In the investment world, they always say, "you can't time the stock market," right? But if you think of your real estate as an investment, then you MUST time that market to make a profit.
I have been in this business for about 11 years now, and it's been a buyer's market ever since I began in 2010. I have heard sellers moan for years about how they "always lose in real estate" or "never make a profit." Here we are in 2021, in this amazing SELLER's market, and what are people doing, not selling. When they can finally realize a GAIN, most likely. This makes me think of something one of my mentors and best friends used to say all the time, "When people are running away from something, you should be running toward it. "That is one of the philosophies of many he practiced that made him a force of nature in entrepreneurship and investing.* So why is no one selling?
Number 1 Reason: "Because there is nowhere to go."
My Rebuttal: Yes, there is someplace to go, but you must hire a creative, full-time real estate broker with much experience and an extensive network of past clients. Case in point: I got a call from a couple that lost out on a house to one of my buyers who had hired me to help them find what they wanted with a Buyer Broker Agreement. (Call me to learn more about this.) Our buyers won the competitive bid on the house, so the couple that lost out called me to help them. This weekend they got to be the first ones to view a new listing before it hit the market, and they have found their spot on the lake now.
In order to make a profit in a SELLER'S market, you have to take a little risk or even be a bit inconvenienced. You might sell and rent temporarily if your very strong agent can find you a place. Or your very strong agent finds you a new home that you love on or off the market. They have to earn their keep. Anyone can see what's listed, but a top-shelf buyer's broker provides much more value by actually digging and finding what you want. I and we do it all the time for our clients. We have some special techniques that really work, so call me if you want to try and SELL HIGH in real estate.
Number 2 Reason: "But if I sell high, then I will have to buy high."
My Rebuttal: "Take your choice. Would you rather SELL LOW and BUY LOW? It is usually one or the other. But what I have done in the past is to sell when at the top of the market, then take our time to find something at a fair price on or off-market, and it's a great time to downsize. Take your profits and pay at the top of the market but in a lower price range. You can't really SELL HIGH and BUY LOW unless you can wait out the market. But if you wait and do nothing in a great SELLER's market, your investment property could tank too. Look at all those that thought about selling in 07, but delayed and their property values just tanked by 08-09. This strategy has really worked for me in the past. Look at what you can make on your property sale, then ask yourself, "what does it take me to earn that amount of money and after paying income taxes too?" You might see a great return on your real estate investment now in this seller's market.
So have us out to assess your property's value now if you would consider downsizing. My great team and I will be with you every step, helping you with the whole process and transition to temporary housing (I have some great spots now not on the market to rent) or finding you a new place to buy off the market. We know how to finesse your buyer's closing and possession dates, too, so don't stress about that either. I am making appointments now these first two weeks of February.
Best,
Lynn
