For many people selling or buying homes, their decisions depend on a lot of factors – such as financial gains or losses, or life events. However, what about economy and the real estate market forecasts?
When is the best time to buy or sell?
Here’s what you should know about the “Right Time” to Buy or Sell:
- Markets are all Different
Regardless of what national news channels say about hot real estate markets and quickly rising prices, real estate markets can vary across the same country and even across neighborhoods.
If you are planning to sell, the best practice is to do your research locally, meet with a great local real estate agent who knows the neighborhoods, and stay informed on recent market shifts.
- Don’t Forget about Interest Rates!
Most people require mortgages when purchasing a home. For these people long-term interest rates are a huge factor in deciding when the right time for them is. This is a factor that you do not have control over, which can be frustrating.
- Seasonal Buying/ Selling
Generally, Spring and summer have been the biggest real estate seasons. Light is at its best and grass is green. Certainly the best seasons to play up curb appeal in the sun light.
However, there is also less competition in the “off seasons”, which is a positive advantage to selling or buying in the Fall or Winter.
Basically, antiquated ideas of “best” or “worst” seasons shouldn’t deter you from buying or selling. With the right list price and a good staging, a home can sell at any time.
- Money Can’t Buy Everything
Having worked in real estate for quite a while I can tell you that buying and selling is not just about the finances. If it were, everyone who has saved up well and has a solid job would be in the market. However there are huge emotional factors.
Whether someone isn’t ready to take on the commitment of owning, or they still have emotional ties to the home their children grew up in - or a thousand other personal reasons really – are factors that keep people out of the real estate market. It’s up to them to decide when the right time to buy or sell is, not the market.
In a Nutshell
The real estate market is different in different places right now. If you think this is the time for you to buy or sell, do you research. A great local real estate agent is a huge help as well!
List with me today for a Complimentary Home Evaluation! Call Cell 604-218-9000!