Five tips to help you decide when the right time to move is.
Buyers and sellers often ask when the right time to enter the real estate market is. We’re currently experiencing a crazy market, so I’m sharing a few things to consider to help you decide when the right time is for you and your family to enter the market:
1. What’s your motivation? Usually, people buy or sell a home because something major has happened in their lives. That could mean they’ve been married, had a baby, retired, are relocating for a job, etc. The other question to ask yourself is what your finances look like. Have they dramatically increased or decreased? Is that another motivating factor?
2. Every market is different. We live in and love the Hill Country, and right now, our market is very strong. Many people are moving here from other cities or states for our higher standard of living. However, you need to evaluate your specific market at the time you’re thinking about moving.
You also need to consider the interest rates. Though we’ve enjoyed great interest rates recently, we’re starting to see them rise. Rates will impact your sales price and buying price point.
“Many people are moving here from other cities or states to get a better quality of life.”
3. Seasonality. You may have a personal preference of when you want to buy or sell. For example, you might want to move in the summer when your kids are out of school. As far as the Hill Country goes, our market is fairly strong throughout the entire year, except maybe from Thanksgiving through mid-January.
4. Sellers should always put their best foot forward. Even if you’re putting your house on the market in the winter, make sure your landscaping is spruced up. You’ll leave money on the table if your house isn’t in top condition. Work with a real estate agent that will help you decide what’s needed before selling.
5. Money isn’t everything. This is my most important tip today. It’s not all about getting the most money for your house. It’s more about making sure you’re making good life decisions both for your finances and family. Real estate is many different things; it’s physical, it’s difficult to move, and it’s emotionally stressful. Ensure every piece fits together well before jumping into the market.
If you have questions about when the right time is to enter the market or anything else, call or email us. We would love to speak with you. Also, let us know what you want to hear about in our future blog posts. We want to make videos that are helpful for you.
Here’s what you need to know to navigate our current market.
What’s happening in our real estate market? Everyone knows things have been pretty crazy lately, but what does that mean for you? Today we want to take a look at our local market and let you know how you can best navigate it.
The defining feature of our market is our low inventory. Because of it, we’re in a very strong seller’s market, and we have been for some time. You pretty much have to go back to the last crash to find a time with plenty of inventory. After 2008, builders stopped building as many homes to hedge against another downturn, and we’re still feeling the effects today. The pandemic has only exacerbated the issue since people from the cities have been flooding into the Texas Hill Country.
“Buying a home in the Texas Hill Country is a very stable investment.”
To put things into perspective, we currently have just one month of inventory available. This means that if no new homes entered the market, our total supply would run out in 30 days. The Texas Hill Country generally has between eight and 12 months of inventory, but things have changed since 2020.
Because our seller’s market is so strong, many buyers want to know if they’re overpaying. Let us put it this way: Our area never has big dips in home values. Houses appreciate slowly but surely, and when a downturn hits the rest of the market, values level out instead of crashing. This makes buying a home in the Texas Hill Country a very stable investment. On top of that, we’ve been outpacing our normal rate of appreciation for the last two years, and there’s nothing on the horizon that makes us think that will change anytime soon.
The bottom line is that now is a great time to buy. As homes continue to appreciate, the sooner you buy, the better. For example, houses increased between 10% and 12% in 2021, and we anticipate this year to be the same. We know it’s frustrating to buy right now, so make sure you hire an experienced real estate team to go to bat for you.
If you are looking to buy or sell or have any real estate-related questions, please call or email us. We’d love to help!