Like bears hibernating in the winter, Americans tend to slow or even stop economic activity during certain times. By the time this is published, the election will be over and (hopefully) settled. For some reason, people think that the election is a huge turning point, and they must stop everything until it's figured out.
In the meantime, savvy real estate investors see deals everywhere. Prices are at their lowest point since April 2022. Once the election is over, buyers will come out of hibernation, eager to purchase and reap the rewards of an appreciating real estate market.
Historically, real estate has always increased in value. If you hold onto it through the valleys, you will eventually make a profit. If you buy during a valley, you're even more likely to reap rewards.
The current economy is in a real estate valley or dip, not seen since late 2007 during the subprime mortgage crash. Prices have dropped, and sellers are beginning to realize that their desired prices aren’t realistic. Once real estate prices have adjusted to their actual value, property values start rising again.
The average person will look to buy when everyone else does. That Black Friday TV deal may not be cheap, but when people rush to grab one, even courteous shoppers can become frantic. It’s the same in real estate—a frenzy creates buyers who fear missing out.
Smart investors always look to buy when no one else is. A lack of buyers puts downward pressure on prices and allows for more favorable terms and concessions. Some local real estate brokers say they’ve never seen a better buying opportunity than now.
Sure, interest rates might be higher than the days of 2.75% mortgages, but with prices so low, you can still secure a payment similar to what you would have had when rates were at their lowest.
The term "keep your powder dry" means conserving your resources for future use. Knowing when to expend those resources is key, and you don’t want to be sitting on money waiting to invest while prices skyrocket. You could miss one of the greatest buying opportunities of your lifetime. In a few years, you’ll look like a genius to those who kept their powder dry out of fear. No one ever made money by being scared. Fortune favors the bold. Every time.
About Dripping Springs Elite Real Estate Professionals
Dripping Springs Elite is NOT a brokerage. We are a professional organization of top real estate agents in the Dripping Springs area from different brokerages who collaborate and work together to make buying and selling the best we can be for our clients. DS Elite is also dedicated to building up our community and its nonprofits to strengthen the quality of life for all residents. Contact one of our agents today!