Why My NW WI Clients Still Need to Buy and Sell Real Estate
Last time I wrote about some of the basic precautions I’m taking to keep me and my clients safe. Today I’d like to answer this question: Why is anyone even thinking about real estate at a time like this?
Every buyer and seller’s circumstances are different. But in general, here are some of the typical reasons real estate transactions are continuing.
- Sellers are aging out and moving closer to family or healthcare. This is a major, long-term demographic trend in our northwest Wisconsin lake home and cabin market.
- Sellers are downsizing or making other life changes. In some cases, for example, they’re deciding to make that wintertime getaway in Florida or Arizona their primary home.
- Sellers are moving because of their employment situation. They simply need to be close to their new job.
- In a hundred other variations, sellers have decided it’s time to move on to the next stage of their lives. When it’s time, it’s time, and there’s little to be gained by putting it off for a year or two.
- Interest rates may vary by the time you read this, but right now they’re pretty much at record lows. For buyers who were already thinking seriously about a lake home or cabin in northwest Wisconsin, now is an especially good time to buy.
- Some buyers have pulled money from riskier investments and are looking for a safe, solid place to put it—like maybe that lake home or cabin they’ve always wanted anyway.
- Other buyers see a lake home or cabin as a long-term investment strategy, one that might involve renovations, extra income through a vacation rental program, and still opportunities to enjoy the up-north experience themselves.
- Like sellers, some buyers are moving because of their employment situation. They simply need to be close to their new job.
- As with sellers, there are a hundred other variations on these stories. And when buyers decide it’s time to stop putting off that dream of a lake home or cabin up north, who am I to argue with them?
The bottom line: Even in times like these, life goes on. So if you’re interested in selling or buying real estate here in northwest Wisconsin, please give me a call.