Stop Asking What the Market Will Do. Ask This Instead.

People ask me this all the time. “Hey Darren, what do you see going on for the rest of the year in real estate?”

The fact of the matter is, I hate this question. Not because it doesn’t matter, but because it’s a really hard question to answer, and because it’s a very specific question depending on your circumstances. So instead of looking at what the market is going to do over the next six months, I tend to look at what my clients need, what they’re experiencing, and what their individual challenges are.

Here’s what that actually looks like. A couple of weeks ago, I had a client close on their first duplex. Their goal is to build inventory and have some properties for their retirement.

That’s very different from the clients I had last week, who closed on their first house ever. They were super excited about it. They’re just beginning their real estate ownership experience.

Then yesterday, I met with a client who’s hoping to buy their first duplex, but they already have multiple rental properties. Over the next five years, they’re looking to split time between here and Costa Rica. They want a duplex so they can live in half of it and rent out the other half, so when they’re gone three months out of the year, the property isn’t just sitting completely vacant.

Same market, three completely different situations. All of these stories are individualized depending on what the client’s needs are. A market forecast wouldn’t have helped any of them make their decision.

So here’s what I’d ask instead. Rather than asking your local real estate agent what they see going on with the market over the next six months, talk to them about what’s going on in your life over the next six months, and how the real estate market might affect those things for you individually.

That’s the conversation that actually produces something useful. The market is the same for everyone. Your situation is yours.

I’d be more than happy to sit down and chat with you one-on-one based on what your real estate goals are, rather than what’s happening with the market, because that’s pretty generic, and really it’s about what’s impactful to you. Give me a call or text at (541) 852-2565, email me at darren@rickettsgroup.net, or visit blog.rickettsgroup.net. Let’s talk about your goals, not the headlines.