What we don’t know, we often invent. Here are some statements I’ve heard recently, which may contain partial truths, and yet, not the full picture of the Cherokee County real estate market. Have you thought or wondered some of these same things?
- “Interest rates are climbing, I need to sell now before I lose everything in a market crash!”
- “Prices are so inflated! I will just wait for a market crash to buy a home for a reasonable price.”
- “This is still a seller’s market, so I can price my home however I want and get it!”
- “There’s nothing for sale that I want in this market.”
With so many competing viewpoints, it can be hard to make a decision in a changing market. We’ve seen various news stories about the scare of a market crash, rising interest rates and, of course, the inflated market everywhere. I dug deep, researching with experts in the real estate industry, to understand where we are headed. To be an expert in any field, I must be able to anticipate and understand projected changes, long before they happen. This is how I can best advise with confidence, and see true success.
The big picture for Cherokee County real estate is the market is not crashing, it is softening. But, what does this mean? Although it is still a sellers market, it is not the same one that requires such radical sacrifice in order to have success. This means buyers are able to make requests, and sellers are able to make compromises while still creating a win on both sides – with the right agent.
Rising interest rates did knock some buyers out of the market, but many still remain. The rising rates adjusted monthly payments and, with that, caused many to shift their original price point. Alternatively, many buyers now are able to negotiate the price of a home, something that has not existed in the last two years in the Cherokee County real estate market.
Partnered with a trusted real estate expert, you truly can succeed as a buyer or seller in any market. The trick is all about being fully informed on your current position and the market around you, as well as having a clear road map to where you want to be.
– Erin Wilson, co-owner and Realtor with Ursula & Associates at Keller Williams Realty Partners, has served as a CEO, business coach and client consultant for more than 17 years.