In February of 2021 I entered turn 10b at Sonoma Raceway and lost control of my car at 90 miles an hour. I went flying into the tire wall. I didn’t know what to do, so I just relaxed into my body and let the car spin and go where it was going to go, too afraid to counter steer lest I make things worse. I focused on relaxing my body so the impact wouldn’t be so severe. My bucket seat hugging me close, strapped into my 5-point harness, I let go and trusted my safety gear and roll cage to do it’s job.
I walked away from that accident grateful to have survived, and thirsty for more. I refused to let my fear take hold. It did anyway. Two weeks later I was back on track, this time at Laguna Seca. The PTSD hit me hard. It took 8 months to start feeling confident on track again, and over a year to really start trusting myself and my car again. I had to take several steps back in order to move forward stronger and more confident in my next steps. I had to slow down, I stepped down to a slower, less experienced run group. It was a blow to my ego to go from the advanced group to the intermediate group. But it was the right thing to do and the only way I could recalibrate and get back to where I was.
The reason I’m telling you this story is that the accident reminds me a lot of what’s going on in the real estate market right now. It has been going full speed ahead at 90 miles an hour for the past 10 years. Something had to give at some point. Between interest rates and the stock market decline these past couple months, everyone has been forced to re-assess. Sellers on their expectations and buyers working through fear and uncertainty. Buyers who previously were waiting on the sidelines for the market to calm down, are now waiting on the sidelines to see what happens next. NOW is the time to get into the bucket seat and strap on that harness and double down. Had I stayed off track for months while I waited for my fear to subside, I would have been set back well over a year in my experience and what we call ‘seat time’ which is the racing meter for skill and experience. I’d have cooled off and had to start all over again while the rest of my peers got further and further ahead of me. Instead I doubled down and got right back on track the first chance I had. So instead of lagging behind everyone else, I’m now closer than I was before.
Real estate in the Bay Area slows down for very brief periods of time and it’s these brief periods where some investors get really far ahead while others wait on the sidelines only to have regrets 6-12 months later saying “I wish I moved when things slowed down…”
I’ve been in this industry for 17 years. I’ve seen the markets go sky high, and plummet back down. Then I’ve watched them rise again steadily at first, and then drastically. I’ve also studied historically what the market has done in various recessions since 1960. I will tell you - NOW is the opportunity zone.
Maryann is passionate about educating her clients on the process and preparing them for the buying and selling process in the beginning.