Tuesday, May 12, 2009

Is there risk in buying or selling in this market?

There is risk every day in everything that we do or touch whether it is cooking breakfast and burning yourself or driving your car to work. There is risk in every real estate market, whether economic times are good or bad. People move to new homes because they have a need. It may be that they just got married, or have a new baby, or are getting a divorce, better would be a job transfer or promotion. Life happens. To me, that is why you buy or sell in any market. If you have the need to move, then any market is workable with the proper education and planning.

Risk comes in when you try to move too fast. If selling when the listing inventory is plentiful, then you must make sure your house is the best on the market, so it beats the competition. It needs to be priced the lowest in the area and in prime condition, if you are in a hurry to move. If you are not priced correctly, then your property can become shopworn so marketing dollars might need to be spent to re-introduce your house to the REALTORS who sell in your area. Otherwise, you may have to wait until the competition sells before your house will move. That is economics. If you are buying, you have more choices when inventory is higher and you can shop for the best home for the money, the bargain. Real estate cycles. Whether your need to buy or sell is for investment or for personal reasons, every market has its advantages. Hire an expert REALTOR to help you find the right home to fit your needs.

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