t has been interesting to watch, listen, and participate in discussions over recent months regarding both the current state of the real estate market and the future outlook or where commentators “think” the market may go.
I think it’s great that our population has such an intense interest in the property market and also that the media matches the population’s enthusiasm by devoting miles of space to covering the topic.
What I don’t think is so great is the belief that some commentators have that their point of view is the only correct one and that everyone else is wrong. Often the most quoted or recognised commentator is the one with the most controversial view, expressed in the strongest manner, rather than the individual or group of people that speaks more quietly and with reason.
In today’s environment basing decisions on the predictions of so called experts can be a recipe for disaster.
My belief is that the very best decisions being made in the property market today are being made by those people who make the decision to buy or sell based on facts available to them today.
The facts are simple — property today is more affordable than it has been for some years and interest rates are at historically low levels.
The facts are also that the majority of buyers and sellers in Ireland buy and sell due to factors that are present in every market, a new baby demands more room, children leave home, we need less room, a death or divorce, perhaps a promotion at work allows an upgrade, or maybe a job transfer means a move to a new location.
These facts are present and consistent no matter the state of the economy or market.
The facts are that over the last 24 months many people in these positions have avoided or put off making a buying or selling decision due to the fear or uncertainty created by the economic situation the world has faced. They have put their lives on hold, often due to listening to the opinions of “experts”, and sales numbers have tracked at levels below sustainability for our population.
What has occurred during February and March 2009 is that buyers and sellers are coming to terms with today’s environment. They are addressing their need or reason to buy or sell and are emerging from a state of paralysis that has been holding them in limbo and are now making decisions based on facts. This has led to an uptake in sales volumes when compared to the record low numbers this time a year ago.
Now the “experts” all have opinions as to the future of the market and the intelligence or otherwise of people buying and selling today, I even have an opinion which I’m always happy to share.
The fact is however I have identified an expert all buyers and sellers should subscribe to prior to making the final decision to buy or sell property. This expert will know your personal and financial position intimately no matter where you live, he/she will know your needs, wants, and desires, and can make sure the decision you make is the right one and what is best of all is that their opinion is free!
Who is this, how do you find him/her, how can he/she know so much about you and still be free of charge? Simple really, look in the mirror he/she is looking right back at you!
In making decisions today we have massive access to information through sites such as our own www.remax.ie and great property information sites such as www.daft.ie that provide you with facts that will ensure you are able to make good decisions that meet your needs.
If you are wondering what to do, should you buy, sell, or wait, get the facts, weigh them up, and then listen to yourself. You can make yourself an expert for your own situation, so don’t put your life on hold due to the opinions of others whom you don’t even know and who certainly don’t know you or your needs. Talk to people you trust, seek out factual information, and back your own judgment.
Some buyers and sellers in February and March of this year did and the smiles they have now are wonderful to see. Far better than the dour frowns of the pessimists of 2008!
Sean Lyons, RE/MAX Property Group, (091 ) 845500.
