Buying and Selling Real Estate With This Financial Turmoil?

Buyers, sellers and investors of real estate are asking us and themselves this week, "What should I do during the financial turmoil we are hearing this week? Here are a few of our thoughts.

Study the markets, interest rates, financing, economic forecasts, inflation, recession and more. Read, listen and ask real estate professionals for their opinions about the local market so that you are prepared to make the right decisions. Surround yourself with reliable experts.

Now is NOT the time to be making emotional decisions. Now is the time to make well-thought out financial decisions.

Our advice is to continue with what you are already doing. There is not a reason to just freeze.

If you are a buyer or investor searching for a residential or commercial property, you can continue your search. Even if you decide not to purchase at this time, at least you have been learning about the real estate that is on the market so you become the expert when the time is right for you. In this market, you might find the ideal property that represents an excellent value proposition and that perfectly meets your needs. If you are able to purchase at a deep discount to market prices, you will limit your downside risk. You're not committed to a financial
transaction until you sign a contract.

If you are a seller, you can keep the property on the market. If you take it off of the market you may miss the ideal buyer. Qualified buyers can still find financing despite what you may be reading or hearing. Yes, the financing is only available to qualified buyers, but that's the way it should have been all along. If you are selling you will need to be realistic about the price you are asking. When pricing your property in a rising market, you want to price ahead of the market. Pricing in a declining market also requires you to price ahead of the market, only on the downside. This way you are keeping ahead of the sellers who represent your competition.

Be smart. Be the expert.

See our website www.ColoradoProRealEstate.com .