In the early part of the 20th Century, Bernard Baruch was one of the largest land owners in New York City, and was widely recognized as one of its wealthiest citizens. Mr. Baruch was often asked how he was able to do so well in his real estate dealings. His answer “It’s simple. I buy when people want to sell and sell when people want to buy” Well, Mr. Baruch would want to be a seller in this real estate market. Houses are selling at remarkable prices and at remarkably short marketing times. In short, a great time to be a seller!
The next question on everyone’s mind is do I sell now or wait? Will my house be worth more if I wait? Well, Mr. Baruch had an answer to that question also. When asked whether a market is continuing to go up or has peaked, his comment was that you can never predict that. If you are happy with what you are receiving, take it and don’t worry about what happens in the future. In fact, he had a name for investors who claimed they could accurately predict the market. He called them “Liars!”
I agree with Mr. Baruch. If it makes sense to sell now, take action now. You have no way of knowing whether the market will be better or worse in a few weeks.
And, by the way, if you are considering buying, interest rates are the best they’ve ever been. In many cases, you can buy and have a payment at or even lower than rent!
As always, our goal is to help you make the best real estate decisions for you and your families.