Don’t Balance, Blend… in Life and in Real Estate

How do you define balance? Do you believe achieving work-life balance is possible? Balance has several shades of meaning, but simply defined, it is having the right amount — not too much or too little — of any quality which leads to harmony or evenness. Hmmmm…..in the true sense of the word, you probably agree that there is no such thing as balance when it comes to your work and your life.

When was the last time you had a day that felt even? Harmonious? Even if you have even-keeled days from time to time, you probably agree that consistent harmony and evenness do not go hand in hand with the daily demands of your work and your life.

Is There Such a Thing as a Balanced Market?

So, what about the real estate market? We know that a buyer’s market is usually defined as having more than six months of available inventory. We haven’t seen that level since 2012 when we were recovering from the housing bubble. Inventory levels have risen, but they’re still well below the long-term average and they are expected to remain well below normal. As such, many believe we will see a more balanced market in 2023.

But, what does that even mean? And, how does it impact your real estate decisions? In a nutshell, a balanced market occurs when supply and demand are about the same. In other words, buyer demand matches the number of homes for sale. Today’s market may be more balanced than the previous market, but is it really balanced? In some areas, inventory is so tight, we’re still experiencing bidding wars and over asking offers. But, in other neighborhoods, properties are sitting longer and prices are softening.

Finding Balance

Finding balance in the real estate market is a lot like you trying to find it in your life. Like your life, the market ebbs and flows, is always changing and is unpredictable. And, just like no two days in your life are alike, no two neighborhoods are alike. In your life, there is some good stuff and some bad stuff likely running right alongside each other. The same is true for the market. And, just like your life, you will find challenges in the market. But, you will also find value. Incredible value.

Real estate is a lot like life. In life, you have to integrate your activities. For example, you have to integrate work, home life, and play, and you have to figure out a way to make it all work together. The same is true for your real estate decisions. Today’s market may be challenging, but you can still achieve your goals. For example, you can integrate higher interest rates with a less frenzied market, giving you more room to negotiate. Or, you can integrate creative financing such as a seller buy-down or an adjustable rate into your financing to find the perfect blend of mortgage payment and property.

If you want to buy or sell real estate, you’re wise to think in terms of blending. Blend your wants, needs, and desires with current market conditions and figure out a way to achieve what you want. Success comes from your ability to adapt and evolve, so look for ways to integrate your real estate goals with today’s current market.

The Same Holds True for Your Life

Since there really is no such thing as work-life balance, think in terms of work-life blend. Blending allows you to manage your work and your life most effectively. Your work/life blend is a mixing together of the various facets of your life. Rather than separating one from the other, you look at ways to integrate all the parts of your life. Balancing completely separates your work and your personal life, while blending allows you to merge the two in a healthy way. Blending implies that there’s no right or wrong way for you to reach your goals. There’s just the way that works best for you and your particular circumstances.

Blending your life is realistic and achievable. The same holds true for real estate. When you blend the right strategy, the right financing vehicle, the right property, and the right professional, you can achieve the perfect blend. And, the right results!