That's what the Housing market is telling us. The media is starting to ask if housing has hit bottom. “Should we be buying?” It all depends on if we look at fundamentals or the emotional side of the market. As for the fundamental side, just today we saw the highest increase in pending home sales in over a year!!! Could this be the start? Maybe...yet when you look at the emotional side people are still scared.
I asked some of our clients how they were doing right now to gain some clarification on whether the fundamental or emotional state is more reliable. Their response was: “We are actually doing well. Our agents are working harder, taking on properties that are priced fairly, and investing in getting their jobs done. There are fewer agents and the ones left seem to be really focused on their jobs and love the fact that there is less competition and are getting through this market just fine.”
Let’s face it; real estate has one of the lowest barriers to entry than any other profession. All the rookies and pretend agents with a great picture have checked out and what remains are the experts making changes where it counts in order to stay ahead.
So whatever the fed does, or the treasury, even the media, as long as we keep hearing things like this and focus on the fundamentals, we can feel some comfort that what started all off this mess, can also be its savior. In time, In Time…
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