2 comments | Tuesday, November 1, 2011
The time to buy is much more than just statistics and trends
By Kala Bell
In the world of real estate, agents are sometimes perceived to be rather vague with the public on the topic of a good buying time. Truth be told, there isn’t one stretch of time that will be perfect for every potential home buyer, even if the prices are good and sales are up. A time of year when sales are thriving and prices are down may work for some, while other prospective home owners may take a liking to another time of year.
Buyers should be taking a number of factors into consideration during the time of looking for a new house. The factors could include things like financing, location, market trends, and income. Plenty of other factors will often come into play during the buying process, but making a decision can usually come off of a few different things that are important to the buyers.
Often times, trends and statistics play a huge part in the decision process, as prices often fluctuate. When it comes to Sacramento area real estate, median prices took a steep fall in 2007-2008 and have stayed steady from 2009-2011 for the most part. Sacramento’s median sale price has sat around $190,000. The average sale prices have also showed good stability by staying put. The Sacramento area rent has slowly climbed throughout the year, possibly influencing those on the fence between a lease and buying. Sacramento apartments are sitting around $975 a month, going up over $100 in the last year alone.
For the past three years, the median prices have stayed mostly steady, even experiencing a few small falls and rises. Some experts feel that resurgence could take place in the real estate market next year, even though a good prediction is tough to come by. Even with the skepticism from some, the Sacramento market could experience a small resurgence and rise from the steady numbers that have come in through the past few years.
A good signal for buyers is the overall rise in inventory and listings over the past few years in Sacramento. Even though the availability of medium priced homes has gone down, the Sacramento area does still have a plenty of listings for prospective buyers.
Potential home buyers should continue to list off a main set of factors and considerations during the buying process. The statistics are certain to fluctuate over time, as figures such as sales and inventory can often change from month to month. In real estate, determining when a good time to buy is is more so about the situation of the individual rather than the recent prices and availability. If a family or potential buyer goes into the process by staking out the needs and factors which best apply to them, they will more than likely make a good choice on a home in the long run.
Kala Bell is a free lance columnist. She can be reached at kalabell86@gmail.com
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