Four factors to consider when deciding whether to buy or sell now or wait.
When is the right time to buy or sell? Those are the two questions we’ve been receiving most often lately. Here are four things you need to consider when deciding whether or not to make a move;
1. Talk to a local real estate expert. We hear all kinds of things on the news about inflation, interest rates, and lack of inventory, but you need to know what’s happening in your local market. Even if you’re buying somewhere else, we can connect you with a great real estate agent in that area so that your entire transaction aligns well. Don’t focus on just the national or state-wide news, you need to know hyperlocal information.
2. Interest rates fluctuate. Again, there’s been plenty of talk about interest rates increasing, but they also sometimes pull back. We have excellent lenders who know how to get creative with loans to help you. For example, they may be able to help you get a smaller down payment and use the money to pay down your rate. Don’t get caught up in the final sales price; we can walk you through everything. You might miss a great opportunity right now if you simply sit on the sidelines.
3. Markets and seasons change. What was true 30 to 90 days ago in a certain neighborhood may not be true today. Also, buyers should focus on their monthly payments instead of the sales price. However, other neighborhoods and price points are only getting a few showings and maybe one or two offers. We’re occasionally even seeing homes having to reduce their prices to get sold. Keep in mind that things are always changing.
“We have excellent lenders who know how to get creative with loans.”
4. Personal needs and goals are more important than money. Look at the whole picture, and let’s decide together whether the potential increase in appreciation is worth it compared to the money you could lose if you wait to sell. Also, again, buyers can’t focus on just the sales price but rather what you’ll pay per month and what you can buy for that amount. Remember: We live in the payment, not the sales price.
If you’re thinking about buying or selling locally here in Santa Clarita or have any questions, give us a call or send an email. We can get you all the information you need and provide expert advice.
