Buyers and Sellers face a Juggling Act in this Real Estate Market
October 28, 2008
The most common question out in the real estate community is “When are we going to see this market turn-around?” Good question.
At Loan Mitigation Advocates, we monitor the various media sources and do diligent research daily. The flip-flopping of opinions that occurs on this issue is prevalent. One day, reports claim that the market is doomed for the next few years, and the following day information appears that indicates a recovery will ensue. The bottom line is that there are too many dynamic factors to make a case for either side at this time.
Our prediction unease is market-dependent and well-founded. No one does have a crystal ball. Especially not now. In our opinion, there are too many other kinds of balls up in the air. Government intervention. Interest rates. Bank takeovers. Consumer confidence. The jobless rate. The presidential election. Too many balls in the air.
If you are now considering selling and/or purchasing a home, don’t get caught up in only what the media is saying. Your primary focus should be on understanding your own motivation and your personal situation. Do you need to sell your home now? Are you currently renting and your lease is about to expire? Are you hoping to be close to a certain freeway to reduce your commute? Do you want to get settled near a certain school or in a certain school district before your child reaches school-age? Do you want to retire somewhere else? Are you being relocated? These things matter.
We would argue that what truly matters the most in the timing of real estate transactions is what matters inside your home, inside your heart. Clearly defining your justification for selling and/or purchasing a home will help you make (or not make) a move in any market environment. Of course, exact timing of a purchase or a sale could possibly return you more or less money. But, in the end no one has a crystal ball and being happily settled in your home and your decisions means a few less balls up in the air for you.
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Everyday, struggling homeowners call foreclosure and loan mitigation hotlines for help on how to save their homes. This is just a small sample of a larger problem. Foreclosures, short sales, adjustable mortgages, and financial or personal hardship have wreaked havoc in the marketplace. The need for loan mitigation is paramount.
At Loan Mitigation Advocatessm, we encourage homeowners to try and resolve their situation themselves. In many cases, the homeowner realizes the complexity of the situation and that they do not have the time, connections within the lending industry or negotiation power. This is where many homeowners turn to a loan mitigation advocate. The hiring of a specialist to handle the process from start to finish can ease an already stressed situation, reaping benefits long into the future, and most importantly, help you, the homeowner, stay in your home.
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