I get asked this question almost every day. People are always wondering if the market has bottomed out or if they should wait longer to purchase - should they buy before the real estate market gets better in the spring.
Timing is everything in real estate, but the most important thing is to buy when you find the property you are looking for at a price you think is a good price. Does that mean you might purchase a villa and it go down $10,000 in value – yes, that could possibly happen. But you never know.
At least once a week I talk to someone who says that they should have sold in 2005, but the market was so strong that they thought they would wait another year – that was a big mistake.
The most important thing is to buy when you are ready to buy and sell when you are ready to sell and don’t try to second guess the market. I’ve been in real estate for almost 30 years and I’m not very successful at 2nd guessing the market.
Enjoy spectacular views from 1097 Lighthouse II Villas
Just listed in the heart of Harbour Town – this beautiful Lighthouse II penthouse is immaculate. Rarely on the market, this is a great opportunity in Sea Pines Plantation.
Two bedrooms were combined to form huge master suite with spectacular bathroom. Details abound in this villa – crown molding, coffered ceilings, teak floors and fabulous views.
James Wedgeworth was recently featured on The Lowcountry Report, produced by local network, WHHI. James gave a quick update on the current real estate market and where he sees the real estate market going in the near future.
There is an old saying in real estate that says “when you are ready to buy, the property you want to buy will not be available at that time.” I find this to be true quite often.
I recently had some clients who were several years away from retirement, but a house came on the market that they absolutely loved. They said, “only if this house would be available in two years” to which I replied that the chances of that happening would be slim to none.
I always tell my clients that if they find the property they are looking for, buy it. It does not matter if it is six months too early, a year too early or a year and a half too early. For years, you will be happy with the decision you have made.
About 15 years ago, I had a client who told me that they always wanted to own a home on S. Calibogue Cay (there are only about eight or nine homes on that street. One came available that was a great buy and he said that he wished it was on the market at a different time. I told him that down the road this house probably would not be available. After some thought, he decided to buy and to this day he is thankful for buying when they did and they love their home.
