Typically the best time to buy is in the Fall/Winter because there is typically less competition at that time.
On the other hand, Spring and early Summer are typically the best times to sell because most people like to move in the early Summer, late Spring.
I hope this all makes sense. Please let me know if you'd like a no obligation estimate value on your current home or if you'd like some information on what homes are selling for in a particular area.
Feel free to give me a call or send me an email at any time!
Sellers who put their house up for sell during these months usually are highly motivated and have to sell - job transfer, loss of job, divorce, etc... Since their are fewer buyers they do not control the transaction and therefore sales during these months will show more seller concessions - credits to the buyers for closing costs and repairs.
Bad time to sell - during the holidays.
Bad time to buy - six weeks ago during the peak buying frenzy when there were multiple offers and bidding wars. Buyers didn't get to negotiate much and the prices were driven up with the "highest and best counteroffers.
Keller Williams Realty
I bought at the absolute peak of 2004. I put 20% down and am still underwater a bit. The difference between me and someone else is that I 'under bought,' so that I could always make the mortgage payment.
Would it have been nice to buy at a lower point? Absolutely! But under today's guidelines, I don't qualify. In the meantime, I've enjoyed living in my home, enjoyed the tax breaks afforded with it, and my monthly payments are less than they would have been with an apartment.
If you buy smart with a substantial down payment, don't over-extend your housing budget, and stay for 5-7 years, chances are you will be ok. People got into trouble with the 0 down loans, and everyone who had a pulse qualified.
Although today's lending standards are quite strict. people buying today are better off financially than those who bought at the peak.
Our inclination is that due to the hot market that we've been experiencing in the San Diego market and the shortage of inventory we might see pent up sellers starting to place their properties on the market to the point that we could see a glut and actually see prices start to stabilize somewhat in the coming months.
If you're selling your home now might be the time to get it on the market and beat the anticipated glut in order realize your best possible price point. If, on the other hand, you desire to purchase you just may want to wait a little closer to summer whence there will be an increase in inventory offering up a broader selection and more competitive price points.
Just another perspective to chew on. However, regardless of whether you're buying or selling you will want to work with an experienced RE professional. We are a family owned and operated real estate broker, general contractor, manufactured home dealer and interior design one stop, turnkey business with over 100 years of experience in the San Diego Market.
Feel free to log onto any/all of our very user friendly websites:
http://www.tagrealestatesales.com http://www.chadofalltrades.com http://www.intimatelivinginteriors.com
Or contact me anytime at 760 815-6977 email: email@example.com
However, given the current shortage in inventory throughout San Diego, I would use the strategy of listing in late June - early July, and buying in late November - early December.
Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506