You Can’t Make Me!
You can’t make anybody do anything they don’t want to do. If you’ve ever had a toddler or a teen, a sibling, a parent or friend, if you’ve been married or had the crazy ex crashing ‘temporarily’ in the basement you know this is true. Some things you just have to want to do, like diet… or… go out with this guy.
Even when what you want to do is what you’d like to do, what you should do, nobody can make you do it. Knowing that smoking is bad and vegetables are good has little bearing on our choice to do one and avoid the other. Doing the good thing actually doubles its positive effect as it tends to steer us away from the bad thing, though I do know some smokers who eat their broccoli. When it comes to other people, nothing is accomplished by force, even if it’s “well-meaning”.
I see this daily as a Realtor. Even though eating broccoli and buying a house are both good ideas to insure a healthy future, no matter how marketing I do on a listing or how market data I present to a buyer, I cannot make someone purchase a home. The Denver market is stable; prices have been slashed from their 2006 highs, leveled out and are slightly up for the first half of the year. More of cool neighborhoods, the ones you were priced out of in the bubble? Well, they’ve become affordable. In short, EVERYTHING IS ON SALE! Including the money.
So why aren’t buyers jumping? Because no one can make you do anything. If you are worried about your job, you may be afraid of transferring your low-interest savings account or CD into a down payment on a home, I get that. Cash on hand is a good thing, in fact I recommend it, but what is your return over the next ten years? Spending money every month on rent and passing an opportunity to invest in yourself makes as much sense as smoking broccoli. Smart buyers are building wealth by paying themselves first and getting more house for their money. Buy and hold and fix ‘n flip investment strategies are helping clients create cash flow.
Even as Irene raged to ravish the East Coast, many chose to stay put and ride it out. Is that the right strategy for you in today’s economy? How will you feel in five or ten years knowing you missed best real estate market for home buyers in your lifetime?