I’ve been hearing this for years. It’s everywhere, in reading articles and different information pieces and different content marketing shared in a variety of places. They all say that same kind of things:
They are going to buy when they find the house they like at a reasonable price with an affordable mortgage. Whatever the case may be at any given time. The message being pounded into the consumer’s head is that NOW is always the time. Now is the time to sell your house because the market has never been hotter than it is right now. Interest rates have never been lower. On and on, but it’s all the same. It’s like the boy who cried wolf. The interest rate hook has been going on for over two years now. Sure, they are down, but they are not where they were three or four years ago and probably are not where they will be three or four years from now. The message that we pass to consumers when we tell them that it’s the time for them to buy or sell is really a determination that varies depending on the particular person and their particular circumstances. In all honesty, the best time to buy or sell is when it makes the most sense to the consumer. They are going to buy when they find the house they like at a reasonable price with an affordable mortgage. It does not really make much difference what the rate is today or tomorrow because it fluctuates daily.
The same thing goes for a seller. If they can put their house on the market and sell it within a set period of time, for a set price, and know that they can close, then they will sell it. That’s really all there is to it. We can’t coerce buyers and sellers by superfluous jargon. Don’t let yourself get into these gimmicky sales tactics. If a consumer likes a certain house or area for a certain price with taxes and interest and everything at a level with which they are comfortable, then they will buy regardless of interest rates and everything else. They have their price in mind and if they can achieve that price, then they will purchase, plain and simple. The economic factors are just noise in the background. If a seller can get the $350,000 that they are asking for and can have it under contract in sixty days, and have a house already available to purchase and move into, then yes, they will sell it. If not, they won’t sell it. Cut and dry. Economic factors won’t affect their decision and they should not affect their decision. Stop using the used car salesman scare tactics. An agent helps determine what and when a client is going to buy or sell based upon the client’s individual needs, not based on economic coercion.