Did you ever wonder what similarities existed between cooking and real estate? Every good cook knows that “The best time to fry fish is when the oil is hot!” This makes a great deal of sense when you consider how good your dinner will be if you throw fish into a pan of cold oil, it doesn’t cook and it spoils. This expression is designed to point out how important timing is to the success of any project. No one disputes the fact that you can’t make a good meal out of spoiled fish, but it’s not just the freshness of the fish that matters. It’s also the timing of your cooking that makes for a sensational meal.
If you think about properties listed for sale, the same principal applies. You can have the most beautiful home in the world, but if the timing is bad and nobody is buying, the beauty of your home won’t make a difference. On the other hand, if you have a beautiful home and everybody is buying, the sale of your property becomes a sure thing, much like a enjoying great fish at dinner. The only question that should remain for homeowners that want to sell a good home should be: “Is the timing right for me to sell my home now?” If it is, there should be no business reason not to list your property and sell it now, while like “oil”, the real estate market is “Hot”
How can we determine whether the timing is right? Sometimes, that’s easier than you think. Consider the following:
- The Stock Market is reaching all-time highs almost on a daily basis, reflecting more consumer confidence.
- Inventory levels are low so that there is very little competition from other sellers.
- In general, people are starting to spend again. The proof lies in the fact that consumer debt is rising.
- Prices have started to recover with double-digit increases seen in many metropolitan areas.
- With the lowest interest rates in nearly 30 years and an improving economy, the conditions are perfect for buyers.
- Most importantly, your time is priceless. You can’t move on to the next phase of your life until your housing situation is resolved.
It may also be helpful to consider what happens to fish if you wait too long to fry it. The oil dries up and the fish burns making it undesirable. It’s possible the same thing may happen to homeowners selling their property. The market could dry up, ruining their best chance for a great meal!