Does the chaos of the holidays ever make you wish that life had an easy button?! We get it! We often hear the same thing said about real estate, and depending on the market, people often assume that it is either an easy time to buy or an easy time to sell.
But let’s keep it real… there is very little black and white in any industry, especially housing! While the general consensus revealed below courtesy of a Google poll predicates that it’s harder to buy than sell in this second half of the year, we want to provide some clarity & considerations to this perspective.
#1: There are diverse micro market trends – especially within Silicon Valley! There are some neighborhoods that are still experiencing multiple offers – and some that are experiencing extended days on market and price reductions. The ease of a sale or purchase will largely depend on competition and inventory on a VERY local level.
#2: Given the micro market trends above – it can be a good time to buy IF your desired locale has some inventory (and before the spring buyer competition emerges after the Super Bowl!) – OR can be a good time to sell if you live in one of the most desirable parts of the Bay Area where buyer eyes are always open.
#3: Take your timing into account. You have the least leverage when you are on the tightest timeline. Sellers listing in winter often have reasons to sell now – and buyers who can accommodate their timeframe will be at the top of the offer list!
#4: Remember that the ‘spring’ market actually starts in February. If you are planning to sell in spring and think you have a ton of time to prepare – think again! Anyone wanting to sell in spring should have their listing preparation checklist ready as of yesterday (or if you work with us – we have got you covered with our white glove service!).
#5: The easiest and hardest parts of buying and selling are not limited to the market – but also depend on your situation.
BUYERS: Are you pre-approved for a loan and aware of how that qualifying amount changes based on changing interest rates? Do you know NOT to buy a new car while home shopping? If you get a new job in the New Year, let your lender know ASAP! Can you paper trail that down payment – even if it was a Christmas gift from great Aunt Linda?
SELLERS: Has your agent set realistic expectations about the pros and cons of various pricing strategies? Do you know when the highest offer is not always the best offer? Have you identified your next property and is it contingent on the sale of this home?
While the hardest parts of buying and selling may be as gray as the skies this month… we are here to help you weather any real estate questions and timelines that you have! Please do not hesitate to reach out and share your short- and long-term goals so that we can help you create the path of least resistance to get there!
All our best,
Mark Barber & Sarah Healy
408-291-0072 / 408-290-0730
DRE 01220031 / DRE 02061586