The big question we all want to know is “What is happening in the real estate market?” The answer is “Which ‘what’ are you referring to?” If you live in
Are Things Looking Up?
Dated: May 6 2022
Are Things Looking Up?
More specifically, are you looking up?
Andrew Huberman a Professor of Neurobiology at Stanford School of Medicine says that “when you get tired, your eyelids close and when you are alert your eyes are open”.
No college degree needed for that observation, right?
What happens when we get tired? He says “our eyelids close and our chin moves down”.
He contrasts that with what happens when we are wide awake “our eyelids are open all the way and our chin happens to be up”.
He goes on to explain that if we are feeling tired, just by looking up (even at the ceiling if inside) with our eyes wide open for 10-15 seconds we create a “wakefulness signal for the brain” and we become more alert.
So maybe there is some science to the old saying “Chin Up”, at least as long as your eyes are wide open too. We become more alert and as we become more alert we just might have more energy to face our day.
I think this has a number of applications to those thinking of selling and/or buying real estate.
Chin up, eyes wide open, stay alert!
If you currently own a home then what the market does is interesting but until you want to sell or refinance, you are sitting on the sidelines and not feeling the dramatic impact of changing interest rates and home values.
On the other hand if you are wanting to buy a home, whether your first home or a replacement home, then I would say chin up, be encouraged as inventory is slowly creeping up.
Keep your eyes wide open. Interest rates jumped up in the last week but then I just saw a slight easing.
There are a number of loan products that are coming back such as adjustable rate loans or even loans that are fixed rate for 5,7 or 10 years.
Some sellers are even starting to consider contingent offers where they agree to sell to you subject to your home selling.
For those sellers not willing to wait for you to sell your home first, there are Home Equity Lines of Credit and Bridge Loan programs available.
Here is to a great day! Chin Up. Eyes wide open. Staying alert to the possibilities before you!
I have had the privilege of helping buyers and sellers in both Oregon and Washington for over twenty years. My wife Patti is licensed in Oregon as that is the state she was born in. Technology i....