The One Question Most Real Estate Agents Hate To Answer
Real estate agents (for sellers and buyers) field a lot of questions about towns, suburbs, and neighborhoods. There is, however, one question they really dislike hearing. That question? Is this the best time to sell (or buy) a home? Why do we dislike this question? Simple really. We don’t have a crystal ball so we cannot predict the future. Most real estate agents won’t answer this question with a direct “yes” or “no” – the answer will often start with “it depends on…..”
While real estate agents are happy to discuss trends and the current market, whether today is a good day to buy (or sell) will depend on factors such as interest rates, demand, government announcements, uncertainty in federal politics, and local announcements dealing with developments or closures (such as schools). Whether or not the market is right to sell or buy is really dependent on your needs.
For sellers, motive is always going to dictate whether or not ‘now’ is the best time to sell. If you want to sell because you have decided to live elsewhere, then now may not be a good time to sell. If you have to sell to move to a new area for employment, then the question is most likely moot – unless you can fund another mortgage and place your current home into the rental market.
For buyers, now could be a good time to move home – no matter what your reason. You do need to be aware that your current home will most likely not sell easily or quickly, however, if you’re a first time home buyer, then the conditions certainly do favor you. Low prices, low interest, and a tightening mortgage market may mean that now is your best time to buy – not because of the market, but because now could be the best time for you and your circumstances.
Don’t ask a real estate agent if now is a good time to buy or sell. Rather, ask them about market trends, listing times, and the mood of buyers or sellers in your area. Those answers are easier and your agent will be much more forthcoming.
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