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If we’re headed for hard times, are we really?


If we’re headed for hard times, are we really?

It sometimes takes me by surprise when the elderly speak pessimistically about the future when in fact they have outlasted and conquered “hard times”. They are always living proof of the old adage “Tough times never last. Tough people do.” Perhaps by their experience alone they should be optimistic. After all they have been up and down and all around and they are here to share stories and experiences. At the core they are part of a better future as examples and advisors.

I put hard times in quotes because from a Real Estate perspective the hard times, the down cycles are simply those things:times and cycles. In my four decades as a Real Estate Broker I have seen several recessions(depressions even) and several booms. Right now we seem to be at the beginning of what would be an average market as calculated over decades. We have seen the average price go up,over all,since late 2011. We have seen average market times go down, over all, since then too. But looking at the fact that we reached a high price mark in 2015 and a low market time then too, we can say that Real Estate since 2016 has been inconsistent, a bit up and a bit down, good quarters, and not so good quarters through today, the third quarter of 2018. The average time on market of 2-3 months? NORMAL. Prices leveling off or dropping slightly? NORMAL.

So the only consistency that I have found in this industry is that people always need Real Estate advice, education, and guidance and that I am always working to help them. This is an important and necessary part of their lives, if not to a greater extent, their financial health. The market changes and the marketing changes. We ALL will remain consistent…and hopefully be old enough to impart wisdom and optimism.

Thanks,

Craig Fallico
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