Saw this on her Instagram @tingconway. I follow her because she post weekly housing data in Bay Area. Here’s excerpt from latest: You might have been experiencing the slowdown of the market. It is not because of the economy, but mainly because people have been on summer vacation. Competition might slow down a bit, which means offer number on one property is a bit lower than before. It is still seller's market, less inventory, high demand. For buyers, it is still a great time to buy with record low mortgage rates. Heads up #1, rate might go up by the end of the year; Heads up #2, Summer is coming to an end. Buyers are back. There might be another HOT market wave.
Bruh, realtors mantra is always “if you’re a seller, best time to sell is now you can leverage your equity and cash out with sale. If you are a buyer, the best time to buy is now with record low interest rates and prices will keep climbing”. Remember, realtors have no such fiduciary responsibility. They get paid with either selling or buying. Most clients don’t use the same realtor for more than 1-2 transactions.
The whole realty agent setup is a sham and only available due to the obscene lobbying they did/do. There's no way to have a fiduciary duty with the kind of conflicting interests they have. I bought our house without an agent from the owner directly. Best transaction imo. Less stress, good comms and low uncertainty during the whole process. And the negotiation was awesome and both of us left the deal happily.
How did you find them? Was it a fsbo listing?
The best time to buy is yesterday. The second best time is now!!! 🤡
Anyone who has paid attention to the full market cycle year over year knows this. Only buyers who only poke their head out in the spring and late summer think the correction is happening every single late summer. It’s not. It’s actually the best time to be a buyer to capitalize on the late season FOMO sellers. Fall and winter are good to buy, but supply is shit. I say this every year but the buyers see a price drop and then retreat thinking they’ll time the bottom only to see prices jump higher again in the spring. 🤦♂️ I used to be one of these clueless buyers. Don’t make the same mistake year after year.
So the best months to buy are August through Jan?
From a buyers perspective
The market is usually hottest between Spring and Summer because people don’t want to move their kids in the middle of the school year
Agree
If you really need a house, and you have the means, the best deal is today, waiting is just not going to magically change things, it's an attitude issue, even if the market started falling, the people who are hesitant will keep waiting for lower bottoms until they miss that opportunity as well.
No realtor will ever ask buyers to wait till market cools down. If they do, they will be losing out on their income. If you are wise, you will wait
WHY would you pay attention to realtor? Is it obvious their paycheck depends on people buying homes? WHY don’t you understand the conflict of interest? That the realtor interest doesn’t align with you
If you are targeting only one particular neighborhood then the best time to buy is when a home that you like comes on the market. Don’t time the market, the whole of December might go with 1 or 2 listings that you may not be interested in.
This is so true. I was very selective and went through fall/winter seeing less than 10 houses and most of them sucked bad. And then end up buying for 20% higher in spring 🤦♂️
Ofc brokers will push people to buy. “Market is hot! Time to buy a house before you’re priced out” “Market is low! Time to buy your house”
Exactly!… FOMO all time!