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Comparing the Next Real Estate Crash to the Last Real Estate Crash

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Right now, in this Seller’s Market, there has never been a better time to sell your home. But, that may not always be the case…

Do you have a crystal ball?  Well, I don’t either.  Right now there has never been a better time to sell your home. But, that may not always be the case.

In fact, I’ve been in the real estate industry for nearly a decade and before I was an agent, I was actively looking to buy a home in 2008 when it was very similar to now, prices were booming, we were seeing multiple offers and bidding wars, buyers were fighting for properties and bidding up the prices so high that they weren’t appraising.  It was almost like overnight we went from having it be a total sellers market to it being a buyers market.

It truly was insane!

We went from having no inventory to having a surplus of inventory. That in conjunction with the bad mortgages caused the real estate market to crash.

We saw a decrease of around 25% here in Chehalis, WA 98532 & Centralia, WA 98531, people were losing their homes left and right.  Now, I do not think that we are going to see that happen, however I do personally feel that there is going to be a softening market near the end of the year and into 2022. Meaning, the increases will be less and less dramatic.

However, if you’re waiting for the market to go down, you’re losing out on thousands of dollars of equity each month. Also, think of this, if you sell your home and you get a surplus of money that you weren’t expecting because the market is so strong, that means you’ll also have more money to purchase a higher priced home.

Also, keep in mind that the higher the price of the home typically the less competition there is.  You’ll still most likely be competing just like the buyers are for the home you’re selling, but if you’re moving up and not down into a different price point, chances are it won’t be as competitive as what you experienced when you sold.

I’m Eren Millam w/ Premiere Property Group.  Make it an extraordinary day!! Oh, Be sure to look out for 4 other videos on why now is the right time to sell and if you’d like to binge watch you can check out our YouTube channel.

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