What do you need to know about buying or selling real estate in the 4th Qtr of 2016?
It boils down to three things:
The first is INTEREST RATES!
The bottom line is this.
INTEREST RATES ARE LOW!
It’s a good time for buyers and seller to GET INTO THE MARKET NOW if they’re even thinking of buying or selling a house.
OK, let’s look at timing… When should you get started? Well timing is crucial,
Football season is here.. And just like a game, you need to have a good plan. If your the San Diego Chargers, you have to win, on the field and at the ballot box. If you’re thinking of getting making a move ask yourself… Do I have a good game plan?
If you are looking to sell your house right now, timing is important. Here we are, late September… That means that, if someone is going to list your property, they are probably going to get it onto the market in a week; 10 days perhaps two weeks from now in order to do so properly. If you have someone who tells you they can do it quicker, I would question what they are doing, vs. what you need. The point here is time is of the essence! Among the things I’ve learned in the past thirty two years is once November 1st rolls along it becomes a whole different market.
You go from it being a strong market like it is right now, one that is fairly balanced; the inventory coming on the market, and the sales have been fairly equal. After November 1st there is significantly less buyer interest. What does that do for you? That ultimately means you’re going to have a lower sales price because of less people through the door. If you’re really trying to have your property sold by Mid November you probably have to think about listing right now.
Now if you a buyer thinking about buying in today’s market, you’re seeing low interest rates which means your average monthly payment will be less. What that means for you is you’re not quite in a bind as if you were trying to sell. That said, you should get going now. If you don’t you’re apt to miss a lot of quality inventory that’s going to come on the market in the next few weeks. One other thing –Interest rates can change quickly, and a 1% rise in rates, will meant a 10% decrease in what you can afford!
Right now with the 4th quarter of 2016 upon us, we are still in a good market for both buyers and sellers.
Sellers – right now, there are more buyers out there, demand is strong. If you price right, you’ll get a little more interest than usual, perhaps putting a few more dollars in your pocket.
If you a BUYER, you’re still in a good market, yesterday (9/22) the Fed left interest rates alone so now is still an awesome time to buy! What is happening in the Greater San Diego area is really driving value increases. When you look at trend lines, I really don’t believe we are at where I believe San Diego values should be. It’s more expensive than some would like, however this could look like bargain times in the future.
So what does all of this mean? Yeah, positive market conditions. The one common theme, whether you are a buyer or a seller, when you’re in the 4th quarter, and the game is on the line, you need is a strong agent, with a good team, who can help accomplish your goals. Do you have a strong agent? For those thinking of selling, you can get a copy of our Free Report “The 17 Questions You Absolutely Positively Must Ask A Real Estate Agent BEFORE You Sign Anything!”