When Is The “Right” Time To Buy?
July 1st, 2013
Hello again, thanks for taking the time to read my blog. Obviously you are starving for something to do but I am grateful nonetheless. I am sort of new at this and I am sure I will get better with time. If not, you can always choose to not read my dribble drabble. I promise, you do have free will even if I have my super power, mind control garage door opener thingy engaged. You can overcome it. So sit back, relax, ignore that buzzing sound in your ears and listen to what I have to say….or else.
Today I wanted to talk to you about real estate marketing, well sort of. As a potential home buyer you are probably aware of all the marketing efforts from REALTORS® and others in the housing industry to urge you to “Buy Now”. They cite everything from mortgage interest rates to home prices to inventory shortages. They want to convince you, the consumer, that you could miss the boat if you do not act now. My question is; What really determines when is the right time for you to buy? In my experience as a real estate agent in the Cary/Raleigh market the most important factor in influencing when you make the decision to buy a home is, wait for it, YOU. Your motivations are unique and are based upon your life and what is happening in it. People have bought real estate when mortgage rates were in the teens. I bought my first home in the mid eighties with a fixed rate of 12% on a 30 year mortgage. No I am not that old. I was a child homebuying prodigy. I had to show them my license at closing to prove I was old enough to drive. My decision to buy a home was not based on a mortgage rate. Heck, I didn’t even know what a mortgage rate was. Of course rate and price were important because they determined what I could afford to buy but they are not what spurred me to action. My life did.
I have never had anyone contact The Mission Possible Team and say ” Hey Special Agent Tim, I woke up this morning and realized rates were perfect for me to buy a house”. The vast majority of home buyers and home sellers that contact us talk about their life and the changes that have occurred that have made buying or selling a home what they need to do. That doesnt mean that rate and price to not play a role in the decision process, they are just not the major player. We have had multiple clients comment that they never felt pressured to make a decision when working with us. Doh, why would we try to make you do something you are not ready to do? I want you to like me. I want you to like me enough to overlook my orange Raleigh Denim pants and my lavender shoelaces to recommend us to your friends. That’s just smart business and believe me this is a business. I do not crawl under houses, climb on roofs, or leap tall buildings in a single bound for free.
That is why Dani and I have based our business on building relationships, not selling homes. The more friends we have, the more involved we are in their lives, the more likely it is they will contact us when Life Happens. We want to be there for all of our clients, through good times and bad, to help them with this process. We know that life does not care what the mortgage rate is . It does not care how many homes you have left at “This Amazing Price”. So, when the time is right, we hope you will remember; Special Agents Are Standing By!