It's late October, we all have fear, scariness, and candy, on our minds. In my daily conversations I find I’m talking about the same things the real estate market.

First, the candy, which seems to have a lot of sour flavors this year. Despite the obnoxious amount of candy my kids have already amassed this year, I can't sugar-coat the current state of the real estate market:

• Inflation is a killer.

• Mortgage rates are terrible.

• Rising home prices suck.

Now, while that is the reality, there’s some very important points to consider.

Market Conditions are a Double-Edged Sword:

While market conditions may seem unfavorable to some, it's crucial to remember that those same conditions make it the ideal time for others. The three “not so sweet” items I listed, are actually pretty sweet for people in certain circumstances.” Just as a rising interest rate might be concerning for buyers, it can be a boon for those who do decide to purchase in a time with relatively lower competition.

The scariness of high home prices can be a source of joy for homeowners looking to sell, as it may lead to favorable returns on their investments. Savvy investors often thrive in times of market turbulence by identifying opportunities where others see obstacles.

Headlines are not an accurate depiction of reality:

It's important to keep in mind that the media sells clicks, views, and readership, not necessarily accurate information.

For that reason, news outlets will run with headlines such as:

“Recession is imminent”

“Wave of Foreclosures coming”

“Housing Market to Collapse in 2024”

As the legendary Zig Ziglar once said, "the media has accurately predicted 10 of the last 3 recessions.” Fear sells, and our reality is that news outlets are primarily in the sales business. But while these stories might get your attention, the content is not always accurate, relevant to your area, or applicable to you at all.

The Personal Timing of Real Estate:

Despite any market conditions, the decision to buy or sell a home is deeply personal and should be guided by your life and household’s circumstances. What might be a time of fear for one family could be the ideal moment for another. Your financial stability, job prospects, family size, and lifestyle goals all play a significant role in determining when the right time to make a move is - and those circumstances many times outweigh trying to time the market.

Learn from the Past:

Considering those elements (double-edged market conditions, fear-in the marketplace, and personal timing), some of the people who benefitted the most in the past few years, were those who made their moves in spring and early summer 2020, including several of my clients. They were the ones who saw an opportunity when others were paralyzed by fear. In the spring and early summer of 2020, during the initial shock of the pandemic, many potential buyers hesitated to enter the market. However, some astute individuals recognized that amidst the chaos, there were excellent opportunities for them. They secured homes at competitive prices and sold to a competitive pool of buyers, and have since seen their investments grow substantially.

Conclusion:

In the world of real estate, fear and scariness are inherent, but they don't need to dictate your actions. The fear of the current real estate market can be mitigated by aligning your real estate decisions with your individual needs and circumstances. Whether you're a first-time homebuyer, looking to upgrade, or considering downsizing, don't let the fear-inducing headlines deter you. Evaluate your own situation and consult with professionals to make a well-informed choice.

Learn from the past, stay informed, and consult with experienced professionals to make the best choices. Don't let fear be the deciding factor in your real estate decisions. In the end, you may find that what seems like a haunted house today could be your dream home tomorrow. Just ask those who seized the opportunity in the uncertain times of 2020; they know that sometimes, the best treats come when others are too afraid to reach for them.

Have a safe and happy Halloween! Go get yourself scared by costumes, movies, haunted attractions, but don’t let fear and headlines needlessly scare you about the real estate market.