The JUNE FRESH Report is IN!
HAR released the June Fresh Report this last week.
List prices are still hanging on. We appear to be moving into a period of stability. We have now seen this average list price hang out right around 430-440K for almost 6 months now. Rising interest rates definitely put a halt on the rocket ship trajectory in pricing, but it doesn't appear to have caused the market to crater. I believe the next couple years is the time to acquire properties before the next upward cycle.
Which brings me to an interesting point about Real Estate investing. If you pay close attention, you will find that that any given moment almost never feels like the "right" time to buy Real Estate.
Everyone always finds something to be bothered about. If the interest rates are crazy low, there's tons of competition and its frustrating to have to bid over list price...if the competition is lower, the rates are terrible and the cash flow doesn't look as good.
The bottom line is, the longer I talk to people about Real Estate, the more and more I hear about how happy they were they bought something 20 years ago, or they are lamenting and wishing they hadn't sold that one property.
THIS IS A LONG TERM GAME.
Everyone everywhere is always looking at the now...
but people that win with Real Estate investing
think in 20-30 year blocks of time.
Thats why the most timeless
Real Estate advice is truly the following:
Don't wait to buy Real Estate.
Buy Real Estate and wait.
Please call our team anytime if you've got questions about the market or if you'd like to have any kind
of Real Estate conversation.