A question I regularly get is, “Should I wait to buy after the summer/fall when the sellers are feeling desperate or is it worth buying now?” On the one hand, yes, you could wait and maybe there will be a seller that is very motivated going into the desolate winter months, but Nantucket sellers are rarely financially squeezed to sell, so don’t count on it. On the other hand, that property you were eyeing could easily sell. My overall advice is make a move, especially if there is a specific property you want. If you are indifferent about what property you buy and it is primarily a financial investment still make an offer or offers now and if one of them sticks, great, if not, and if the property is still around going into winter, then at least the seller knows you are out there and may come back to you and say let’s make a deal. The market can move too quickly to wait. Case in point, I have a client who wants to buy a property only on Main Street. We looked at five solid options in the beginning of August. He stressed to me that this is primarily a financial investment and secondarily a lifestyle investment, so his main goal is to get a good value. So, he said, I’ll wait because surely some of them will be available when I come bACK in the fall and I’ll get a great deal. I told him to at least make some offers so the sellers know you are out there. He didn’t and guess what, they are all under agreement and now there will be a whole new set of comp. sales that will move values higher. Unless the market is clearly going down, which it is not, then make a move!
Wait and See or Make a Move
