Early February is a great time to get started. The Buyers are out and the majority of Sellers are not. In Ontario, changing seasons and the weather can affect buyer demand.
For example, fewer buyers may be out looking at homes during the cold and snowy winter months, but as a seller you will be competing with fewer homes on the market and the motivation of the buyers is generally higher. Spring tends to be an attractive time for real estate sales as gardens start to look nice again and therefore more homes come on the market thus increasing the competition for a Seller. Getting a jump on the crowd is generally a good idea.
The flood gates are starting to open in Burlington, Ontario. This past several months has been a time of uncertainty and alot of people have been fence sitting, watching and waiting. The most common reasons why people decide to sell their homes include changes to their financial status, an employment transfer, a growing or "redefining" of family or retirement. Today's low interest rates combined with all of the government grants and rebates have also made it attractive for many homeowners to "move up" to a larger home.
The condominium market has become extremely popular particularly in the Downtown Burlington Lakefront District.
Real estate is subject to law of supply and demand which creates cycles in the market.
A shortage of homes generally means price rise. This cycle is commonly known as a "Sellers' Market." Alternately, a surplus of homes can result in a slowdown in home sales or even a reduction in prices and is often referred to as a "Buyers' Market".
One of the most important services a REALTOR provides is market analysis.
A REALTOR can give you up-to-date information on
what economic and other factors are impacting current market conditions. Which market is best?
Obviously, you will want to sell your home quickly and for the highest possible price, as "seamlessly" as possible.
In a sellers' market, you often see many buyers competing for the same house resulting in top prices...sometimes even over the original asking price. However, if you are planning to purchase another home after the sale, chances are you will be competing in the same sellers' market faced with higher prices. In a buyers' market you may find you have to wait longer to sell your home for a fair price. The upside to selling your home in a buyers' market is you will have more selection and pricing options when you go looking for your new property. Although the current market cycle should influence your decision to sell, remember there are trade-offs to selling in either a buyers' or sellers' market. Some people are concerned that if they trade up to a larger home in a buyers' market they will lose some of their home's equity in the sale. But, while you may sell your home at a "discount", it's likely you will purchase your larger home at an even greater discount. The advantage is you then own a larger asset with even greater potential for appreciation. The key factor is buying and selling in the "same market".
Buyers with school-aged children like to purchase in the spring so they can move in over the summer. However, homes sell throughout the year so think of the season as only one factor in deciding when to sell your home. Whatever your reason, selling a house is a complicated procedure with a large amount of liability attached, so it makes sense to have a real estate professional on your side. Because selling a home involves large sums of money and complicated legal documents, a REALTOR's expertise can help a homeowner avoid costly mistakes. There are many important issues that come into play when deciding to sell your home.
A WE can help you to determine if now is the best time for you. |
