One of the most popular and most reliable business in the market is the real estate. It has been gaining popularity over the years and has been among the most reliable business until. From 2012 to 2013, it has been reported that a total of $68.2 billion was spent by international buyers on real estate in the United States.
Given the reality that real estate is a good business, when can you say that it is the best time to buy and sell a real estate property? Is there a good time to do real estate business? If there is, what are the signs? Knowing the signs and the best time can help you save a lot of time, money and effort. Here are some of the tips.
Best month to make an offer
There is a good time to make an offer and it falls on January. People are not driven to buy a property or anything else when the weather is cold and bad. This means that the competition is low. Sellers are also more motivated during winter season because of the holidays. This is because of the fact that the holidays may be the most fun tie of the year but it is also the time of the year where expenses are high. So sellers are more likely to sell more.
Best day of the month
If there is a best month to make an offer, there is also a best day of the month. And the best day of the month would be the first Tuesday of the month. This is the day when home owners usually start to get anxious about his house.
Best season to sell
Spring breaks are often the times when people earn a lot. They get tax refunds and get a good day’s pay. Many of the purchases made during the spring season are paid in full. To maximize the opportunity and the good timing of selling a property, better know some tips. Studies have shown that people usually think that precise prices are relatively lower than those that have already been rounded off. For this reason, sellers should not price their house with a zero at the last digit.
If there is a best day of the month, there is also a best day of the week. Listing your house on a Thursday gets you two days closer to the most important day in Real Estate which is Saturday. The fewer the days that your house gets to be shown on the market, the better the chance that it gets sold on a full price. So if your house isn’t sold by Saturday, when the next Saturday comes, it will still fall under a single-digit number which is nine days. There is always a trick about single digit numbers. It always gives the impression that it is still small.
Stop renting and start buying a house
If the cost of buying a house at a full price is equal to renting a house paid monthly, it would be wiser to buy a house. Or even if the price is slightly higher, buying a house is still wiser rather than paying a monthly rent for a lifetime. When you buy a house, the house gets to be yours for a lifetime.
When you rent a house, you pay for the rent of a house that will not be yours. But when it comes to knowing when the best time is, you first have to know the rent ratio. How is it determined? You can determine it by dividing the asking price and getting the difference. If the rent ratio is more than 20, buying a house is not yet a good time.
If the ratio, on the other hand, is closer to ten, it is safe to buy. Knowing the best times can help lessen the risk in buying and selling the house. Some real estate agents believe that there is no exact best time to do so but getting to know these things can help lessen the risks.
Are you a buyer or a seller?
Would you agree with the tips?
When do you think is the best time to buy and sell a house?