What you should know if you’re waiting for the market bottom.
When will real estate values hit the bottom? I wish someone would tell ME. I’d be a rich man if they would.
Let’s assume you’re sitting at your house, or maybe you’re on the toilet, and you’re watching the video above. Yup, caught you on the toilet! Digressing…
At 0:38 in the video, I have a diagram with home values on the y-axis and months from one to 18 are on the x-axis. I want you to predict when we’ll hit the bottom.
As an example, let’s use the current average home values in Washington County, which are around $500,000 and have been up 131% since 2012.
From this point, follow me as I start to draw a line, and tell me when I’m at the bottom.
As you can see from the video, there’s just no way to tell. I’ve been studying homes and prices every day for 17 years and have helped nearly 1800 families buy and sell real estate. I don’t know where the bottom is. You don’t know where the bottom is. Nobody does.
If you need to buy or sell because your family has grown out of the home, you need to get into a bigger house, or move across the country or town; then I suggest you have a dialogue with real estate professionals.
Note that I didn’t say I suggest you actually buy or sell. That’s a decision only you can make, armed with all of the necessary information.
But you can always move to the home that you want in any housing market, if that makes sense for your family.
Do not let the news tell you that it’s a bad time. Instead, do your homework, meet a pro, run a pros and cons list, and make an educated decision!
If you’ve got questions, call or email me. I’m always happy to help!