'So, Is This a Good Time to Buy?'

This has got to be the number one question for all real estate brokers.  Of course, there is the other side to this question, "Is this a good time to sell?"  It may be just an attempt to start a conversation and usually they are not interested in a response.  They just want someone to take charge of the conversation.  My reply is usually the same.  I move a little closer, and whispering quietly in their ear (so no one else will hear) I say, "That depends."  This makes them step back and, nervously, ask, 'It depends on what?"

Honestly, it depends on way too many things to consider.  The most important thing to ask anyone who's looking for property is, "Are you looking to sell (or buy) right now?"  If so, what are you looking for, and wher are you looking?  If you are looking to buy, what is your price range?"

These questions can go on and on because the answer to the initial question is totally meaningless unless you get into the specifics.  There are real estate people who love to label the market as a 'buyer's market' or 'seller market' in order to make themselves look good or as an authority.  The problem with this is that a 'buyer's market' may be true for high-end, single family homes while not acurate for low-end income-producing property in the same town.  What we as professional realtors look at are called microclimates.

A good example of microclimates is our own Black Hills area.  Anybody who has lived or stayed here any amount of time knows that our sometimes-bizarre weather patterns can be very different even within a 5-mile radius of where you are.  The real estate business is exaclty like this in that it includes not just one climate but also a series of smaller and very much distinct microclimates.

Thus, the question of whether it is a good time to buy or sell should be asked in the following manner.  "I have a three bedroom duplex, located in such and such, and it is five years old.  I bought it new and paid this much for it.  If I were to put it on the market tomorrow, what should I expect?  This narrow s the scope of the market  considerably and there is room for an intelligent response.  My response would be based on if the resale of duplexes in this town is red hot or maybe the town is flooded with people trying to sell everything.  Is it a good time to buy?  The answer is always much more complex than a simple yes or no.

Let us help you with your questions and provide you some peace of mind in making this important decision. We are trained to help you and guide you in making a decision that is best for you and your family.

Paul Rothenberger

Main Street Realty
1011 Main St.
Spearfish, SD 57783