Expert tips for smart selling and buying in Western New York’s market.

Is now a good time to sell your home? That's a question I'm frequently asked, especially as we move into the late season here in Western New York. My short answer to that is it depends. This hinges on your personal situation and goals, and on where you are going after selling your home—either you plan to purchase another home, or you'll be renting or moving in with someone else without purchasing another home.

Let's focus on selling your home with the intention of buying another. Some individuals try to time the market – seeking to get the best value for their home now to avoid intense competition as a buyer. However, timing the market can be challenging.

Many experts in the mortgage industry anticipate rates decreasing in the coming year. As I mentioned in a previous blog, Barbara Corcoran suggested that if rates drop after the first of the year, there will likely be a surge in buyer competition.

“Having cash from the sale of your current home will significantly strengthen your position if the home you desire receives multiple offers.”

My advice is this: consider listing your home now while the market remains robust, selling it, and retaining the funds. Then, when you're ready to purchase your next home, do so without contingencies. If rates do decrease in the spring and you're in a competitive market, being a non-contingent buyer would be advantageous.

Having cash from the sale of your current home will significantly strengthen your position if the home you desire receives multiple offers. You might negotiate with the buyer to rent back your current home for 30, 60, or even 90 days, allowing you time to find your next home.

Every situation is unique, and I'm eager to discuss your circumstances and how we can assist you. Feel free to call or email me anytime. I look forward to connecting with you to have a conversation about your situation.