Is Real Estate All About the Numbers?
As a real estate professional, I work with my colleagues to analyze all aspects of the business every week. Generally, we are trying to answer common questions like these: Is it a good time to buy or sell? Where are there opportunities in our market? What information is most important, right now?
We pore over the numbers asking ourselves how we can best help our clients “time” the market and make the most advantageous investments possible. When is the right moment to sell your home? When is the perfect time to buy your next home?
Well, I personally have a whole new perspective on all of this analysis.
Fortunately, my brother is moving from Texas to be closer to me and my mother. At the same time, our daughter and her husband are considering moving closer to us as well. This adds something new to the equation: Emotion. My brother is selling his house right now, which in this market can be challenging. Both he and my daughter are looking for just the “right” house which is also not an easy task with the inventory levels being so low.
After 20+ years in real estate, I have come to realize this: Yes, the numerical analysis of data is very important, but at the end of the day, the thing that really matters is what feels right for you at the moment. I am not suggesting that you ignore the numbers, but what I am suggesting is that the numbers may not be the most important factor in making your real estate decisions.
Being close to family, friends and quality of life is something worth considering. Being in the right home, in the right location, can offer all of this.
With this consideration, the “perfect” time to buy or sell is now for my family. The details don’t matter as much anymore—no matter what the market or interest rates are doing, we know we will find a strategy for each of our family members to make the best of the current market conditions.
We talk about this kind of stuff all the time with real estate agents and clients. We talk about making the best decision at the right time for you, no matter what the market is doing. But I have to admit that it hits differently now that I’m living it firsthand. I am finding that a home's value is much more than what we work out on the spreadsheet.
Are you living the life you want to live? Are you living close to the people you care for most? At the end of the day, regardless of what is happening in the real estate market, these things matter most. And there are always ways to strategize your next real estate move.
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