As we emerge (slowly) from the confines of our homes here in B.C., there isn’t just one question, but a whole host of questions that has clients asking: When is the best time to buy? When is the market dropping? When is the best time to sell?
That plus all the contradictory headlines about which way the market is headed that are coming out daily from the big banks and housing agencies which only serve to confuse consumers even more. Too much noise doesn’t help the cause - it becomes white noise and paralyzes us with indecision and fear.
The worst advice to take would be to take advice that doesn’t fit you and your current situation. You wouldn’t take medicine that you didn’t need, would you? You wouldn’t buy an XXL- jacket (even if it WAS on sale for 50% discount) if you were a size medium, would you?
The same goes for real estate advice. Much of real estate advice is broad-brush. Yes - we all know exercising three times a week is healthy. Brushing your teeth is good, too.
But when it comes to your specific housing needs, all that general information needs to be boiled down and applied to you, your current situation and your finances. Broad-based headlines will impact someone differently who needs to relocate here in July with a signed six-figure annual income than someone else who is facing impending foreclosure. And in both of these situations, they will have their own action plans and timelines to consider that are may - or may not - jive with the timelines of the news headlines.
Have you had a chance to speak with one or two Realtors yet about your own situation? Whether you want to buy or sell (or do both), timing and a granular analysis of the factors that are important to you is key.
For buyers, more often than not, it’s only during the journey of active house hunting that they really find the gem of a place they’ve been looking for. You find the gem or the deal as opportunity comes up - and yes, below market listings are coming up even now. But guess what? The blowout prices aren’t being advertised across the mall. It’s just one sales rack at the back corner that’s just like a pop-up shop - here and then gone. And you have to know where to look (or get a Realtor who can look for you - wink wink!).
Getting a few grounds-based market opinions is akin to getting that extra-large jacket nipped and tucked in all the right places, just for you. Because at the end of the day, isn’t that what you need? Advice that’s right for you.