What Just Happened?

Holy moly! What just happened? Unless you live under a rock, I'm sure you've noticed the last few days have been absolutely brutal on the ol' investment accounts (and if you do live under a rock, do you have any room under there for me?).  Everyone's been affected; everybody's in the same boat, and it's truly a sucky boat to be in. But here we are.

Last week we sent out our Q1 wrap-up for the housing market and stated a lot of things that still make a lot of sense right now. Last week we told you...

"So what's next? - I believe there's bound to be on-going economic and global uncertainties for the remainder of the year. This could mean vicious bounces and corrections in the stock market. While buyer sentiment could cool off in between months, I still don't expect a drastic change in sales prices. So as a potential home buyer, you want to build and preserve as much hard cash as you can. It'll give you the opportunity to get in the market! As for homeowners that are on the lookout to refinance, I anticipate you'll have the window to do so some time around July if the stock market tends to be weaker. The Fed loves to jump in whenever the stock market is in its' fragile stage."

Fast forward 10 days to today – We've experienced that vicious bounce in the stock market, and I'm looking forward to seeing what this does to mortgage interest rates over the next few weeks. Some reprieve there would be nice. If you're a homebuyer and have built up cash recently, good for you – you look like a genius. For home sellers, it's now more important than ever to prep your home correctly when selling your property. This stock market dip is going to diminish the number of active buyers in the market, so standing out in a market with higher inventory is going to be vital.

It could be worse! It could be much, much worse! So take some time this week to appreciate the things you have and the good people in your life. Stocks will rebound, and you'll recoup your money at some point. Investment market charts will continue to go up and to the right in the future, and we'll make it back!

As always, let me know if you need anything!