NYTimes.com has a great article today. The Times presents the present state of affairs in real estate as something of a stalemate. I saw the article as a confirmation of our thinking—me and my wife The Realtor—as we try to sort it all out over the past few weeks.
We work mostly with first time buyers who have a dream. We want to help make those dreams come true. But it has been really difficult these past few weeks trying to bring Buyers and Sellers together on price. We hear from other Realtors how they are having the same difficulty.
What to do? Ultimately I think it’s a matter of how you prioritize what you’re trying to do. Then you can screen out all the other chitter-chatter.
Housing is a necessity. Everyone needs a roof over their heads, whether living at home with Mom & Dad, renting or owning, one way or another, you need a place to live.
The problem has been the noise of all the investment money running into and around real estate has drowned out the true, fundamental dialogue that underlies every single house purchase: someone seeking a place to live.
If you screen out that background noise, what are you left with? I don’t know where the market is headed any better than the next person. That’s why I avoid predicting anything: it’s a waste of time. No one can predict.
I focus instead on that fundamental: housing is a necessity. As the NYTimes.com article points out, there is a confusing middle ground right now as Buyers and Sellers try to sort it all out. Buyers don’t want to pay too much and Sellers don’t want to sell for less than it’s worth.
It is a befuddling experience for anyone who is trying to buy or sell. Maybe the thing to do is just focus on your necessity. The rest will fall into place.
The NYTimes article is here: Hoping for Best in Home Sales