Welcome to a new week here on the Retirement Quick Tips podcast. I’m your host Ashley Micciche, co-owner of True North Retirement Advisors, an independent financial advisory practice managing $340 million in client assets. I’m a Chartered Retirement Planning Counselor, and I started this podcast because I love helping people just like you gain clarity and make a plan for the retirement you envision. 

This week on the podcast, I’m discussing a big question that is on the minds of many Americans these days: Is It Too Late To Buy Real Estate?

I sat down for an interview with Matt Mahaffey, principal broker with the Mahaffey Real Estate Group in Portland, OR. For over 18 years, Matt has had the opportunity to serve well over 500 families in the process of buying and selling real estate. He’s advised clients on everything from first-time home purchases, to rental properties, to selling a 74-acre farm stand business. 

He’s a true professional and has a deep understanding of the real estate market. As a 4th generation Oregonian, most of his expertise applies to the Portland, OR real estate market, but as you’ll see, much of what we’ll discuss this week in our interview applies to real estate across the United States. 

Matt and I have known each other for about 8 years, and he helped us find our current home back in 2014. He did such a great job that I referred him to my in-laws a couple years later when they sold their house and downsized after retiring. 

So this week on the podcast, Matt & I explore real estate issues of particular concern for retiree and pre-retiree Americans. Specifically, we discuss:

• The current real estate environment (prices, inventory, trends in 2022- higher interest rates, economic uncertainty, what else?)...Recent headlines within the past few weeks: 

• WSJ: Median sales price for single-family existing homes was higher in fourth quarter versus year ago in 181 of 183 metro areas (https://www.wsj.com/articles/u-s-housing-affordability-worsens-11644507291) 

• WSJ: In Covid-19 Housing Market, the Middle Class Is Getting Priced Out (https://www.wsj.com/articles/in-covid-19-housing-market-the-middle-class-is-getting-priced-out-11644246000)

• WSJ: U.S. Home Sales Jumped 6.7% in January Amid Record-Low Inventory (https://www.wsj.com/articles/u-s-home-sales-jumped-6-7-in-january-amid-record-low-inventory-11645196860) 

• Selling and downsizing - is there a better time than right now to sell a larger home and downsize to something smaller? 

• Single-level homes - big issue of supply for retirees looking for a floor plan that suits their needs as they age

• Concerns about buying at the top of the market…What are your thoughts on the market for investment properties and rentals
• Thoughts on buying a 2nd home as a vacation home or a snowbird destination? Again…concerns about buying at the top

If you want to watch the full video interview with Matt Mahaffey its entirety, you can find it on my YouTube channel - True North Retirement.

I hope what I have to share with you this week will help you make smart and thoughtful decisions with your retirement. And while I am careful to not lead you astray, personal finance is not an exact science. There is no one-size-fits-all solution for everyone, so I encourage you to disregard anything I say that may not be helpful for you, and to consult your own financial, tax, and legal advisors regarding your own individual situation. 

That’s it for today. Come on back tomorrow where I’m diving into the interview with Matt.

Thanks for listening! My name is Ashley Micciche...and this is the Retirement Quick Tips podcast.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance