Lina's Real Estate Talk

Little thoughts that I would like to share with you.

So the other day, I had a conversation with one of my colleagues who has been in this business for more than 18 years and sold 65 houses last year about the market conditions and "The Question" of all times: when would be the best time to sell or buy.

As this question is inevitable almost within first 1 hour of being in contact with any clients, well, the actual question might be in other forms like: do you think is it a good time to sell/buy as of right now? Or do you think the market is going down soon? But you get the idea.  I'll give the answer here, so if in the future I'm asked the question, I can forward this article to them. Here is what he thinks and I totally agree.

When we think of a good time to sell or buy, the first thing we think of is if the market is peaking or hitting the bottom. Everyone wants to sell at the peak and buy at the bottom. There is nothing wrong with this concept, however, as some of the experts make a conclusion of what's next based on hundreds of charts、comparison of housing prices on a historical scale, and as much information as we have(oh yes, I've been curious about the movements of the market since day one and yes I've invested thousands of dollars buying courses and books predicting where the market is taking us) about market indicators such as interest rate, employment rate, affordability, etc. no one knows for sure if the market is going upwards or downwards, when is the peak or the bottom until it happens.

So again, when is a good time to sell or buy? The correct answer would be when you and your family are ready. First, ask yourself why you want to sell/buy. Then, check your bank account if it is financially workable? If the answer to the first question is that you have a better job opportunity out of town or the house you currently live in does not fit your lifestyle anymore and the answer to the second question is positive, then you are ready. Keep in mind, the market will always be up and down, Only when you and your family are both financially and emotionally ready is the best time for you to sell or buy.