Everyone wants to sell high and buy low, but unless you are an investor, this may not be achieved all the time. The changes in the state of the economy can affect property prices and the cost of living in general. For example, when the economy is booming and interest rates are low, demand for property is generally high and this in turn pushes prices up. In the same way, when inflation is low, investors may be more attracted to the stock market that could also lower the demand in the property market. When the economy situation alters in a specific sector, for instances when a factory shuts down, the costs of quarters in this area decreases. When the economy of a region picks up, the interest charges will possibly decrease and the demand for assets increase.
By traditions, it is better to sell a property during the beginning of the year. However other factors has changed this traditions For example, if an area is well-known is popular with expatriate financiers all year round, then property is continuously in demand. In areas where there are a limited number of houses being sold, the costs are normally high in comparison with the areas having more houses on the market. Look for the advice of a real estate agent who is familiar with the region and the trends affecting it.
As the sale of your property is likely to be the biggest transaction you may ever make in your life, don’t sell in haste! If not, you may accept a price lower than the true value of your home . Do your homework and find out at what pricse those similar houses in your area have been transacted, how many units have been sold and how many listings have expired. (if you need such info, I will be able to provide real time data). Unless you are really certain of your choice to sell, do not sell. On every occasion when you are in suspicion about something, the best choice is not to do it or be sorry for it later.