When is the right time to buy or sell a house?
Is the real estate market improving? Will interest rates rise? Will there be another bubble?
First of all no one has a crystal ball. While financial analysts can chart current or historic trends opinions widely vary. For instance trying to anticipate the market can prove disastrous if interest rates begin to climb which can change the equation significantly.
There might seem to be patent answers such as the Spring and Summer months are the best time to list a property. The truth is that there is increased competition among more inventory as well as the number of people looking to purchase a home.
A stock investor friend of mine once told me that if I waited for the market to peak I would be too late to get in. Conversely, if I waited for the market to bottom I would be too late.
Well, I believe the same is true if not more so when looking to buy or sell a home,
What are your reasons for buying or selling?
There is no one answer to this question. The reasons to buy and sell a home is strictly subjective and dependent on your needs.
Are you looking for a larger home? Are you a first time home buyer? Are you looking to downsize? Did you lose a job? Are you retiring? Are you spending too much on rent? The list goes on and on.
Now, I'm not trying to avoid the question but as any competent real estate agent, advisor or consultant will tell you: the best time to buy or sell a house could be anytime depending on your needs, goals and finances.
Economic analysts are not completely objective which is the reason Realtor.com may say one thing while CNN might say another. For a complete review of your needs and goals sit down with a competent financial advisor that understands the real estate market.
For a complete confidential and no obligation analysis give us a call. Besides being seasoned and experienced Realtors© Cheryl is also a practicing CPA with years of experience. Let us bring this unique perspective and advantage to you.
Jeff Fox. Properties Plus