Don't be fooled ...

Although my intent has always been to provide significant daily updates about the real estate world in Pierce County, Washington, thus far there have been way too many distractions. For this I apologize. However, I’ve had more projects and clients which required my immediate attention. In other words, being busy has been a good thing for me.

As to the real estate world in Pierce County, it seems to be in a conundrum; interest rates are at the lowest point in months and there is a great inventory of well priced new and used homes. Yet many buyers have positioned themselves firmly and squarely on the fence. Content to see if the bubble bursts or the bottom falls.

Sorry folks, I hate to burst your bubble but that fence you’re sitting on will likely fall before anything else will. Plainly and simply put, the real estate market is too important to our overall economy to let it continue to falter. I believe that, since Reagan’s Presidency, where he inherited double digit inflation with excessive interest rates, you could make a great case that our entire economy is being controlled; like hot water coming from a facet. If it gets too hot, someone has been there to cool it down. And when it’s too cold, someone has been there, monitoring it carefully, to help heat it. So it’s always the right temperature. I believe the same will happen with our real estate market.

Now realize, what’s happening here in Pierce County isn’t at all comparable with what is happening in other parts of the country. So don’t get caught up in all the hype. Our economy is still good. Employment is still good. And we have ever reason to remain confident in ourselves and our work product.

But for those of you who are still fence sitters, here’s my sense of a likely and logical scenario. One day, without any warning at all, you’ll awake and find that the whole scope of the real estate market has changed and prices have returned to normal expected levels. While those levels may not be as high as had occurred in the past several years, they will return. And all of those great prices that you were content to watch are no longer available. Interest rates might even be higher.

If you continue to hesitate, you will surely wake up and find you missed an excellent opportunity. All in all, now is a great time to purchase a home or an investment property.