nyc BLOG estate

nyc BLOG estate

It is Best to Buy and Sell in the Same Market

The best time to buy and sell real estate is when you need to!'BULL'
In real estate it is very difficult to time the market. Markets go in cycles there are tops and bottoms. Bottoms are usually created by pessimism and negativity. Tops are created by “irrational exuberance"
To quote Jim Cramer on CNBC's Mad Money “Bears make money – Bulls make money but Pigs get slaughtered." The Fed created the boom in housing by lowering interest rates then they ended it by raising interest rates to take “the froth” out of the housing market. Maybe they will change their mind again.
When everyone is bearish based on sentiment rather than the facts, that is an indication not to listen to everyone and a great strategy would be to BUY! When everyone is bullish and buying in a frenzy that is an indication to SELL! However, the only real reason to Buy or Sell real estate is when you need to or want to not because of the market.
Real estate is local. The local economy effects the market. No matter what the market condition it still makes sense to Buy and Sell in the same market.
If you Buy and Sell in a sellers market, you sold high and bought high it equals out. If you Buy and Sell in a buyers market, you might get less for your home than your neighbor who sold a year ago but you will get your new home for less than If you bought it last year.
If you are selling a $400,000 home and the market is down 10% you will lose $40,000. If you are upgrading to a $600,000 home you will save $60,000.
It all equals out. Over the long haul real estate is not only a great investment but a wonderful place to live and enjoy.

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