In an era dominated by an abundance of information, media headlines have been playing a significant role in shaping our perceptions and influencing our decisions. One area where contradictory and confusing headlines seem to prevail is the realm of real estate.
We are getting bombarded with news headlines stating "Real Estate Prices Soaring to New Heights!" with contradicting headlines saying "Impending Real Estate Bubble Burst!" Is now a good or bad time to buy? That, is a question you must ask yourself by zooming out, real estate is known for its cyclical nature, influenced by various factors such as economic conditions, interest rates, housing supply and demand, and government policies. These fluctuations are a constant.
In the age of clickbait and attention-grabbing news, media outlets are often driven by the need to generate views, traffic and engagement. Sensational headlines tend to attract more readers, even if the content fails to live up to the dramatic proclamation. Opposing statements can leave us all confused and unsure about whether you should take the plunge or hold off.
I feel that I have a unique perspective because I work in two different markets, one being a town on track to be more of a city (Bend, OR) while the other is a thriving resort community (Hood River, OR). Both markets, while very different in the nature of the market condition, are both experiencing price reductions and bidding wars, go figure! Some homes are overpriced when they first hit the market while others are in a highly desirable area and priced competitively. This is coupled with the Fed continuing to increase interest rates attempting to slow the economy, they are not having much luck which is why we expect to see more interest rate hikes before a dip.
I believe whole heartedly that the best time to buy real estate is when YOU are ready. Right now might be that time for some of you, it was for me, so I bought one! I was casually looking, scrolling RealScout on a Saturday night, as you do... when I scrolled past one that I had seen about a month ago... to my surprise, it was still on the market! It was meant to be, I saw it less than 12 hours later, I walked in and immediately knew it was the one. The market is constantly changing so if you are curious to start your real estate investing journey, learn the market or just discuss your thoughts, I am always available!
