Timing is everything

Are you tired of all the headaches and stress associated with selling property? Me too, but I can't help you there.
I can, however, share with you some of the tips handed down to me by the experts. One question that is often asked - when is the best time to sell?

There really is no predetermined "best" time to sell; however, looking at current market trends may help you get closer to making that decision.
Seasonal influences

Most market trend studies indicate that the real estate market is seasonal. It tends to pick up in February with a finale in May and June. The summer is followed by a slow period, which picks up briefly in the fall. November and December tend to be slower months; however, smart buyers wait until the slow season to look for bargains.

It is not difficult to figure out why people choose certain times of the year to look and buy. In November and December, it is cold outside. The last thing on your mind is moving heavy furniture with numb fingers. Plus, you are trying to save money for Christmas presents and that trip to visit the folks. As for May and June, the children are out of school for the summer, and these months for planning a move are the least disruptive to their lifestyle. Not to mention, you can feel your fingers in the summer.
Other influences

Seasons only have a small impact on buyers' willingness to buy. If you live in a temperate climate, this would have no influence whatsoever. Those of us in the Florida Panhandle experience a very mild winter compared to other parts of the country; therefore, this should not be the only determination made when deciding when to sell your home.

Many economic factors must be weighed when choosing the right time to sell, such as current trends in market competition, your personal economic situation, supply and demand, national and local economy, and interest rates.
Market competition

Sellers usually do well when there is not a lot of competition from other sellers on the market. If your home is only one of a few houses on the market in the buyer's price range, chances are that you will have better luck than if there were 100. In many cases when market competition is down, buyers tend to settle on houses that do not fit their specifications.

Do not completely rule out the idea of competition, though. A little competition is a good thing. Think about gas prices. When one station raises the price, they all go up. This can be the advantage with competition. If all of the other houses in the area are selling for $10,000 more than you were planning to list the house, you may have the opportunity to make a little extra cash.
Personal economic situation

Where you stand financially is the most important factor in deciding when to sell. Several issues come into play, such as career, family, personal assets, among others. Let's face it - even if the market says sell that does not necessarily mean that you are in a position to do so. Or, maybe the market says not to sell. Sometimes your personal economic situation will have the most sway on when to list your property.
Supply and demand

Fluctuations in supply and demand can cause you to gain or lose thousands of dollars in a matter of seconds. If a large number of houses have been up for sale for several months, this is an indicator that demand may be down and supply is up. You may have to sacrifice thousands of dollars just to sell a house in a slow market. If houses are selling as soon as they go up for sale, the demand is most likely up and supply is down. This is an ideal time to sell. You can expect to get top dollar or more.
National economy

Trends in the national economy play a big role in the market. For example, recessions are bound to happen surrounding wars and natural disasters. Buyers tend to take a break from purchasing during a recession for fear of losing everything they already have. Money is tight and no one wants to spend anything. On the other hand, when the economy is booming, you can get more money than your property is worth.
Local economy

Overall economic conditions in your area influence local real estate activity. If unemployment is on a rise, this could have a negative impact on the local market. However, if new businesses are opening up shop, this could have a positive effect.
Interest rates

Interest rates play an important role in real estate activity. If the interest rates are low, housing is more affordable. First-time homebuyers tend to take notice of low interest rates. Low rates also catch the eye of homeowners wishing to upgrade. High interest rates tend to freeze the real estate market.
In conclusion, timing is everything!

Selling real estate is a hit or miss adventure. As with any adventure, good or bad, timing is everything. If you have the freedom to choose when to sell, it is not a bad idea to get in touch with a realtor or other financial expert for some needed advice on how to analyze the economy, or perhaps, ask for a list of houses that recently sold in your area.

Timing is everything - make it count.