Major League Baseball's Opening Day, trees and bushes growing back, longer days of sunlight, and flowers blooming are just a few reasons why many people love Spring.
In real estate, the Spring Market is often referred to as the busiest season, as homebuyers are eager to pursue properties. It is the perfect time to move and settle, without worrying much about frigid temperatures or blazing heat from the summer sun.
Likewise, springtime is buzzing in the world of baseball as it allows pitchers and catchers to make most of the longer daylight through practice. In the US, baseball is one of the favorite sports of all time. Baseball teams prepare arduously as they all seek to win the trophy.
While many people think that real estate and baseball are complete opposites, there are some things that link these two closely. These things may actually be helpful for homebuyers, sellers, and even renters who are eventually seeking to own properties. Here are some lessons that we can learn from baseball that can give us an edge in today's real estate market:
Timing and Increasing Value Over Time
While conditions may never be perfect, timing is integral in both baseball and real estate. It may sound simple, however, timing is also a product of different factors. For instance, in batting, physics and style are considered important keys. Leaning into the shot, generating force, rotating shoulders, etc. are factors that one must master in order to execute better-timed shots. Equally, in real estate, it's not enough to know when a property is for sale. It is important to know the market and prepare for it. Yes, home prices are rising, yet you can look at positive factors such as how climbing prices can help build your wealth or getting the right kind of loan to get you the property you want. Just like a player who constantly wakes up early in the morning to practice and eventually become an asset to the team, making informed decisions about real estate investments sooner may help improve your net worth over time.
Take a look at the median price of a property below. Let’s say you bought a home worth $360,000 back in January of this year (the median price according to NAR is rounded up to the nearest $10,000). If you take a look at the forecast for appreciation from the Home Price Expectation Survey, you could get more than $96,000 in household wealth over the next five years:
Source: National Association of Realtors Research and Statistics
Techniques, Team Work, and Decision Making
Making sure that both hands are working together as straight as possible is another important factor to achieve better-timed shots in baseball. The same thing goes for real estate. It is important to find a Realtor® who is willing to work as a team, instead of pushing people to make abrupt decisions.
Whether you are just looking around to buy a property, planning to sell your home, or thinking of using your current home as equity to move into a different place, working with a well-informed and trusted real estate agent is still the best thing to do, especially for those who want to make most of this aggressive Spring Market. A true real estate agent would sit down with their potential client and inform them of the best options, use reliable techniques in the market, as well as walk them through the entire process to help them come up with the right choice.
If you want to buy a home, sell a home, relocate, or just know more about real estate, feel free to reach out! The best real estate agent and real estate team: The Island Wide Team, would love to help!
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