When to Play a Waiting Game in the Real Estate Market?
The best part of playing in the real estate market is the waiting game that is much like the silence before the final match. This waiting game is the storm in brewing that will go off in the year 2010. Most experts predict that after the markets touch the bottom this year with values declining at 40-50%, the commercial real estate markets will jump back in and this is when the real waiting game will really pay off. The real question however that remains is when you need to play such a waiting game in the real estate market?
Signs to know when to play the waiting game for the sellers:
- 1.One clear sign is the unemployment levels. Unless the unemployment issues are at large, you should continue to play the waiting game. Only after the unemployment issues are solved and new recruitments take place that more office space would be in need and that is the time you can make that big sale deed.
- 2.Another direct signal that will tell you when to join the waiting game is to wait till the market has reached its deep bottom patch and you can continue playing the waiting game till that time. Once the market has reached this level, there will be an obvious dip into the water by major investors of the market and you can be assured that the big players are ready to place their bets.
Times when you can join the Waiting Game:
Some of these points can help you decide whether joining in the waiting game will pay off the results you expect:
- 1.Spring is perhaps the best time to sell your house. This is because your house will look its best during this period and you are sure to get the best prize for your house at this time of the year.
- 2.Earlier where it was believed that listing your property for long on the market could diminish its signs of selling off well. However today this belief has changed for good. Now the longer you make your presence in the market, the better you have chances of being noticed by the apt buyer.
- 3.If you anticipate any kind of government incentive to perk up your chances of making a better profit in the real estate market, you could perhaps for such incentives to come through.
- 4.If there are chances of a fall in the mortgage rates or interest rates in near future, perhaps joining in the waiting game really makes sense.
- 5.Remember that there is no perfect house. Yet there is no harm in keeping hunting for the one that suits you best. If the conditions are not favorable, you could spend more time before making the investment by exploring more possibilities since these are like endless in the real estate market.
Statistics reveal that nearly 50% of the buyers are purposefully postponing their purchase keeping the dropping incomes in mind. They anticipate that the market will continue to fall for some time and hence they plan to play the waiting game for some more time till they are sure to reap huge profits.
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