Thursday, October 19, 2017
My Crystal Ball! What the heck is the Real Estate Market going to do next with new mortgage rules-Flat Rate Realty Brad Sinclair
Market flexing. New mortgage rules. Flexing values. Holding Offers. Long Irrevocable Dates. What is the crystal ball saying what is going to happen in 2018?
Well lets just discuss...
Have you ever been to a party and a doctor was there. People are always asking for medical advice. You have heard it before. Hey Doc, my right leg has been hurting.....
It is just a professional hazard for a doctor. Every profession has them. Attorneys get asked about legal advice at parties, interior designers get asked for paint colour tips, investment brokers get asked for the next stock tip. And it is true for Real Estate Agents too.
I get asked, "how is the market" "you busy" "what is the changes with the new mortgage rules"???-what do you think?
I try to answer these questions and I am pleased that people think enough about my opinion to ask for it.
But what always makes me stumble is when I get asked to predict the future.
"should I wait until the spring to sell my house?" or " what is the new mortgage rules going to do to next years market?'
I don't know. I just don't. So I ask do you want to move in May? Then I say list a few months before.
How can one really answer these question about the future. Can anyone really tell us with authority? Who really seen what was coming in the spring of 2017 to that madness? or the crash of 2007?
I can only make predictions based on the current market and the past market. That is about it: anything in the future would be pure conjecture. I do not know how to operate my crystal ball.
My best advice to anyone is to create a goal, follow a plan and stop trying to time the market. The market can be strong in the winter,spring, summer and fall. The market can be poor in the winter, spring, summer and fall. Just make the goal and move forward. Things happen that we can neither control nor predict.
The next time someone asks me to predict the future of the housing market, I may slap down some tarot cards and give it a go. Could be fun!