Why This Market Shouldn't Impact Your Decisions

Certified Mortgage Advisor
NMLS 1701021
Published 
April 19, 2020

Asses your situation, not the market

This market should not be impacting your buying or your selling decision. So the questions that have been coming up a lot in the conversations that have been having with buyers, and I've been hearing, realtors have been having with sellers is should I wait to buy? Should I buy it right now? Should I sell later? Is the market gonna change?

Shaky market means shaky plan

Here's the deal, is if your plan for buying a home for selling a home for moving somewhere else is going to be impacted by external things like changes in rate or a pandemic or, or things that are happening in the market. Then the plan that you have is probably a bit shaky right now.

Plan for the years ahead

So what you really need to do is first decide what's the plan that you want to have for you and your family for right now for three years in the future, for five years in the future, or for 10 years in the future. Then work towards executing that plan.

Emotions vs. Plan

Because the moment that we start being reactive and letting everything else change how we are moving forward in life, that is the moment that things start to derail very quickly. Because we become responsive to our environment. We can see how quickly we become really emotional and make decisions based on our emotions instead of decisions based on a plan that we want to have.

How to avoid anxiety and fear

So the best way to combat the anxiety and the fear that's going on with this market and everything involved is to first say, what, where are we at right now? What are the things that we need to work on? And what are the steps that it's going to take to get there? Then we can see how to do those play into the rest of this market.

Avoid FOMO

But I shouldn't be wanting to purchase a home just because rates are low and I shouldn't want to be selling a home just because home values are higher. So I don't want the market to impact the plan that I have for me and my family moving forward. Same for you, find where you're at right now, where do you want to go? And what are the steps you need to take to make that.

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