As I write this article I see changes in so many aspects of our daily lives. We are still not certain how our future looks when we hear of the new variants of Covid continuing to infect people at alarming rates. Will the current vaccines protect us? Will we need new vaccines or booster shots to stay safe? For those of us with school age children, what we thought would be a ‘back to normal’ school year is quickly changing. Masks are now required when just a few weeks ago, the district said masks were optional. Will we be back to on-line learning by Christmas?
The Real Estate market is affected by all these changing factors. The moratorium for renters and landlords has been removed and extended multiple times. In August it was reinstated once more within days of it being lifted. Will the billions of renters and landlords be able to make up for the payments that have been deferred for the past year? Some are predicting a large sell off of property because the landlords are so far behind on payments that their only option will be to sell. Where will all the renters go who will be evicted because they couldn’t make up the back rent? Will homeowners still have the urge to move to more urban communities because they can still work from home? Interest rates are expected to increase by Christmas time. Will the home buyer frenzie still be happening then as well or will things level out?
These changes are all BIG in terms of quality of life: We may face potential lock down or increased restrictions, changes in school guidelines; in person or remote, whether or not we work from home or go back to the office, should we stay in our house or move for a different way of life?
For most of us, our home is our biggest asset. But home is also our sanctuary. This is where we build memories and traditions. Buying or selling a home adds yet another change to your life. If you are feeling compelled to move either by choice or by circumstance, give yourself the time to plan it out. Acting in haste will only increase your stress and potentially influence your decisions in a way that won’t serve you in the long run. First discuss this within your family; prepare them for the move. Then find a trusted expert Realtor that can provide you with statistics, trends and forecasts of what you can do with your Real Estate. Buyers and Sellers can’t just browse through Zillow and make a decision about where they want to live. Hire a professional in your neighborhood that knows more than what the headlines say. There is a lot that we Realtors see happening that could save you time, stress and anxiety on your next move.
As Bob Dylan says, These times, they are a changin’. We can try and do our best to make the most of our lives in spite of these changes and find our sanctuary within our homes with our families.
See you around town,
Janice