Real estate rises and falls depending on the markets and the economy and while that’s definitely consistent, home values and prices are not. There’s always an element of give-and-take that goes into keeping interest and demand flowing in harmony with one another in the real estate market. When investing in property, whether on or occupied or investment purposes the endgame is the same. You want to have a property with a value that’s consistently increasing.
Having a real estate agent that is not only knowledgeable about the area in which you are buying or selling but experience, long-term, in the real estate game is priceless. Real estate agents can take all the tests in the world, having someone that has the experience of several hundred real estate transactions under their belt is really one of the most valuable things a buyer or seller can use.
Before buying or selling, look around at the market. What is the market not only in your city but in your neighborhood look like? Are there a lot of real estate for sale signs or just one or two scattered throughout your community? The more signs, the lower the values might be. How does the market around you thrive and function? Is it a good time to buy or sell? Markets can literally change from one community to another and from month-to-month, so selling last month might have been better than this month or vice versa.
Consider what your next relocation looks like.
Buying or even selling real estate is all about some amount of risk. There are a variety of factors that contribute to the real estate market so buying quit everything matches up is really the key to getting a good deal or selling at the opportune time.
Set realistic expectations.
If you think you’re going to sell for $20,000 over market value simply because you have something your neighbor may not, may not be a realistic expectation. Some of the best properties in the world stay on the market for years because of poorly staged properties, location, initial price, or market.
Timing is everything.
It can be almost impossible to find the exact right time to buy or sell, but using a real estate agent that is well-versed in the market, specifically in your community or neighborhood will put you ahead of the game. You certainly would want to use an agent that is not only out of your city but out of your county as well. Markets, especially those around the Seattle, Bellevue, Mercer Island, and Kirkland area change on a dime and a distance of just 5 miles can mean the difference of $50,000 or more.