Is it a good time to Sell?

People often ask me: How is the market doing?



What they really want to know is "Is it a good time for me to buy?", and/or "Is it a good time for me to sell?", or more specifically "Will I make lots of money if I act now, or should I wait?"


In my opinion, the answer to these questions really depend on the person asking the questions. If you're a real estate investor, beyond your principal residence, than the questions are applicable - for the rest of you, the state of the real estate market at any given time, usually doesn't matter.


The time to buy and sell, usually doesn't depend on the market at all. Most times people are buying and selling at a time of change in their life; the family is growing, the nest is emptying, you've been transferred in your employment...


Now, don't get me wrong - the ups and downs of the market can certainly effect the amount of money we receive when we're selling our home; but they also effect the price we pay when we are buying. For most, if they are buying in an up market, then they are selling in an up market. You get a little more than you thought you could for your home - but you usually pay a little bit more too. The same goes for a down market; you get less than you thought you would, but you score a deal somewhere too... One however should be very careful when the market is changing rapidly - like it has been over the past year.

A rapidly changing market is an example of a time when a good REALTOR® can help you (this is a shameless plug, I am talking about me)... A good REALTOR® will read the market carefully and help his client buy and sell intelligently; based on current market conditions, with an eye to which direction the market is going. Many real estate professionals misread the changes in the market over the last year, and many more didn't study the market at all - they simply list the home for the price everyone else is selling for, and hope for the best. Having the wrong REALTOR® can cost you thousands and thousands of dollars. Many homes are sold for less than they are worth, while others sit and sit and sit.

For most people, their home is their most valuable asset; and selling your home is an important decision that should be handled with the help of a professional.
 
Contact Derek Dunphy, Sales Representative, Johnson Associates Real Estate Ltd., Brokerage:
CallDerek.ca Georgetown Real Estate Website