01/26/2023
“Haste Makes Waste” is a proverb that’s been in use for hundreds of years. You know the meaning: “Haste makes waste” means rushing into action without thinking it through; the results are often not very good and end up costing more time and money than if one had taken the time to think things through beforehand.
Sadly, this is an apt description of a growing number of homebuyers who purchased a home during the pandemic. The housing market nationwide was in a frenzy, and Staunton, Waynesboro, and Augusta County was no exception. A large crop of unhappy homeowners are emerging after now settling into the home they bought (perhaps in a bidding war with other potential buyers) during this latest market.
Now, after a few months, and without having done neither a home inspection nor an appraisal, they find themselves in a home they really aren’t happy with, for one reason or another. Additionally, some families have been hit by the economy with a job loss or career re-focus after they purchased, and can no longer afford the one they rushed into buying.
What’s my recommendation? The market is VERY slowly trending away from the frenzied seller’s market. If you find yourself in one of the situations I’ve described, begin interviewing REALTORS®. Please, please, please don’t just list your house for sale with your uncle or niece who just got into real estate! Thousands of dollars and your family’s future are at stake.
Sit down with experienced agents. Tell them your goals. Ask them for options. Maybe selling while you can still get top dollar, and renting for a couple of years makes sense. Maybe selling and doing more due diligence when buying another home is the right path. Whatever you do, hire an expert. You wouldn’t want a rookie cardiologist making you his/her first patient, would you? Why is this any different?
Kevin Lacey and the Lacey Real Estate Group has been working with buyers and sellers for over 30 years in our area, Kevin and his agents are equipped with the experience to handle any market condition. Additionally, if you find yourself in an economic pinch, Kevin Lacey BUYS HOUSES. Call him (540)294-1701 for free advice or selling options.
