When you have been selling real estate for as many years as we have, it is hard not to experience the ups and downs, the bumps along the way and the market jitters that can impact sales. We have been swamped with calls and texts from our clients asking our opinion on how the coronavirus will impact our industry. While we don’t claim to have a crystal ball, our experience weathering many storms has taught us that every crisis ends and the resilience of the market is always the ultimate winner. With that in mind, our medical teams across the country are doing everything they can to reassure us all that we have the best medical providers in the world and is quickly working on the vaccine.
It is important for us all to continue to work, move forward, be creative, communicate frequently with customers and carry on with our work to the best of our ability. Panic and fear lead to paralysis and can often impact businesses negatively because people make bad decisions or fast decisions based on this fear.
The fact remains there will always be people who need to sell homes and people who need to buy homes. With inventory at historical lows and rates at historical lows, all things considered it is actually a great time to take advantage of the market and those that do will have a good chance of finding success.
The spring and early summer markets are “Christmas Season” in real estate and not a good time to be on the sidelines and out of the market. If you are considering buying or selling a home, message me. I would be happy to discuss my thoughts on the current market and help you devise a plan on meeting your real estate needs. If you have friends, family members, or business associates that are interested in local real estate, please do not hesitate to share my contact information.
- Do Not Fear Change: Change is the one thing we can count on happening and successful people adapt and apply new strategies to navigate that change. Often the change is something that results in a better outcome, process or experience for our customers.
- Houses are still valuable and important to Client portfolios: Buying a home is still—and always will be—one of the smartest strategies people can employ to build wealth. With interest rates low, now is still a good time to buy.
- Think long term: the cycles of ups and downs are an inevitable part of any business and looking back or analyzing downturns is only valuable if you apply something learned to the future.
- We still have a shortage of supply here in the Memphis market: We don’t expect a housing crisis in our market and we don’t see housing prices falling even with the virus crisis. The market here is still better than many across the country and Memphis has never been a “boom or bust” market. We expect housing prices to stay strong and the demand strong.
- This too will pass: Spring is here and warmer temperatures are coming which means it will be prime selling as this virus gets under control and we can “flatten the curve” of spreading it.
- Optimism is contagious: Our customers look to us to provide guidance and help them successfully swim through the currents of the buying and selling process. We believe in the spirit of America and the ingenuity of the working people. It’s hard to keep us down and, together, we can bounce back stronger than ever.
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