When Is A Good Time to Buy Or Sell A Home?

While there’s no crystal ball in real estate, there are some factors that can influence if the time is right to buy or sell a home.  People move based on a change in household size, different schools or to be closer in.  Consider buying or selling when the time is right for you, your family or your lifestyle.  Be careful buying or selling based on your family or friends, as your needs may not be the same.

People also move based on interest rates, the housing market, or to be closer to new developments such as the Reston Town Center Metro station or One Loudoun.  As you can see it’s all about timing.  Have you considered moving in the past year?  If so, take action now! For most people, knowing when to buy or sell comes down to numbers.  Do the research to know if it is a good time to buy or sell.  If it’s not, you have the ability to save money, pay down debt, make home repairs and/or upgrades, and even eliminate clutter in your home.  Below are steps to get you started:

If you are buying a home.

  • Contact the Bank, Credit Union or Lender to prequalify or get pre approved (depends on the Lender).  Have two (2) years of tax returns, two (2) months of paystubs and all current bills.    
  • Determine the city/neighborhood.    
  • Once you have a loan amount, you can make a decision to proceed with buying a home.  If you don’t like the loan amount, at least you have an idea of what you can afford, as well as, if you need to save more money and/or pay down debt.

If you are selling a home.

  • Request a pay off from your current Lender.
  • Request a Comparative Market Analysis (CMA).  The CMA will allow you to choose a listing price that is competitive with the other homes for sale in the neighborhood.  Pricing your home too high could result in chasing the market, which may cause you to lower the listing price.    
  • Determine if you will have a profit when selling your home.  If there is not a profit that would be considered a short sale.     
  • Determine the new city/neighborhood.   
  • If possible, sell your home prior to buying a new home.

To search for homes or to request a CMA you may visit metrorealty360.com.  If you have questions or would like to schedule an appointment to discuss your real estate needs, you may reach us at (202) 239-5116 or email us at sales@metrorealty360.com.

Metro Realty 360 is a boutique, full service Real Estate Brokerage for the discerning clientele, whether you are a Buyer, Seller or Real Estate Investor. We specialize in resolving complex real estate deals including but not limited to:  short sales, foreclosures and deals involving bankruptcy.

Share this Post!

Related post