As with most things in real estate, the answer to “should I buy or sell or stay or rent” depends on your situation.
I read a lot of news and opinion about the real estate market – national, regional, local – as I tend to find reason between the extremes. Generally this reasoning leads to a similar conclusion of “it depends;” today is no different.
One story by folks I read frequently whom I tend to trust identifies 5 Reasons You Should List Your House TODAY! – with reasons ranging from high demand and low inventory to increased new construction to higher interest rates. All of these are true (the amount of new construction in Charlottesville coming online this year in Charlottesville and Albemarle is extraordinary).
Bolster the (all true) with Robert Shiller noting that (an opinion I share) that the optimism we’re seeing needs tempering. There are so many variables that will affect the Charlottesville market – product mix, the huge influx of new apartments complexes, infrastructure, interest rates, jobs – many of these are trending positive. Not to mention how the housing market touches so many facets of our economy.
So … I’m conflicted as well. The market in Charlottesville and Albemarle is picking up right now; what it does in five years is an unknown – all we can do is make the best decisions we can with the best data and facts available. Today.
My advice to my clients, whether they are buying or selling, (sounds silly, I know) starts with listening. Where are they now (in life, jobs, homes), where do they want to be (see previous notes) and where can they get realistically?