How to Get Through a Stressful Housing Market With Less Worry

By Chris Doherty

Christian Doherty lists and sells more homes than any other agent in the Greater Lowell, Massachusetts market with over 300 homes sold in the past 12 months. Chris is ranked in the top 1% of all agents in the United States.

Most weeks, I come to you with data and statistics. Is the market up? Is it down? Is it flat? Where are we? That’s usually the conversation. But today I want to talk about something the numbers don’t show: the experience I’m watching buyers and sellers go through right now, and how this whole process is landing emotionally on people. Because in this game, that matters just as much as the data.

Here’s what I’m seeing. Right now, both sellers and buyers are stressed. That’s the biggest thing in this market, and I want to walk through why I think it’s happening.

Many homeowners are locked into very low interest rates. Maybe they got 2.5% or 3%, and now they need to sell, because they need more space or they want to relocate. Giving up that rate and walking into a higher-rate environment is a real source of stress, and it’s a big part of what’s kept a lot of sellers sitting on the sidelines. But for the ones who do need to move, it creates a lot of angst.

Then there’s the sticker shock on the other side of the move.

Even when you’re selling your home for a great return, you’re turning around and shopping in the same expensive market. The home you might have bought for three or four hundred thousand a while back is now eight or nine. Psychologically, that’s a hard jump to make, and it weighs on sellers who want to move up or move on.

For buyers, it’s the rates and the monthly payment math. You look at the number and realize you’ve got the mortgage, plus taxes, plus insurance, and it’s a big number. The days of the three and four-hundred-thousand-dollar home are hard to find now, and that’s stretched everyone’s expectations of what they’ll be paying. The cost of everything is up, and housing is no exception. So whether you’re a seller, a buyer, or a renter, you feel it.

So how do you deal with that stress? The best way through is to be prepared and understand what you’re walking into.

If you’re a seller, remember you’re on the winning side of that high market too. Yes, you’re buying high, but you’re also selling high, so you’re getting a number you wouldn’t have gotten otherwise. Take a deep breath, relax, and think through the process. I can walk you through what to expect so it doesn’t feel like the unknown.

And if you’re a buyer, get your numbers ready. Make sure you can comfortably afford it. Spend the time on your pre-approval and talk to your lender, so you’re realistic and comfortable about what you can buy in this market before you ever start looking.

I hope that helps. Honestly, I want less stress for you, because that stress comes back on me and my agents’ shoulders too. So let’s take it off the table together.

If you need help or guidance, I’m here. Give me a call at (978) 746-0124 or email me at chris@dohertyproperties.com, and visit dohertyproperties.com whenever you’re ready. I look forward to talking soon.