Assuming you haven't been hiding under a rock these past couple of months, you've most likely heard about Boston's recent yet rapid real estate upswing of late. Aside from our occasional posts about the property sector's upswing post the recession, other real estate aggregator agencies like Zillow and Trulia have validated that the trend really is here to stay - and even get better throughout the coming months, with sales slated to be more stable than they were in the past three years. All of this begs the question: is it finally time for me to sell? Should I jump in on the bandwagon and list my home or property and cash in on my investment?
Well, there are a couple of ways we can answer - rather discuss, this question. If it's a quick sale you're gunning for, then perhaps waiting is your best bet. This might seem ironic since 'quick' and 'wait' are opposites of each other, but in the real estate industry, quick doesn't necessarily translate to fast. The reason why waiting might be wise is because it's traditionally during Spring and Summer that home sales really rev up. The weather, financial release from tax season, job turnover, and start of the school year, are most often the reasons why some buyers would prefer to purchase middle of the year. During spring/summer, buyers are treated to full inventories of apartments, condominiums, and homes that are otherwise idle during the beginning of the year, hence more variety to choose from and perhaps more importantly, more flexibility in terms of price negotiation.
However, if your aim is to get the best return on your investment, we'll recommend listing during the dead months of the year. Why? Because buyers are still out there. This is especially the case now that the industry is picking up -- most investors treat this as an early trading period; think of the season as being the "IPO" phase of a stock that's about to skyrocket when it trades publicly. There isn't a lot of competition out there (i.e. inventories are low) so you can practically but reasonably dictate your own price, especially if you're property is in a market that's projected to go nowhere but up. Admittedly, this reasoning will mostly likely attract sharks out there that want to make a hefty profit.
The bottom line is that there are lots of buyers out there looking for properties that are otherwise unavailable until Spring and Summer. Capitalize on them and list your property now, strategically avoiding the busy season when you have less persuasion power over the property market.