There is a lot of conflicting information out there about what is going on right now — both in the world and in real estate. Regarding real estate, some are predicting a crash while others are predicting a boom. The question is “Who to believe?”
The Struggle is Real
One one hand, we all know that right now, a lot of people are struggling. In an article published this month (click here), CNBC noted that 32% of Americans hadn’t paid for their housing at the beginning of August. About half of those, according to the article, are homeowners. Many are in forbearance, and while they may think that their mortgage payments will be due at the end of the loan period, if they didn’t ask their lender, they may not know that the delayed payments could all be due at the end of the grace period. Right now, pre-foreclosures are starting to pop up all across the country. We very well may be facing a huge market shift, as homeowners seek to downsize to avoid financial distress.
The Market is Strong
On the completely opposite side of that spectrum, the real estate market is hotter than it was even a month ago (click here). House prices, especially in South Florida, are rising exponentially, mortgage rates are at historically low rates (click here), and there are no signs of decreasing buyer demand (click here). In fact, we haven’t seen buyer demand this high since 2010-2011. Real Estate is proving to continue to be one of the most stable investments, and my inbox is flooded with articles that are telling me, “The housing market is well past the recovery phase and now booming,” says NAR. And current owners seeking larger homes will “drive demand even into 2021.” (Click here.)
The truth is that, while we can guess what the future will bring, we don’t know exactly what’s coming, and we really never do. It is impossible to “time the market.” People try to do it all the time, with stocks and with real estate: they want to sell at the peak and buy at the trough. The problem is, by the time you’ve seen the shift, you are now already behind the curve. What we can do is act with the information we have right now. Right now is an excellent time to sell.
I Can Help
If you know anybody who is starting to face financial difficulty because of their housing situation, let me know. I have experience helping people get out of pre-foreclosure situations, and also helping them to lower their monthly payments and reduce their debt. I have sensitive discussions about money with people all the time. All conversations with my clients are confidential as we develop the best strategy for their unique real estate situations.
You Can Help
My business is based on referrals, so thank you for referring me to everyone you know who is thinking about selling or buying a home. If you know anybody who needs an experienced and professional REALTOR®, please share this with them. I can connect you with a local real estate expert anywhere in the world.
If you have any questions or want more information, please give me call at 561-806-8550. I’d love to hear from you!
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Heather E. Towe, P.A.
REALTOR®, CRS®, CLHMS®, e-PRO®, PSA®
561-806-8550 | heather.towe.gmail.com
Licensed to Sell Real Estate in Florida
How can I help you?
Luxury Real Estate Services for Palm Beach County, Florida.
*** Listing Specialist in Palm Beach County, including: Jupiter, Juno Beach, Palm Beach Gardens, North Palm Beach, West Palm Beach, Palm Beach, Jupiter Island.
*** Serving Buyers by referral throughout Palm Beach County.
*** Offering expert real estate advice to everyone, and referrals to local real estate experts all over the world.
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