WHY WAIT ‘TIL SPRING

In these volatile economic times, the question all investors ask is when should I buy or when should I sell.  This particularly applies to real estate.  In theory, Spring is the time to sell because most buyers are out looking to buy.  However, the best time put a home on the market is in January/February, before the Spring market hits.  To wait for Spring is not only too late, but if you were to look at today’s market, the buying advantage is now.

LITTLE INVENTORY.  As told in Economics 101, “supply and demand” determines value and with the number of homes for sale down 20% from just 3-6 months ago, and the renewed hope of a stimulus package energized by the new administration for these buyers.  It takes a homeseller with foresight and motivation to realize timing is everything, and with the aforementioned, a rise in the percentage of buyers to homes for sale out there, they would surely optimize their home’s value.

GET A JUMP ON THE COMPETITION.  Why wait until everyone else puts their house on the market.  You will increase your chance of selling your home the market will bear.

BUYERS NOT LOOKERS.  The Spring market brings a greater percentage of lookers and curiosity seekers, whereas, anyone out now and weathering the elements, are serious qualified buyers.  Most tranferees relocate in the beginning of the year and because their companies are paying for most of their expenses, they are able to spend more for a home.

TAKE ADVANTAGE OF THE SPRING MARKET.  When a seller can sell now, they will realize their profit and have the time and opportunity to find the larger selection of homes available in the Spring.  Plus the seller is then in control to pick a closing date to coordinate with the purchase of their next home, as opposed to buying first and then scrambling to sell their home and usually at a lower than market price because of the time constraints.

This, of course is today – what will tomorrow bring no one knows.  However, real estate is the best long term investment there is.  And yes, those who bought in the last 3-5 years have made 20-30%and even though the interest rates have gone up, you are still at an advantage to move up now. You have equity you never had before.  For those who bought ten years ago their investment has increased enough to take advantage of today’s prices.

To chat about whether the time is now or in the near future to sell, contact me at 201.317.7527 or jeffrey.halpern@randrealty.com.