It is always a YOU market!

If you’re from the Connecticut area, you’ve probably seen some of these billboards on the highway from Connecticut Realtors (CTR).   It’s part of a campaign aimed at emphasizing the importance of making a real estate move only when it is right for you – and that “right time” can be very different for many people.

I’ll give you a perfect example:  a few weeks ago, a past client of mine reached out to let me know he was considering either renting or selling his condo, since he was being relocated for work.  His desire to rent was based on the fact that he bought at a great price and had since refinanced into a historically low interest rate (2.75%!). 

However, he wasn’t thrilled about the idea of being a landlord, especially one living out of state.  We met in our office, walked him through the pros and cons of each option, including how our property management service works for absentee landlords. 

Ultimately, he opted to rent and to delegate the day-to-day management of his unit to us – very practically solving his “landlord” concern.  This decision was made even though he had a tremendous amount of equity he could’ve walked away with – but he made the informed decision that it was not the right time for him.

Another example: a friend of mine who has been renting for his entire adult life had been putting off buying a home because it was simply not on his list of priorities.  He loved his apartment, his location, his landlord – there was nothing pressing him to move. 

Until his roommate moved out, leaving him with a total rent amount that would’ve likely exceeded a mortgage payment on a comparable unit. 

After an extensive buyer consultation (and, in particular, an explanation on how Connecticut’s “Time to Own” program assists with down payment and closing costs), he decided now was the perfect time to make this move. 

My point is this: don’t get caught up in all the noise about the market.  This is always changing and it does us no good to try to time the market – no one has this crystal ball.  Buy or sell only when you are ready.  And if you have a trusted real estate advisor you can count on for regular market updates, consultations, and advice, then you’ll be just fine. 

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