If you are not truly in a hurry and can wait it out, the market will most likely appreciate as we move through some of the current economic trends. If you want to move in the next 24 months and your Velocity report reveals you are in a BUYER’S MARKET, it may be wise to make your move now.
In other words, “If you don’t like the possible value today, you may hate it in the next 12 months.” In a Buyer’s Market your property may be valued at $1,400,000, however it could be $1,200,000 in one year. Properties DO NOT appreciate in Buyer Markets, they depreciate.
An $800,000 property in March may be a $750,000 property by the fall season.
The good news is, if you stay long term, 5-7 or perhaps 10 years, the equity will often come back to you as your property appreciates again. But if you are thinking of selling in the next 3-12 months or so, you may want to get to the market to avoid “equity reductions” due to a very bad Velocity reading.
Again, please do not take my word for it. These are simply the trends that we have observed since the 1990’s.