I attended the TREE (Triangle Real Estate Experts) Summit today at our local realtors association this morning. It was absolutely wonderful! Some of our areas Top Producers spoke about how they are dealing with the challenges of our current real estate market. All of them felt confident that the Triangle was not suffering the way many cities are, but that we have seen a "Shift"--which is a book by Gary Keller that I am currently reading.
The real estate market became a place where folks were not buying for shelter and long term investment. They were "flipping" and trying to make quick money. This caused a huge inflation of prices and as folks thought "If I don't buy now, I'll never have a home!"--they stretched their budgets to reach unaffordable homes, and now face a daunting situation of possible foreclosure.
Buyers now fear that if they buy "They will lose value as prices continue to fall".
We as Realtors, must be here for our clients, we must take this time to educate ourselves on how to help in these dire situations. We must get "Back to the Basics"--making phone calls to our sphere of influence, not just blanket emails. Sending personal handwritten notes (hard for my generation! I'll admit it!) to say "Thank You" for choosing me to be your real estate resource.
What goes up, must come down, and what's come down, must go UP. Buyers must feel this confidence, and we have to be there to give it to them. Rates are historically low right now and there is money to be lent.
High Inventory=Greater Opportunity.
Now really is a GREAT time to buy.
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