How to Navigate Real Estate Market Fluctuations to Benefit Your Home Sale or Purchase
There are only two certainties in the world, change, and real estate market fluctuations. While neither can be controlled and can have a significant impact on an individual’s financial position, being prepared is always the best solution to negate the side effects of change.
Having spent over a decade in the real estate sector, I want to help you understand how change can affect you irrespective of whether you are looking to buy or sell a house or rent a property.
Over the past eleven years, I’ve noticed that the real estate market can change virtually on a dime. We can be up, a little down or balanced. However, in real estate, there is a consistent groove upward year over year. Real estate will never let you down if you buy and sell smart, as it is your biggest and most consistent money maker.
There is always a steady demand and supply for houses, but what really makes things unpredictable are interest rates, elections, and the stock market. These three areas, individually, as well as collectively, can have a huge impact and create uncertainty in the real estate market. Thankfully, this uncertainty is more like a hiccup, and the market does eventually correct itself.
Traditionally, the real estate market witnesses a slow down in January. A couple of things play into this slow beginning to the year. Primarily, people naturally overspend in December and nest in January. Secondly, if you pay attention to the news, you will notice that all stock market rates are low, and there is the talk of rate increases as “professionals” provide forecasts the whole year in the first week of January. This creates some anxiety among buyers and sellers.
What you must be mindful of is that what is happening worldwide or in BC or the GTA isn’t necessarily what we are experiencing in Niagara. Despite what you hear on the news, it is still important to discuss your real estate strategy with a professional to see what’s happening in your market specifically. Speak with a real estate agent, mortgage broker and a financial advisor to get a better understanding of what is likely to happen in the next two to three months.
The best way to maneuver around real estate is to have someone in your corner, someone you trust and has your best interest at heart. A full-time agent will know which way to steer you.
As your go-to “Girl”, Christine Gazzola is there to help you put all the elements of the buying or selling process together, to make it an easy process for you. I believe that it is not just about the end result but everything from start to finish that’s important.
If you’re interested in buying or selling a real estate property the best time is when it’s right for YOU. When thinking of purchasing or a selling your home its a scary time but with a full time professional on your side you will never look back with regret.