A lot of times I get asked the simple question “hey Mike how’s the market doing”?

To which often I reply…”well that depends.  Are you asking about buying, selling, leasing or an investment property”? Not such a simple reply on my part but a reasonable question to ask none the less.

You see the real estate market can be divided up in to “sub markets” and ofter these markets work in contrast to one another. For example. If you are in the market for investment real estate November/December may have some sellers looking to sell by year end to offset any capital gains against capital losses incurred elsewhere, or vice versa.  Or you may have sellers looking to sell with a January closing to extend any capital gains payable until the following tax year.

Now compare this to a buyer looking to purchase a house or condo and absolutely want to take possession before Christmas and the holiday season. Not only to they want to buy in the October/November/December they would like to close it before Christmas.

You see, two different markets. I have many times over the years represented clients in both situations and getting good advice about “how’s the market” can save you tons of money. In our current environment of indebtedness the correct advice is priceless.