They always say, "there's no time like the present," but how does that apply to real estate today?

Well, looking at your present situation and making plans of action to get where you want to go is essential, and the longer you wait, the longer it will take for you to see progress towards your goals! 

This specifically applies to real estate transactions considering how most folks these days need to borrow money from a bank to buy the house and they don't just have half a million dollars cash laying around. The first step then is to speak with a lender. You don't need to commit to anything, just start the conversation and see if you'll have some work to do such as improving your credit score or saving more money for your down payment and closing costs. These are targets that you can hit and adjust as necessary. And if you wait to have this conversation until you feel ready to buy, you may be adding months onto your preparation stage in the home buying process. 

Once you're ready to buy, both emotionally and physically, meaning you feel good about the decision you're making and your finances can support the decision you've made, all that's left is finding the house! That's the easy part. 

The housing market is like an ocean wave, meeting our rocky bay area shorelines, (well--some sandy ones if you know where to look).

Inventory goes low, demand for houses goes up!

Inventory goes high, speed of sales may change. 

COVID-19 Pandemic Shelter-In-Place causes a RUKUS! What now?

Is it a buyer's market? Is it a seller's market? Do I care who's market it is?

No, you shouldn't focus too much on those labels on the market. The housing market is the housing market. There are many moving parts that are involved--but don't stress out.

Remember: All we have is today, right now, this very moment. If a house you want is not available for you to buy, or if you're trying to sell a house that just isn't selling, that can means one of two things:

• • 1. The buyer may be shopping for champagne on a beer budget, and is rejecting perfectly good properties that could have been their new home.

    2. The seller has listed the property for a value that someone is not willing to pay for--if it's overpriced it simply won't sell. (Given we aren't seeing too much of that these days, but you'd be surprised that there are over 10 homes listed for sale in Contra Costa County that have been active for over 100 days! I'm sure there are many reasons why they're still there, but...I mean obviously no one has purchased them at their listing price...)

  • What Can You Do? 

  • Regulate yourself. Manage your realities, do your homework. Know thy self. 

• • • What can you afford? Down payment? Monthly payment? Costs for repairs or updates to a new property?

    • Where can you live? What is important for you to live near? The ocean? Wine country? Your work? Your social club? Your child's school? How far are you willing to drive on a daily basis?

    • Can you adjust your lifestyle so you can meet an expectation set by yourself for a short timeline? Do you have to buy right now? How long can you afford to wait to find the perfect house?

    • Are you looking for a starter home or a forever home? Are you planning on flipping? Are you planning on renting it out in a few years? Are you buying today with the expected appreciation to cover your next down payment of your new house you intend to buy in a few years?

Now take all of those realities and take a few moments to dream a bit...

• • • Does this house have good bones that I can work with to create my forever home over time?

    • Is this neighborhood something I am familiar with and can appreciate being part of on a daily basis? Block parties? Barbeques with neighbors? Kids next-door for my kids to play with at the park around the corner?

    • Is this house a canvas for me to fill with my heart, passion, family, and love? "Home is where the heart is". Could this place grow on me?

  • P.S. What do others have to say about buying or selling right now? Check out what BankRate has to say: https://www.bankrate.com/real-estate/should-i-sell-my-house-now-or-wait/#recession