Wednesday, July 16, 2014

Wait For It!

Do you need to sell your house? And at top dollar? If you answered that first question with a yes, you most likely answered yes to the second question. Are you in the market to buy a home? For a steal? Again, if you answered yes to the first question, you probably answered yes to the second question. What's the winning strategy in both scenarios? Wait for it!
If you want to sell a house quickly, depending on your market you might be able to. (In Texas, you could sell it overnight). But if you do this, your probably not getting maximum value for your house. Sometimes, a quick sell is best. You know your goal better than I do, but most of the time we need to max our investment. And a higher asking price will turn off some buyers. But holding out can make thousands of dollars of difference. And "wait for it" can start before your home even goes on the market. Everyone in real estate but few people outside of the industry seem to know that housing prices go up in the spring/summer and drop in the fall. So if you're not in a dire need to sell and you're trying to get top dollar, waiting to list your home after Memorial Day can be a huge part of your strategy.
On the flip side, if you're in the market to buy you wait until fall. Let me say that again. If you're in the market to buy a house, wait until the fall. There are situations where you could potentially need to sell a house outside of the peak term. I cannot think of a good reason to buy before fall. Believe me. After selling our home in The Woodlands and moving here, my family is living in a two bedroom apartment. My toddler has no outdoor space to play and things are packed so tightly, I often get hit in the head by flying objects when trying to do simple things like open a closet door. My husband would totally buy tomorrow if I asked him to. But it's not worth it. I'd love an office! But I'm not willing to put an extra ten-twenty thousand dollars on a loan when in a few months, it will be a buyer's market again.
What are your thoughts? Anyone have any experience with this? 
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