When you think of selling your home, do you wonder when the best time to sell will be? Do you rely on the market to tell you when you should sell?
If so, stop right there. One of the biggest mistakes a seller can make is chase the market. If it’s your time to sell, then sell.
The reality is, for most homeowners, the fluctuating market doesn’t dictate life changes—personal circumstances do. Whatever your reason is for selling—job change, need to downsize, growing family, etc.—the best time to sell is when you need to.
Renowned financial advisor, David Bach, once said, “Don’t worry about timing the market in real estate. It’s time in the market that will matter for you.”
This statement is so true and here is how it plays out.
I know two different buyers who both bought high in 2006. When the real estate market took a turn for the worst in 2007, one buyer opted for a strategic short sale because projected market trends looked dismal and they thought it was the smart move to make. At the same time, the other buyer chose not to sell even though the value of their home significantly decreased and they owed more on the loan than the house was worth.
Fast forward to 2016, and the buyer who opted for a short sale still doesn’t have the funds to buy a home because home values have fully recovered faster than their ability to save for a down payment. On the other hand, the buyer who decided to stay in their home has built equity over time and is now selling it to move into a bigger house.
What is the takeaway lesson?
Selling your home isn’t about timing the market; it’s about how much time you are in the market. Listing when it makes the most sense based on your circumstances is the best time to sell.
So, when you’re ready to sell your home—sell it! Don’t worry about timing the market.
::: About Aaron Zapata :::
Aaron Zapata is a top-producing REALTOR® in Southern California and owner of IMPACT Properties (formerly Zapata Realty, Inc.). He holds an MBA from Cal State Fullerton and his team closes over $40 Million per year in real estate transactions. If you’d like to contact Aaron about selling or buying a home or improving your real estate career, you can email him at Aaron@AaronZapata.com or call (714) 660-2122. He’d love to hear from you.