The Importance of TIMING!

If you ask any investment advisor about the keys to investing well and/or how to really make money, somewhere within the context of his or her response you are more than likely going to hear some mention of the issue of " timing. " Buy LOW and Sell HIGH -- is a mantra almost as ubiquitous (in the investment arena) as the Realtors' mantra of LOCATION, LOCATION, LOCATION.

For the purposes of this up-date, we're not going to concern ourselves with the often tricky and complicated issue of how to decipher the market, and how to time transactions in relation to same -- but we will offer a few simple generalizations as to the normal cycles of the Condominium market (and/or Real Estate market), and how best to try and co-ordinate transactions in accordance with same.

Obviously, from a Buying perspective - you're going to want to time your' purchase(s) to coincide with the slowest and/or least active selling times of the year, in order to level the playing field somewhat between yourself and those who might be looking to sell (be they Developers and/or individual property owners'). The best deals I've made over the past 10 years or so (on behalf of Buyers) have almost always occured during the latter part of July and throughout August (up until labour day and/or the first weekend in September). This is perhaps the one time of the year when people sort of tune-out of the Real Estate world in order to enjoy the remainder of the summer (a time often synonomous with vacations) and/or that last vestige of peace and quiet before work begins again in earnest. Although there are generally less resale listings available during this portion of the year, those that are listed are usually serious about selling, and Developers / Builders' in particular may well be highly motivated (trying to avoid a slow sales month and/or muster whatever they can during this traditional down-time). As a result, most resales tend to be a lot more even handed at this time of year, and most Developers / Builders a lot less likely to raise their price(s) etc.... In either case -- the reality is that you are a lot more likely to negotiate favorable terms for your-self as a Buyer during these months, than you are at any other time within the normal calendar year. (note: Although Christmas is often also considered a propitious time for Buyers' -- over the course of my tenure in Real Estate it hasn't provide the same level and consistancy of opportunity as late summer does. This doesn't mean that things can't and/or won't change -- just that the last 10 years or so of my experience suggest otherwise).

For those of you thinking of selling a property on the other hand, The Spring and Fall markets are most definitely the most opportune time(s) to be engaged in this general activity. As is almost always the case, you'll have more Buyers' looking during these two seasons -- which in-turn should enhance your' capacity to potentially create a " multiple offer circumstance " and/or simply stand your ground (price-wise). Moreover, as the increased number of Buyers will in consequence alter the relative relationship between Buyers and Sellers -- it should (and does) often change what might be a more balanced market into something of a " Sellers' " market.

Although none of these circumstances has to occur as outlined heretofore, as long as our market remains relatively healthy and strong, my expectations would be that these general principles should prevail going forward. Hence, dependent upon your' market expectations and/or fore-casts for real estate in the near term, the next couple of months may well prove an ideal time for you to cast your' line into the Condominium marketplace. Should you indeed be a potential Buyer at this point, odds are quite good you will be happy you did.