When is the Right Time to Buy or Sell?

“Be fearful when others are greedy and greedy when others are fearful.”
Warren Buffet, Chairman of Berkshire Hathaway and possibly the world’s most successful investor.

Scenario #1
• Houses selling same day they hit the market…
• With multiple offers being submitted…
• Offers are coming in without buyer having even seen the house…
• Home values are appreciating by double-digits.

Scenario #2
• Interest rates are dropping in an attempt to stimulate demand…
• Homes are sitting on the market 2-3 months, creating an inventory of supply…
• Less competition as other buyers are more hesitant…
• Homes are appreciating at a modest rate.

Most people choose to jump in under Scenario #1 because they are following others – other buyers, what the media is reporting, thinking they need to get in on the “hot” market. However if Warren Buffet is right, the best opportunity if you are looking to optimize your return on investment is to buy under Scenario #2.

Upstate New York has been fortunate to remain fairly steady throughout the housing boom (and bust) experienced in parts of the country. If you are looking to grow your investment the time to buy real estate is not when the market is going gangbusters; the best time to buy is in a market like today. The housing market, just like the overall economy, runs in cycles. When supply is low and demand is high, prices increase. The result? Good for sellers, not as good for buyers.

Today, we have the perfect climate here in Rochester if you are looking to buy....and also for those looking to sell as home values are holding steady in our market. We have a steady supply of homes coming on the market, interest rates remain low and prices in our region are very affordable.

So if you’re thinking of buying a home....or selling....don’t let the negative press turn you away. Call a Nothnagle agent today or 866-295-MOVE to get started!