‘Tis the season, but is it the season to buy a home? On this week’s episode of Escrow Out Loud, our San Francisco Real Estate podcast, we talk about timing and if there is such a thing as the perfect time to buy or sell a house.
So, when is a good time to buy or sell? A somewhat flippant answer would be something like, 8 years ago, and while the property downturn was a great time to buy in hindsight, a more practical answer is, it is ALWAYS the right time to buy or sell.
The reason this question gets asked often is that people tend to think that there is a certain time of the year when they will get the best price. The reality for the San Francisco property market is that on the whole there is a general upward trend in house prices. It is true that during the November and December holiday season there is usually a lot less inventory to choose from and the sellers may be particularly motivated to sell by a certain date – this does not mean reduced prices. So, while inventory changes by season the price doesn’t. There are no Black Friday house sales!
While in theory, the best time to buy is when nobody else wants to, in practice, the right time is when you find the house you like or when life events dictate that it’s time!
Matt and Britton also chat about the wonders of real estate reality shows. The biggest issue with these is the unrealistic expectations they create. While Britton will occasionally indulge in some real estate related reality TV, Matt has an aversion to their staged nature. Britton manages to convince Matt to give the Property Brothers a try, though!
Happy holidays everyone!