As real estate professionals, we have to run in 2 lanes. We have to be on top of the market data, but also be in touch with humanity enough to know that the numbers don’t make up the whole puzzle when it comes to a transaction.
The numbers on paper and computer screens don’t always translate to what’s happening on the ground – market reports could say that things are balanced, when in reality, buyers have more leverage over sellers. Additionally, the numbers don’t apply to the specific situation of the client in front of us.
The data is important, but it’s meaningless without the human piece, and the life events and factors that drive them to make a move. The question of whether or not this is a good time to buy and sell is an incomplete one. We always have to bring it back to the specific person we’re helping, and what they are trying to accomplish. That’s how we map the way forward and steer people in the right direction for them. Matt Long believes that our focus needs to be on the right decision for the client injected with market data.
In this episode, he talks about Legend Trail and how he’s coaching buyers and sellers through the real estate process right now.
You’ll also learn;
- Why the market isn’t quite fully balanced yet
- How to become a hyperlocal expert in minutes
- Why market stats mean less if you’re moving within the same city
- The mistake that makes real estate more stressful than it needs to be
- How work-from-home impacted outlier cities
- Why the freeway is a critical part of a real estate decision
Key Points
Where the market stands today
The market isn’t quite balanced yet – market reports might say it is, but in reality, buyer’s have a lot more leverage over sellers now, and it makes sense. Inventory has risen by well over 13,000 homes, and buyers have a larger offering of homes to choose from.
Even though the market is great for buyers, many people are still on the fence. If you think you want to buy next year, it’s wise to get on the MLS now to see what’s going on. It will give you a clear indication of what you can expect, and you might discover that this might be a better window to buy a home than you thought. It’s a good idea to start on the process of buying a home now before investors and hedge funds start ramping up again. Once they return to their usual buying activity, inventory will be impacted to the detriment of buyers.
One of the key things Matt does with a new client is to catch them up with where the market is now. Because the market changed quite quickly many people are entering the market with outdated information and expectations. Clearing the air from the beginning just makes everything smoother.
The market data doesn’t matter as much if you’re moving within the same market. The buy and sell side of the transaction are going to cancel each other out – you might benefit when selling your home but then find yourself in the trenches when buying and vice versa. Getting caught up in the minutiae of the exact amounts of money could be a waste of time – it all washes out at the end of the transaction.
Legend Trail: a hidden gem
Legend Trail is one of Matt’s favorite neighborhoods. The highlight of this area is a pristine desert vista on the way into the community, and a lot of the homes on the market are on the golf course.
One of the lesser mentioned perks of living in Arizona is just how good our freeway system is. Because of it, you’re never more than 40-minutes away from where you want to be. If you’re buying a home here, the real question is how far away from the freeway you will be because that’s what will determine your commute and ease of movement.
Guest Bio
Matt Long is an agent and owner of 2nd Mile Group. He’s been at this since 2005, and his favorite aspect of being a real estate agent is helping people find that one perfect place to call home in the sea of available properties. To get in touch with Matt send a text to 602-284-3553 or find him on Facebook.
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