They say time is money, apply your talents at the right time and you are guaranteed success. Though the person who quoted this may not have had Sarasota’s real estate in mind, the saying compliments it more than anything else. Knowing when to buy or sell your property is a huge factor when going into the real estate business. Just like all other things, the real estate market also follows the age old golden rule of supply and demand. A condo’s price will rise if there’s a high demand for it and vice versa. Now let’s answer the most commonly asked question on Sarasota real estate investors’ minds.
What’s the Best Time to Sell Property?
The best time to sell a property is when demand is high
What the Heck?
Yes, the answer is that simple. What, you thought I was going to state specific dates on when to buy or sell your property? Even Rockefeller doesn’t know when the real estate market is about to go uphill or downhill, so how can you expect me, a simple blogger, to state future conditions.
See, the most we can do is speculate by looking at past and current trends of the real estate market in Sarasota and buy/sell accordingly. But even then it’s not necessary that the real estate market may follow the same trends. So what else can you do? Think of things from a buyer’s perspective.
Answer me this; what are the months where demand for housing increases exponentially, not only in Sarasota, but throughout the whole world? It’s the summer season of course, with an influx of tourists and vacationers coming in from all over the world to retire for the next 3 months. The tourist destination that Sarasota, Fl is, you can expect many of them to look for rentals and vacation homes, which means an increase in demand for new housing.
Property rates are at an all time low at this time of the year, which means now is the perfect time to invest in beachside condos and apartments. Unfortunately, this isn’t some mystical secret that only I know; there are thousands of experienced real estate investors aware of the trend who would also want to capitalize on the opportunity. That means you need to act fast, since an influx of investing leads to higher demand, essentially driving condo prices up.
Ideally, most investors would purchase real estate within the winter months, but due to the property shortage Sarasota, Fl is facing, they’ve been stalking the grounds for lower property rates. So if you didn’t consider investing before, now is the perfect time.