Know the Right Time to Buy or Sell a Home
13 July 2016
We often get asked “When is the best time to buy or sell?” The economy and real estate forecasts tend to be important factors in this equation; however, major life events or financial issues are at the forefront.
Here are some suggestions to consider when timing a home purchase or sale.
Traditionally, Spring has been the big real estate selling season. Fast forward to a technology driven era and while Spring is still a strong selling season, today’s buyers are looking online and searching on their phones every day, no matter the season, and transactions happen all year round.
Shifting interest rates
Since most home-buyers need a mortgage to purchase a home, it’s no surprise that we see buyers start looking much more seriously into real estate when they hear news of the Federal Reserve raising interest rates. As we see rates creep up over the next couple years, be on the lookout for more buyers ready to grab the perfect home before rates get too high.
Time is money
Staying on top of your local trends will help you determine when a good time to enter the market. For this, we recommend talking with an experienced real estate professional, someone who’s very knowledgeable about what’s happening in your neighborhood. If you want to purchase or sell, do some research, get as much local information as possible and start the conversation with an agent early to stay informed about shifts in the market.
Have any questions about what’s happening in your market? Contact us today!