At the beginning of the year, it’s common to see articles in magazines, in newspapers and online that offer predictions about the national housing market. These forecasts may provide insight to real estate professionals and interested investors; however, to the average person who’s thinking of buying or selling, the predictions often don’t make a difference in their final decision. Here’s why:
1. All real estate is local. What’s going on in the national market may not be an accurate reflection of what’s going on in our market. If you want to know about our local market and what your home is worth, I’m happy to answer all of your real estate questions.
2. The future is uncertain. Experts estimate future market trends based on current statistics and historical trends. In other words, they use past and current data to find clues as to what might happen next. However, national and global events can have an unforeseen impact on the economy, including the housing market. While experts may predict one thing now, the reality could turn out to be very different.
3. Buying and selling is a personal choice. If you’re ready to buy or sell a home, your decision may rely on factors other than the state of the market. For example, family changes and job relocations are two of the most common reasons people move. While it’s smart to consider the state of the market when you’re thinking of buying or selling, in the end, if you think it’s a good time, then it’s a good time.
When is it the right time to buy or sell?
1. It is part of your financial plan. You are financially ready and now have the freedom to make the property your home.
2. Circumstances are right. Whether you’ve relocated for a job or just sold your home, circumstances may have forced your hand to buy.
3. There are lots of homes for sale in your desired market. If your desired home is in a buyer’s market, now is a great time to buy if you’ve been on the fence.
1. You’ve outgrown your home. If your family is growing or your parents or adult children have moved in, it may be time to sell in favor of a larger home.
2. You want to live closer to family or friends. If you want to spend more time with your loved ones, it may be time to sell and move closer to them.
3. You’re relocating for a job. Whether you’re transferring within your company or you’ve found your dream job, a change in work circumstances may cause you to list your home.
If you’re thinking of buying or selling or want an updated comparative market analysis (CMA) of your home, give me a call! I’m here to help you with all of your real estate needs and to answer any questions you have.