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Should You Sell Your House Now or Wait [2022 Edition] - YouTube
Channel: Chamberlain Real Estate Group
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so you currently considering selling
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your home
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and you just don't know whether you
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should do it now or you should wait we
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want to talk about that today in the
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market that i'm in in calgary
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the values have really increased quite
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quickly in the last number of months and
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in our last video we shot we talked
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about how
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the every hour over the last 12 months a
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detached home was making just over 10
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dollars per hour
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which is insane and so for calgary
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anyways for where we are i want to run
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through just a couple scenarios to help
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maybe
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uh give some clarity on what you should
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be doing because honestly it comes down
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to it being a personal decision in your
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personal
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situation just because you
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have a property and it's gone up in
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value doesn't mean you should just sell
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it right away
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and the thing here is you can only ever
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time the bottom or the top by looking
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backwards right that's the only way you
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ever know that it was the top or it was
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the bottom you can never time it
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perfectly you'll never know unless
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you're looking backwards so
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in calgary where we are the market is
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increasing things are happening and the
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market is hot there's a lot of talk
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about pricing there's a lot of talk
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about multiple offers there's a lot of
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things that are happening in our market
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so
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let's jump in so why would you do it now
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that's we're going to talk about first
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all right
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and there are two things
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two main factors that i want to talk
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about
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the first one is if you have
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a rental property okay
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so if you have a rental property and
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your lease is in a good situation where
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you could sell it
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this could be a good time you could
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probably pull the trigger whenever you
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chose
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i know
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and again you only can time the market
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properly looking backwards and i am
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looking backwards and going oops we sold
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our rental property we had four plaques
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we sold that rental property last spring
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yeah well
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maybe not the best decision if we were
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trying to get the most out of it but it
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was the right time we needed to do it it
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was the right thing to do at the time
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and and i don't kick myself at all
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because it was the right thing at that
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time and so if you have a rental this is
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a fantastic time to have that home put
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on the market
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to get more than what you've probably in
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a long time been able to say that it was
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worth so so that's that's the number one
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number two
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is if you have
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a place
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to
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go so what i mean by that a lot of times
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when you're making these transact
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transitions and you've got a place that
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you're going to buy you're going to sell
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if you have your family or if just you
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as a couple or you as a single
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and
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we've actually had a lot of people call
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us up who've
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singles right single guys that bought
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something maybe a year or two or three
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ago and they're looking at going well
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maybe i'll just cash in and move back
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home with mom and that's what i mean if
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you have a place to go that you don't
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have to require um you know buying that
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second place well you're kind of not
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tied to anything
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pull the money sell the property see
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what happens and kind of go from there
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right so those are probably two
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very simple situations uh when it could
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be a good time to do it now
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however
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when should you wait should you do it
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now or should you wait till the spring
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and again it depends on your situation
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but here are the two things that
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that i want to talk about the one is is
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well it's the opposite of the last one
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you don't
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have a place to go
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um right now in our market uh we are
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seeing
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um just it is just a crazy market i had
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one client here's a story i had one
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someone on the phone asked me can we
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put a sale of a condition of our home
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on an offer to purchase on a next one
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and yeah no
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no seller is going to take that
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because how the condition is written
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anyways in alberta here is if if you do
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that
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another offer can come in and kick you
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out essentially so there's going to be
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another offer that's gonna come in there
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could have been you like especially if
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you're trying to compete you're not
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gonna have that so you don't have that
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security of a condition of selling your
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property in order to buy another one so
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if you need another place to move to
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you might have to wait and you might
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actually need to be looking to buy a
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home first instead of just thinking of
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selling your property okay now here's
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the silver lining of that
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is you have a home currently and it is
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increasing in value um like but the
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other ones that you're buying are also
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increasing in value so you kind of have
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this situation so if you're moving from
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here to here um the values are going up
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right and again it's this is not perfect
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it's a little bit disproportional of
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that
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but you get what i mean so uh so that is
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a good thing and if you have a place to
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go you might need to wait you i wouldn't
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say just put your home on first
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wait or try to get a longer possession
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date on it and then find something
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before
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because
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that is stressful very very stressful
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all right the second one
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is
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if you like to gamble so what i mean by
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that is maybe you have
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uh like this situation you have a rental
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right you got a rental
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and
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you are okay
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with
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gambling you're like you know what
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i'm just gonna see if prices go higher
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i'm just gonna see what happens i i i
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personally looking at this market having
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nearly two decades of of real estating
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under my belt
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this has not happened before this type
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of market that calgary is seeing and now
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it's starting to see it in edmonton and
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other cities we haven't seen something
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like this and it really is um
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it's a it's a transfer of money is what
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i'm calling it right it's a transfer of
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money from the other major cities coming
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to calgary and alberta and in parts of
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edmonton too and so it's really really
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interesting to see this happening and so
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if you want to just kind of hold out see
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what happens
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now what what could happen with that if
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you're gambling
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you could have
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more inventory
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coming on the market
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uh at the same time because spring
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markets usually just generate more
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listings right so you could end up
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having more inventory coming on the
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market which means more competition you
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know
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but that's not a bad thing
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is the demand
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going to decrease or eat up that
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inventory fast enough
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so that you aren't able to
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like you're not going to be able to get
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the most that you can i don't think so
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there's a lot of people that we talk to
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who are moving here who are making plans
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in buying and selling and they still are
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thinking you know what i'm going to do
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it in may june
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i don't know why that is but a lot of
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people do that june is typically one of
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the june 30th actually is typically the
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busiest day in real estate like the most
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amount of transactions
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that we've been told from lawyers over
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the years today that is like the busiest
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day they have
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in real estate is the end of june and so
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um yeah so there are some some things
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that you kind of are risking when you're
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looking at that but at the end of the
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day it comes down to your personal
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situation
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and you have to be able to know what to
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do so in the description if you want to
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have a conversation about it with us
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sorry about putting a plan together
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strategizing when is a good time for you
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to make that move when should you sell
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your house
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we have a link to a calendar where you
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can book a call we just do these first
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off you know 15-minute intro calls where
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we can chat with you have kind of get a
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feel for what you're looking for get a
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feel for us
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are we the right fit for you
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in selling your home here in the city
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and uh and let's just chat but this is
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really what it comes down to should you
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wait or should you sell your home now it
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comes down to your situations and
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hopefully there's some food for thought
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here but we'll see you guys on the next
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video
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[Music]
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you
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