December In Aspen
Buy Great Properties at Fair Prices
When real estate markets slow, buyers and sellers tend to retreat. The Fed’s 11 successive rate hikes to cool inflation have, in an almost singular way, targeted commercial and residential real estate markets. The ancillary bleedout includes a big slowdown for architectural firms, interior design firms, construction companies, developers, mortage companies and e-commerce related to homes. Interest rates are at their highest levels in 22 years.
As long-time investors in residential and commercial properties, we have been thinking a lot about what ultimately governs good decisions on the part of home buyers and sellers in any market. In Tracy's book, Real Estate Rescue: How America Leaves Billions Behind In Residential Real Estate And How TO Maximize Your Home’s Value, she has a section devoted to trying to time the market. “A broken clock is right twice a day. Trying to time a real estate market is a fool’s errand. Buying or selling a home based on the prediction of the future market value is a strategy that has left many investors on the sidelines for years at a time during market run-ups”. Our advice to our clients is to buy great properties in ANY market at fair prices. The S&P 500 is sitting on an almost 20 percent year-to-date gain. The anticipated recession never came. The market is likely building in anticipation of interest rate reductions in 2024. Yes, money is costly to borrow, but in our professional opinion, should not prevent savvy investors from buying great properties at fair prices. That property, in an average hold of 15-20 years, will have an immeasurable appreciation as a key asset with the added benefit of living in a beautiful home that creates endless memories for you and your family.
Happy holidays. All the best for a safe, happy, and healthy 2024!
Whitney, Grace, and Tracy
Successful Sale Spotlight
The Agency Forum 2023
We had such an amazing time at the 2023 Agency Forum in Austin! A huge thank you to Mauricio Umansky, Billy Rose, and Rainy Austin for leading us through a great week of workshops, guest speakers, and fun events. We feel so lucky to be a part of such an incredibly caring and progressive brokerage with a community that truly feels like family!
December in Aspen & Beyond
Please join us, alongside Carolina Cerlat and Ksenia Sufleta, to celebrate the holidays with Maison Ullens. This exclusive Belgian Brand offers your year-round, nomadic, and chic wardrobe. Come with family and friends on Sunday afternoon for hors d'oeuvres and wine!
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