Should you try to “Time” the Market?

If you’re thinking of buying a new home, you might be tempted to wait until “the market is just right.” That might work for professional real estate investors who are willing to take those kinds of risks. But if you’re looking for your next dream home, trying to time the market is usually not a good idea.

Why? Because no one can predict the real estate cycle with any degree of accuracy. Interest rates go up and down, as do housing prices-often a lot less predictably than experts care to admit to. If you attempt to wait until just the right moment, that moment may never arrive. And, you’ll miss out on some great opportunities.

When is the best time to look for a new home? When you’re ready to buy one. Don’t wait. Start your search today.

Take a Close look At Track Record

Why is one major league baseball player paid $5,000,000 while another on the same team, wearing the same jersey, with the same qualifications and experience is pair only $300,000?

The answer is, of course, track record. The player that hits the ball and makes the bases more often than most other players in the league, year after year, is considered the greatest asset to the team-and is therefore paid a significant premium.

Now, you don’t have to be a baseball fan to understand how the importance of a track record applies to selling your home. A real estate agent with a track record of top performance is going to have a much greater chance of selling your home quickly and at the best price.

How do you determine the track record of a prospective real estate agent? Ask. Most reputable REALTORS will share this information with you and many are, in fact, proud of their track records.

Here are some REALTOR “stats” you should consider:

• The percentage of listing the REALTOR actually sold.
  
• How quickly those homes sold (Average number of days on the market.)
  
• The percentage of asking price those homes were sold for.

Keep in mind that, even in the hottest markets, not every home will sell for 100% of the asking price. So if the average for your neighbourhood is 90% and the agent you’re considering consistently sells for 95% of the asking price, then this performance is well above average.

Where do you find this information? Each local real estate board maintains these “market watch” statistics. Visit the board’s Web address or call the board office.

Want to discuss how to sell your home more quickly and at the best price? Call today 250-246-8866