I’ve got three cycles on my mind this month.
1. The Standard Real Estate Cycle
We all know real estate is a cyclical business, one that experiences periods of feast, famine and everything in between. A rising interest rate environment had put some kinks in our pipeline, but I’m heartened by the Fed’s intention to forego any further hikes in 2019.
2. The Economic Cycle
The general U.S. economy goes through its own sets of ups and downs. We have two more months to go before this country hits the longest economic up-cycle in U.S. history. Inflation is low, the Dow is once again above 26,000, consumer confidence is at a record high and we’re in a low inflation rate environment.
3. The Seasonal Cycle
Like clockwork, homebuying activity will experience an uptick between April and August before hitting its inevitable low during the holiday season. The depth of these ebbs and flows vary depending on the year and other two cycles, but they will more or less acquiesce to this seasonal pattern.
Where am I going with this? Timing. It’s all about timing. When you take all three cycles and where we’re at in these cycles into account, the next six months can be make it or break it time in this current environment.
Timing is everything when you’re dealing with a fluid environment that is guaranteed to change, so take these facts to heart:
- – This year will be over before you know it, and the Fed will be primed for another rate hike
- – The up-cycle will eventually end. Many consumers may try to get out in front of this momentum, buying while debt is cheap and their confidence is high before hunkering down and curbing large purchases
- – Spring blends into summer, which blends into the holidays at an inexplicably fast pace
So don’t wait. Take this opportunity to get fiscally healthy and move ever closer to your year-end goals! It’s time to hustle like you’ve never hustled before. This involves generating revenue, but it also pertains to minimizing expenses. I want you to keep both items on your agenda as you hone in on the fourth quarter numbers.
We may only be in the second quarter, but there are no extra innings or overtime in real estate. There are also no timeouts. That clock will strike Jan. 1, 2020 whether you’re ready for it or not. So get prepared now. Establish an abundance mindset early, execute your plan through quarter three and finish the year strong!