Is this a Good Time to Move?
In a changing market, it is natural for buyers and sellers to question the timing of a potential move. Nobody wants to buy a home and then see property values drop, or delay a purchase only to see values or interest rates go up. Likewise, sellers may feel an urgency to sell quickly in the midst of a slowing market, or worry that they might have netted more if they had sold a month sooner or a month later.
So when is the best time to pull the trigger and make that big purchase or sale? Simply put, when you are ready. Nobody can control the market or predict with complete certainty what will happen tomorrow. Over the last several years, real estate values have risen so noticeably that we may have forgotten that they do dip from time to time. Fortunately, generations of data demonstrate that despite occasional market slides, long-term real property owners have been consistently rewarded with positive returns on their real estate investments. As the great Mark Twain said, they’re not making land anymore!
In the short term, it is best to focus on the things we can control. The process of buying or selling a home can be very complicated, not just financially and logistically, but emotionally as well. Before making any major decisions, take some time to prepare for the transaction. Discuss needs and goals with the other members of your household, and share these with your financial and real estate advisors. We’re here to help before, during, and after the big move.