How long is too long too wait in a down market?
Everybody has their own opinion! I have mine, you have yours and they have their's...who's right? That's probably one of the toughest questions to answer in an UP or DOWN market. That very question brings me to my question to you...How long is too long to wait? I hear all the time, "wait till the new year" or "we still have a year or more of price decreases" or "i'm going to watch the market to see what happens". The answer is that NOBODY knows what is going to happen. I could send you 10 different articles that forecast 10 different scenarios for our future.
In the Real Estate world here is the reality of our market. If you are renting, it is an amazing time to buy, home prices have dropped and interest rates are still low. If you wait too long either home values will start to rise or interest rates will go up so if you are a renter and have been thinking about jumping into home ownership then there is no time like the present!
If you are a seller moving to another MAKE SURE your house looks like a show home and price it right, the good ones still sell and they still sell fast!
If you are a seller and looking to buy another home in Calgary, then the same thing applies to you as above. Your home needs to be one of the cleanest best looking priced right home in the market. Why not get Top dollar in any market, you put in the work and you will get the most out of the market you are selling in. Now you might not get as much for your house as you would have a year ago but you won't pay as much for the house you are going to buy either so that's a win win.
Yes we all want to get the most for our homes when selling and pay the least for the homes that we are buying. Hire a good Realtor and that's EXACTLY what will happen!
To sum it all up, what I'm saying is that, sometimes waiting too long causes you to wait yourself right out of a good market. If you the home buyer or the seller are happy with what you payed and or got for the sell of your house then that's what counts. Being happy selling a property in this market is tough, let's face it this is a BUYERS market and it should be super easy to have a smile on your face when buying a property. I know that some people will think I'm crazy for saying that and that some people think they know exactly what this market is going to do, but If some of the most powerful, knowledgeable people with first hand information in oil and gas can't predict this market...how can you?
Get a good deal now while they are to be had and don't WAIT yourself out of the market