Now what?

Let’s reflect on recent history, because it’s the only history that is relevant.

Flush with equity, how do home sellers react when faced with adverse uncertainty?

We have recent experience….Covid-19!

In the first couple of months after that drastic game-changing event began, the local real estate market froze up. Full paralysis.

I told Donna, “I don’t know if we’re going to sell another home this year!”

In 2008, the recent purchasers had little, if any, equity and felt deceived by their exotic financing choices. They hit the panic button in an effort to recoup any equity that was left!

There won’t be any panic today. Homeowners are more comfortable than they were in 2008 and 2020 – and they’re sitting on piles of equity. Some might give their house away, but not many. It’s too easy to wait until “it’s a better time to sell”!

Home sales will likely slow as sellers and agents wonder what to do.

But risk and reward ride the same elevator!

Be Bold. Take Action!

We are used to the chaos, and are numb to it by now. There will be more chaos tomorrow, next week, and for the next 90 days. Might as well get on with those plans for your life!