How to decide if you should try to time the market for a cheaper price.
Are you waiting for prices to drop significantly before you buy a house? That is a common mentality nowadays, especially with interest rates as high as they are. No one can say exactly what will happen in the future, but many are hoping that values will crash so they can swoop in and buy properties for low prices. Should you wait to buy a house? Is it worth the risk?
There are multiple sides to this discussion, as with any issue. The bottom line is you have to decide how much you’re willing to risk. A lot of factors go into pricing a house, including interest rates, the state of the economy, the season of the year, how motivated the seller is, and more. It’s about more than just trying to predict a crash.
According to experts, fluctuation depends on the needs of the market. In the Phoenix market, we know that real estate values are continuing to increase overall. Therefore, many people say that trying to time the market to buy at the lowest possible point is often a fool’s game. The market changes often and quickly, so many are convinced that buying when it’s right for you and your family is the best choice. You never know when the peak is going to end, and you don’t want to have any regrets. Hindsight is the only thing that’s 20/20.
“How to decide if you should try to time the market for a cheaper price.”
Currently, there are a lot of homes on the market, and sellers are getting more motivated. If you wait to buy, you’re missing a great opportunity. If prices do go down a bit, there will just be more competition, which will mean you’ll have to pay more anyways.
This is a lot of information to take in, so if you have any questions or want to talk with me about your specific situation, don’t hesitate to reach out. I would love to create a strategy with you that works best for you and your family. Call or email me anytime. I look forward to hearing from you.
