The Biggest Problem In Real Estate...

...Might just be a combination of things

Whether its high prices, interest rates, or the homes available

It's Increasingly hard for 1st time home buyers to enter the market

and move up buyers are feeling the cost outweighs the benefit

die to the lack of available homes in the most sought after areas

combine that with affordable housing typically needing repairs and renovation

where those buyers don't have the extra money for after the closing

the majority of the buyers in the market is sitting on the sidelines

Interest rates are in a range very close to the historical average

and many would be home sellers are hesitant to give up the low rates

that they were able to obtain when the purchased the homes

economic uncertainty has many people unwilling to make any big decisions

until they have more clarity on the direction of the market

the gridlock is real and many people feel "stuck"

and yet somehow, there is competition for many homes when they hit the market

stay with me on this...

when the right home finally becomes available

where the location, price, and property condition shows up

it unlocks a segment of buyers that will be attracted to these homes

its also likely, that a lot of "pent up demand buyers" will make offers

which only further frustrates that group as only 1 buyer will get that home

the same can be said homes in the affordable housing areas...

home builders are slowing down new home starts

and allowing their inventory to decrease

so there is a possibility of a new homes shortage somewhere down the road

so what needs to take place for the market to get moving forward ?

buyers will have to accept the fact the its completely unlikely

that home prices AND interest rates will come down

interest rates appear to be the one of those 2 things to decrease this year

and with that I would anticipate that home prices will continue their long upward trend

could it actually be that the real "biggest problem" in real estate

is none of the many things discussed so far?

I would suggest that its definitely something different

The Biggest Problem is NAVIGATION

Finding a way to navigate the labyrinth of things discussed in today's show

requires a road map, or better yet -

a guide to get you though it all to safely arrive where you want to be