Right now, it’s a little look ahead- The real estate landscape in 2020.
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Marcia Edwards: We’ve turned the corner. We’re in the fourth quarter of a year of great real estate. Let’s talk about what’s going on forward as we look ahead into 2020.
Bob Nelson: it’s interesting. We have an election. I would guess, I don’t have to remind anybody this next year that will be significant. It will be a national economic policy election amongst other things. Are we going to become a socialist nation or are we going to remain a little more capitalistic? And for those that are in favor of socialistic, you’re hoping that I’m going to earn enough that they take it away from me so that you’ll have more free stuff.
Marcia Edwards: That motivates me.
Bob Nelson: I may not do that. Yeah.
Marcia Edwards: Well, you know, in looking at the election, it’s fascinating right now. There seems to be constant uncertainty. The only thing that we can count on is that things will be uncertain. And I’m interested in watching the economy as this transitions over the next year, whether it will really shake at the foundations, or just have some twitches during the month of the election.
Bob Nelson: Well, it’s interesting because if you watch several key indicators, look at the T-bill yield rate. No, don’t do that, that’s a waste of time. It’s the stuff that I watch as a precursor of what may happen on the future. Watch the long-term interest rate on mortgage loans, on income property, as well as your personal residence. As that starts to increase and increase markedly, we will be going into a new season of the economy, and not necessarily a positive or a good season of the economy, but that’s what would happen. But what’s been happening so far is interest rates have been coming down, not going up, and they’ve been extremely stable. So as I see, as long as that remains constant, we’re going to be in for a very successful economy, especially for those that would like to invest.
Marcia Edwards: And I would encourage you to know that there’s a point of transition and really the only losers in a down-market is the seller.
Bob Nelson: Right.
Marcia Edwards: So you want to acclimate to that. You want to make sure that you’ve got some urgency here. It seems important and not urgent until it’s urgent and it’s in the rear view mirror. So you’ve got to take this time now, this window of robust real estate marketplace, and make sure you’re right sized for your circumstance. I would also encourage you to take a look at what you want to buy and what endurance you’ll have to get through the down times in that kind of opportunity.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30pm on KPNW for the “Real Estate Today” radio show.