The best time to enter the real estate market

Friends and clients,

I recently found an interesting article about timing the market on Zillow that I wanted to share with you today.

 

Usually, people buy or sell a home because of a major life event or for financial reasons. However, if you have the option of choosing when to enter the real estate market, there are a few points you should consider.

1. Every market is different. Just because the national news says that home prices are rising, homes are selling quickly, and multiple offers are common doesn’t mean that’s what is happening in your area. In fact, real estate markets can vary even within the same county. Your local agent will help you stay informed about market trends in your area.

2. Interest rates fluctuate. Most people need a mortgage to buy a home, so knowing what is going on with interest rates can only help you. Last year, everyone was predicting that interest rates would go up in 2016 when they have actually dropped! Again, your agent can help you by putting you in touch with a local lender to get the best rate possible.

3. Seasons change. Traditionally, spring is a strong selling season. However, today’s buyers are looking at homes online every day, no matter what season. Don’t try to time the market based on old assumptions about seasons. It is more important to show your home when it is in its best condition possible. Price your home right and it will sell, no matter what time of year you enter the market.

4. Money isn’t everything. There are practical and emotional factors to consider as well. You might qualify to buy a home now, but maybe you want to finish graduate school, or you don’t want an hour-long commute, or you want to stay close to your family. Do your research and take your time. The market will still be there when you are ready.

If you’re not sure where to start, give me a call. I constantly keep track of what is happening in our market, and I can help you decide the best time to buy or sell your home.

If you are thinking about selling your home, check out our free home valuation tool here.

If you are interested in purchasing a home, you can search the MLS here.

I am happy to answer any real estate questions you may have. I look forward to hearing from you!