Are You Waiting Until After the Election… Why?

Today, I want to address something that I’ve talked about in several different ways, but it recently occurred to me that I should mention it from a different perspective. What are you waiting for to buy a house?

Sometimes It Doesn’t Turn Out As Planned

Before last week’s Fed Meeting, I talked to a bunch of people who said they were waiting until after the meeting because they were hopeful that rates would drop. Here’s what happened: everyone waited, The Fed dropped rates by half a point. Now, mortgage rates are currently higher than they were before the meeting.

So, these people waited for The Fed meeting, but it didn’t really have the desired effect.

Why You Shouldn’t Wait for the Election

The other thing I’ve been hearing lately (and I know I will continue to hear) is that people are waiting for the election.

I can understand that if a certain candidate wins and you want to move away because of the election results, then that might be a reasonable motivation to wait to buy a home.

But if you really need to buy a house in the next few months, then let’s sit down and discuss a real strategy to help you out.

History Shows That Elections Don’t Have As Big of an Impact

There are a few things that should be noted (and I did a whole video on this awhile ago). I looked back at history dating as far as the Carter era, looking at when Republican vs. Democratic candidates stepped into office and what happens with interest rates. I couldn’t find any meaningful correlation with any of that stuff at all.

Then, the other thing to consider is that you have no idea who is going to win. What if prices take off and rates don’t come down after the election?

Looking at Your Strategy From A Different Perspective

I understand indecision can often stop people in their tracks. To say this election is filled with indecision is a gross understatement. It’s not ridiculous to be thinking about that.

But I want to point out that if you are waiting for the election before making a move in the real estate industry, maybe it’s time to find a few trigger points that are more tangible and objective. This approach gives a more solid plan. For example, if THIS happens (with interest rates, prices, etc), then I am ready to move forward.

If you are sitting on the fence and can’t work out when it’s the right time to jump in, then I would love to have the opportunity to have a chat with you. Contact me anytime!