed so the public can be too.
There are advantages and disadvantages to moving in every market. Let's look at your individual pros and cons so you can decide if it's worth it to you to make a move now.
If you've been thinking about buying, selling, or investing in real estate around Charleston, SC or East Tennessee including Knoxville and surrounding areas, The Great Smoky Mountains, or any of our wonderful lakes, I would love to talk with you! Click below to be taken to my form page where you can shoot me a message. I will get back with you as soon as I can.
May 2024 be your season! Thanks for checking in.
x Lauren