Is the Market Crashing? How to Spot Opportunities in Real Estate
August 10, 2024: There seems to be an underlying current in the air these days… Are we in a recession? Will the market crash? Is this a bad time to buy a house? Will I be alright?
Stop. Please stop overthinking. You and I have both seen good times and we have both seen bad times, and we lived to tell about it. While in the background, the largest investors of all came in and scooped up massive deals when prices were low and nobody seemed to be looking. Now I’m no financial advisor, but the buy-low-sell-high strategy seems to work, and it works for this reason: When things are low, people tend to sit still and wait it out. Most are too scared to make a move. This leaves opportunities for people for are willing to see a dip in the market as just that- an opportunity! And later on, many watch from the sidelines wishing they had bought when the prices were X.
It’s been 4 years since the dip in 2020, before the subsequent largest rise in prices (real estate and otherwise) in history; and over 15 years since the massive bank failures and government bailouts in 2008. In both scenarios, the market eventually recovered and many who could hold on eventually saw gains. Yes, it took time, but all good things worth waiting for do.
Yes, we are in a market correction. And there are opportunities out there right NOW. Tons of them. I realize that not everybody can take advantage of a dip, but there are a lot of helpful strategies to help you be prepared when it happens. Keeping your credit score high and minimizing debt are core strategies in any market. Believe it or not, just knowing what you want and setting goals to get there is an incredibly effective way to manifest your dreams. A little strategy goes a long way.
Will the market crash? Maybe. Things tend to come and go in cycles. All I know is if the market does take a temporary dive, I will be ready to help my clients take advantage of as many opportunities as possible.
Jenn Kuenzler, Realtor, Team Price Real Estate
(512) 299-1107
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