Rollercoaster Rides Are Fun, Banking on the Basics is Smart

I'm baaAAAaaaack!  Both the wedding and honeymoon were absolutely incredible.  I've already shared details with many of you, and was fortunate enough to even have some of you join me for my special day.  During his toast, my father warmly and astutely pointed out that I get to run a business in which so many of my clients become friends.  And whether or not you were at my wedding or consider me to be more than simply the real estate agent in your life, just know that I'm immeasurably pleased to be running a business full of people I genuinely care about, and who care about me.  It's awesome.  My transition back into "normal life" has been, if anything, enjoyable because the people I work with and for are of such a high caliber.  And before I move onto the more pure real estate stuff, if we haven't talked since I've been back...let's catch up!  I'm the type of person who (despite my love of y'all) isn't fantastic at staying in touch (which is a big reason why I do this newsletter).  I never want to feel like I'm bothering or interrupting people.  But, without fail, I feel fantastic after the "it's been a while" phone call is actually had.  So let's have 'em!

Now, onto real estate.  It is glaringly obvious that I've returned to the best market for buyers in years.  Part of the reason why this is the case is because buyers just aren't taking advantage of the situation.  There's a "chicken or the egg" aspect here, but I mean, take a quick look at the headlines down below.  Inventory is up, price drops are up, cancellations are up...all while rates are down and, now, inspections are allowed by right.  I hesitate to call this a true "buyer's market," as that's more of an objective, calculable thing (typically defined as a >6 month absorption rate).  It's too early, and there isn't a big enough sample size of data, to support taking it this far.  But I'm just reporting on what I'm seeing, hearing, and experiencing with my clients now in Spooky SZN 2025.

I'm a big believer in groupthink very much so being a real thing - and certainly applying to real estate.  Buyers believe they're making the right choice when fifteen other buyers are offering on the same house they're offering on.  I think that's wrong.  Like so, so wrong.  I'll spare you the Buffett quote that everyone's tired of hearing, but believe me when I say that there is a tremendous amount of value (in every sense of the word) in zigging when other people zag.  Plus, there's kinda no logical reason as to why one should put off buying until the spring.  Think rates are going to go down?  Well, buy now and refinance later.  Think better homes will be on the market in the spring?  Maybe so, maybe not.  But I can guarantee you that there will be more competition.  Does it feel good to win a competition?  Sure, but this is not like it was in COVID, when people were bidding "crazy" amounts over asking.  Those buyers had 2.8% interest rates and look like geniuses now.

Want to look like a genius in five years?  Buy the fixer upper in a great part of town, bank on my network of professionals, and build equity.  Sound like real estate done the good old-fashioned way?  Perhaps.  To me, it's more of a return to basics after what has felt like years of a rollercoaster ride.  Frankly, I welcome it with open arms.

Have questions about what it means to be a buyer or a seller in this shifting market?  Again, I invite you to give me a call at (617) 872-9731.  I guarantee that you won't be a bother.  Talk soon!