The Secret to Buying Real Estate in 2023
How to invest wisely in an upside-down market.
Welcome to the Team Cool Murphy 2023 Annual Market Overview, an in-depth report.
This year's issue is focused on comprehensive strategies to navigate this unusual real estate market. In this report, you will learn a few secrets most REALTORS don't want to share, including:
Is this Right for You?
Is reading this report worth your time? That's up to you. If you identify with any of the following statements below, you will find the information in this report helpful.
If any of the above feels familiar, or if you're seeking to help someone you've heard make similar statements, you've come to the right place.
In our full report you'll find facts in the form of charts and data, pretty listing pictures, insights in the form of quotes from Harvard PhD's, and happy ever afters.
You'll also learn the role both the market and your own mind play in your chances of investing wisely. You'll discover the difference between scared and smart buying. And you'll finish by understanding exactly what you need to be a smart buyer in 2023 and how to get started immediately.
I. An Introduction: Congratulations You Survived 2022
2022 began like a scene from the Hunger Games. Twelve buyers vying for one title. Rates were low, and so was inventory. I received an offer on a listing that - I kid you not - read, "may the odds be forever in our favor."
Over the course of the summer and then fall, things changed. The odds were not in anyone's favor. Or so it seemed.
Inventory remained tight. Prices began to normalize. But monthly payments on new purchases skyrocketed due to increased interest rates, increased property insurance policies, and increased flood insurance.
The competition cooled, and the victories didn't feel as sweet. Buyers became timid after hearing rumors of housing recessions and worse.
It was a tough market to navigate, and the victors won the spoils, or so it seemed. 2023 brings good news. And it isn't on the horizon. It's there for the taking right now by savvy buyers with a smart agent. Allow me to show you.
II. A Bit About Me, Your Author
Why might you benefit from my strategy? I know a thing or two about unusual markets, who benefits, and how they do it.
The year was 2007, and I was researching mortgage tranches. Why? At 25, I was the youngest account supervisor at the world's top agency and oversaw the bulk of Morgan Stanley's advertising campaign.
Morgan Stanley had just acquired Dean Witter. They were rebranding. Set to be the biggest and best.
My job was researching and comprehending complex financial strategies to break them down into simple concepts that were marketable to the general public. These concepts included everything from microlending to credit swaps. Sitting through interviews with Phillip Purcell and later James Gorman was my Tuesday.
I poured through the pages of Power Broker, through Q&A's with Jamie Diamon, and had the Financial Times, Barrons, and The Wall Street Journal delivered to my desk every morning. When I conveyed the strategies of the mortgage industry each day in layperson's terms, it felt a bit like describing a game of hot potato. Everything would be fine if it kept in motion. What happened when it didn't?
We know the answer to this. By 2008 my contemporaries at Lehman boxed up their desks. The Gormans and Diamons of the world were about to get major bailouts. The world would ask, how did this happen, and could this happen again?
Most prayed it would never happen again. Savvy investors, however, asked themselves, "how can I make this once-in-a-lifetime situation work for me today?" They asked, and they profited.
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I, myself, had been poached by The Wall Street Journal to focus on developing a new product aimed at entrepreneurs. My focus was a smidge less financial. My appreciation for entrepreneurs navigating a rocky market deepened.
How did some turn an upside-down market into a possibility? How did they see obstacles as positives while others drowned in indecision?
III. Understanding Your Mind and The Market:
The Basis for Your Strategy
If you want to understand how 2023 won't be like 2008, you can find that information on nearly any REALTOR's Instagram, YouTube, or Facebook. Every news site has covered this. Every site owned by Zillow and Move, Inc. has a heap of blogs covering this topic from every imaginable angle.
But that's not why you came here. You came here to learn how to take an upside-down market and make it work FOR you. You're smart and looking to get smarter. Go you!
The excellent news about upside-down markets is that they CAN work for you. You've got to work with someone who can research, comprehend, and convey complex things. You need someone who sees obstacles as possibilities and who can help you defeat excuse-driven indecision.
In our full, free report, you will learn how 2023 differs from 2022. You'll understand why the prevailing doom and gloom narrative could mean savings for savvy real estate investors. And you'll learn how to make an upside-down market work in your favor.
Let's begin by understanding the difference between 2022 and 2023. As well as how we got here and how to make it work for us.
Voted Neighborhood Favorite by Nextdoor, Team Cool Murphy is a top-producing, licensed real estate team based in New Orleans, brokered by exp Realty.
Elisa Cool Murphy's clients call her "Hands down, the best REALTOR in the South," and she is a top-producing Realtor, coach, and Leader of Team Cool Murphy.
phone: 504-321-3194
IG: coolmurphynola
You can learn more about her here.
Team Cool Murphy, is brokered by eXp Realty and consists of licensed REALTORS? in the state of Louisiana. Our brokerage is global and cloud-based, we serve the Greater New Orleans area and are happy to refer great agents in other places.
Our office number is 800-746-9840x157.