When is a good time to make a move? The best time to make a move is always when you or your family has a need that requires a move - a new baby, kids off to college, moving to or out of town for a job. Quality of life is important, so when life says "Move", I am here for you.
But how about if you just have the itch to make a move. How do you know if it's a good time?
One rule of thumb is it's always a good time to buy or sell if it's a seller's market.
In a seller's market prices tend to increase faster than in a balanced market. Selling your house in a seller's market is advantageous if you're selling or buying to move up or down. YOu may not get top dollar for your sale, but you also won't PAY top dollar for your purchase. If you wait to sell at the very top of the market, you'll buy at the top of the market so there's no advantage to waiting. Some sellers today think the market is due for a downturn and they think - "I'll sell today and rent a while. Prices are sure to come down". There are flaws to this logic. Prices only drop in a sustained buyers' market. We've been in a strong seller's market for a long time and the prices to drop, we need first to shift to a balanced market and then move to a buyer's market for an extended period of time.
in 2005 when we had the crash it took 8 months to move from a seller's market to a balanced market and prices continued to increase in that time. And then, it took 3 more months to move into a buyer's market and 8 more months to see prices impacted. We are ina market today that's significantly hotter than it was in 2005. Waiting today may mean waiting for a year or two ... or three for prices to drop. While you are waiting, you are paying rent, not building equity, not claiming the potential tax advantages of home ownership and dealing with rising rentals and purchases. Waiting to sell and buy will most likely cost you money.
For a buyer, it may be frustrating finding a property in this very strong seller's market. But when you do, your equity growth begins almost immediately. Real estate is the best way to build wealth and waiting to buy will cost you money as well. There are strategies to win in this market and I can help you do that. Please call me at 480-966-9353.