Many people mistakenly believe that the best time to sell my house is when the market is hot and there are lots of buyers looking for properties. While it’s true that you’re more likely to sell your property quickly when the market is hot, you’re also likely to get a lower sales price.
The reason for this is simple – there are more sellers than buyers in the market, so buyers can be choosier and they know that they have the upper hand.
As a result, they’ll be looking for properties that are priced lower than what the seller is asking.
On the other hand, if you wait to sell until the market slows down, you may not get as many buyers interested in your property, but the buyers who are interested will be more serious about making an offer.
Think about the “margin of risk” as referenced by Warren Buffet. When the market is going up, your margin of risk is higher because if the market turns, you could end up selling your property for less than what you paid for it.
In conclusion, selling your house is a lot of work and you must stay in tune with the market.