Tips for Timing the Market
Have you ever heard the saying, “There’s never a good time to get married, have a kid, or buy a house?” As any savvy investor will tell you, knowing when to strike is what it really means. Especially when it comes to home buying.
Home sellers have it easy. If you’ve owned your home for 5+ years, you will win, no matter what’s happening in the real estate market. Why?
- Homes are selling higher than they were from the 2008 crash and within 10% of their asking price.
- Even though home prices have “leveled off” from the historic gains of 2020-22, they are still higher than before the pandemic.
- Home values over time have risen higher and faster compared to job gains.
Timing the Market Suggestions
- There are more homes to choose from during the homebuying season, but you will most likely pay more to outbid the competition.
- The buyer will have more negotiating power for most homes on the market for 60+ days.
- Homes for sale during the holiday season are usually for personable reasons (death, divorce, job relocation).
- Expired listings (homes that did not sell) are another way to find a home.
- Networking with friends and colleagues to find out what their plans are. This is how off-market opportunities happen.
You can make every excuse in the world why it’s not a good time to buy. Analysis paralysis can get you outpriced altogether. Just know the longer the list of “must-haves”, the longer it will take to find “the one.” If you find the turnkey dream home you’ve been searching for, don’t expect to get it at the asking price because it was listed during the holiday season. Rely on the agent you know, like, and trust to create a winning strategy to get your offer accepted.
Happy to help!