Today I’d like to give you a quick rundown on the market cycle and explain how it can impact you as a home buyer or seller.
The first thing to understand about the market cycle is that there are four different possibilities for markets at any given time. There is the bottom of the market, an inclining market, the top of the market, and a declining market.
We have to understand where we’ve been to figure out where we’re going. None of us have a crystal ball, but what we can do is look at the market’s history:
In 2009, we were at the bottom of the marketplace. From 2009 to 2013, we saw pretty major appreciation in home values—in fact, we regained all of the losses that we had taken previously from the crash of 2006 to 2009. So from 2013 to today, we’ve been pretty much at the top of the market, despite the micro-pockets in the Northern Virginia area.
Why does this matter to you? If you’re thinking of selling your home in the next nine months to a year, we need to talk now. Winter is coming, and with that comes a seasonal downshift. Right now, it looks like that seasonal downshift is going to happen at the same time as an economic decline, so if you want to be able to reap the highest price on the sale of your property, contact me now and I’d be happy to talk with you about what’s happening in the marketplace and how that may impact you.
In the meantime, if you have any questions about buying or selling a home, don’t hesitate to reach out to me by phone or email. Looking forward to hearing from you!