Today's buyer is facing a conundrum of epic proportions. It is obvious to most that in many areas of Southern California, prices have flattened out. Luxury sales have slowed dramatically. And, all indicators are that sometime in the near future, we will see a slight adjustment in home values.
For that reason, many buyers are thinking that the wise move would be to hold off their purchase. And, most likely get the home they want for less money. And, it is true that historically this would have been a good strategy to employ. Today, I am not so sure.
In fact, I am telling my friends and family that today, may be the very best time to buy. That there may not be better time to purchase in their lifetime. Let me explain.
While it is true that home values are at near record highs for most of the South-land. It is also true that interest rates are still in the high three percent range for a thirty year fixed rate mortgage. And while property values may drop slightly sometime in the next …
For most of my career Real Estate Professionals have been locked out of certain market areas. My first experience with this was when a neighboring association left our local MLS to join another MLS provider. Agents in our association no longer had access to the data from the community on our Eastern Borders. Likewise, their agents could not access ours.
To be perfectly blunt it was a catastrophe. And, it had nothing to do with the technology. It simply was a matter of politics. It soon became apparent that for the good of the membership we had to change MLS providers and do so quickly.
Today we are at a similar crossroad. Many local MLS providers have elected to prevent access to their data to anyone who is not a subscriber to their services. Set aside for a moment that this might just walk, talk and smell like a violation of our Code of Ethics ("Cooperate With Other Brokers"). This also does a disservice to the general public. Let me explain. Say that I am a seller in the c…