I’ve been seeing lots of vibrant tile like this lately. Have you? Do you like it or not? Let me know, and let’s also talk about fake trends and market hype.
Strong opinions: Last week when sharing a picture of this tile on social media, I heard some strong opinions ranging from, “Dude, that is the coolest thing ever” to “Wow, that is just plain ugly.” Some said it was really stylish, but they were concerned it wouldn’t age well. Another person remarked it was like a pattern from the 70s all over again (without the green). Haha.
The reality is vibrant tile has been showing up for the past couple years. Here’s some examples in higher-end flips by Olivia Barrett.
On Twitter @Nashramento shared an image of tile in her Family Room. She said the tile would’ve been too busy for the floor, but not on the wall.
Big point: There’s a variety of opinions on loud tile, but here’s the truth. The market doesn’t care what I think about this tile, and if you’re not a buyer it doesn’t care if you like it either. This doesn’t mean we don’t get to have opinions, but from a real estate sales perspective the ONLY thing that is relevant is whether buyers right now prefer the tile or not.
Moving beyond tile: We have some pretty big headlines right now, and just like the tile above, there are lots of opinions about what the market is doing.
FAKE TRENDS: Quick, here’s some fake trends with legit-looking graphs.
Okay, you either loved the fake trends or you think I’m ridiculous. For me they’re great for conversation – especially in the midst of so many market opinions.
TIPS FOR STAYING GROUNDED IN THIS SLOWING MARKET:
1) Read the article: Some people are only reading headlines instead of the article. Right or wrong, that’s how it is. This becomes a problem if actual stats aren’t as sensational as the headline.
2) Interpret the article: Here’s the question. Is the claim in the headline supported by data? I like hearing opinions, but it doesn’t matter if someone feels like the market is doing something. What do the numbers say? Keep in mind national data could show a different trend than local data too.
3) Listen to many voices: It’s good to get a wide variety of thoughts about the market from more than just one person or data source.
4) Be in touch with what a seasonal slowing looks like: Sorry to beat the dead horse on this point, but we need to be in tune with what normally happens in a slower seasonal market to help us understand trends and spot anything abnormal. My advice? At the beginning of each month ask yourself what is normal. What regularly happens in the given month to prices, sales volume, inventory, days on market, the number of listings, etc…? By the way, here’s my normal vs tanking video if you missed it.
I hope that was interesting or helpful.
Appraiserfest: One last note, I’m going to San Antonio, Texas for Appraiserfest on November 1-3, and I’d love to see you there. I’m very excited to meet people I’ve been talking to online for years, and I’m pumped to get to speak also. My topic is on becoming an expert in your market. I get 90 minutes on stage, but I hope to have lots of time over a few days to sit down to share ideas too.
Questions: What do you think of the tile? Any tips for staying ground in this market in the midst of so much hype? I’d love to hear your take.