When you work with me we become Family! RE/MAX Kansas-Missouri - Marc Edwards

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Fall is here! What does that mean for you and the Real Estate Market

Holiday Fall colors trees background lake with dock

The beginning of fall is here and that also means the 4th quarter. The end of the year, the last 3 months that you can achieve, start or finish any goals that you had planned. The market is shifting, sometimes it could be little changes with the economy and it could mean big changes in the real estate industry. Take covid for example, over night there were big changes. Sometimes the change can be a good change. The change, shift, correction, whatever you want to call it right now is actually good for most depending on how you look at it and if you play your cards correctly. There is 30% more inventory right now if you are looking to buy a home.
Possibly you were wanting to sell you home and were scared due to the lack of inventory and the bidding wars. Now is the time to list and to be able to do that more comfortably than in the start of the year.
These are all things to consider when moving forward and that is why us Real estate professionals say make a plan. Timing is a factor when purchasing real estate.
When you have a big change like the one we are experiencing now it could mean a big loss. Sometimes you are in the middle of a project and the market changes. So when the market changes you change with it to survive and to still make a profit. Multiple exit strategies is the answer to that issue and should be factored in when investing (Buying). I am rehabbing a property right now and looking at the numbers. If I would have done this deal 6-8 months ago this would be a super sweet deal no matter if I decided to sell it or rent it. Now since the change I have run my numbers accordingly and adjust. I can still make a decent income flipping it, But as a rental it may not make since anymore with the increase of the rates. They're other things to consider as well , such as how long will it sit before it sells, are there cost involved with that? How much will it cost you to sell things like that. Hence making a plan for the investment up front. I knew either way I'm good on this deal as I'm a Broker as I can still sell it and make decent profit. 

I have helped many investors purchase and even rehab properties, the seasoned investors know these things before hand but the newbies never ask. You should always ask Is this a good time for me?
Is the market stable enough for me to invest or buy? 
Am I in a good enough situation financially right now to invest or buy? 
These are the questions that should be addressed and an honest real estate professional should give you their professional, honest opinion not just a "yes" due to they are wanting a commission. 

Things that are changing:
Homes sitting a little longer so more days on market
Increase in Rates = Less buyers in the market so less competition
Investors pulling back = less competition 
More days on market = More price reductions There has been 61 price decreases within the last 7 days alone in our Market!!
Sellers listing their homes now still trying to cash in 
Sellers listing their homes now because they can actually breathe on the buyer side once they sell

A good real estate professional will help you make that plan and guide you every step of the way. As an honest professional I tell my clients or potential clients that everyone's situation is different and everyone's goals are different. I am just here to guide you and to assist you in any way form or fashion when that time comes. See my real job is to be a problem solver when it comes to real estate problems! A home owner wants to sell or needs to sell due to a new job, new addition to the family etc.  A family is ready to buy and looking to start a new chapter in their life, when someone is ready to make a move they will.  It's all about TIMING!
When that time comes I'm HERE! 

Marc Edwards
Broker-Salesperson/Consultant at RE/MAX Heritage
Office 816-224-8484
Cell 785-250-8802

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