Bob Nelson – Timing

We want to talk a little bit about timing your property’s market appearance.

Featuring:
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker

Marcia Edwards: Some folks will not be able to choose when they put their home for sale or when they sell their investment property. Others will be able to choose their timing and that is powerful.

Bob Nelson: It’s interesting because we know there’s a process that you go through, preparing the property to be exposed to the market, exposing it to the market, allowing a period of time for the most probable buyers that are out there to observe the opportunity that this property represents, and then for them to generate enough momentum to make an offer. So timing, frankly, I do 1031 tax deferred exchanges as my primary activity. Timing is everything. I mean absolutely everything.

Marcia Edwards: So you need to map out your timing before you start the events in process. For me, in residential, it’s about the seasonality. When are the buyers looking for particular homes like yours and when are they not so much? When’s the demand the highest? But also when is the other competition on the market? So you want the least competition, you want the most demand. When is that in the calendar cycle and when is it an opportunity for you individually on your home?

Bob Nelson: In so many instances it has to do with availability of financing and the lender’s outlook on investment properties. Are they aggressively looking to make loans on income producing properties or is it a situation where they’re being hesitant, thinking, “Oh boy. Things might be changing. Let’s pull in our horns a bit and lend less money and be less aggressive.” So to a great degree lender phasing is extremely important. Isaac Grant is a great example. He can fill you in on that type of strategy. Give him a call, Northwest Community Credit Union and go from there.

Marcia Edwards: Also looking at timing, you’re talking about a smaller window as well. You want to look generally when the right time of year is to go on the market, but also you’ve got to look at, it used to be I’d hear from someone, they want to list their house and the next day we’d put it on the market. Now you’ve got a lot of preparation. You’ve really got to stage it. You’ve got to get professional photography in there. You’ve got to dial it in at another level in regards to the condition, so it’s never too soon to call the realtor and have the conversation about an anticipated listing.

Bob Nelson: When you don’t do that it’s potluck, and there’s a great opportunity you’re going to misfire, make some mistakes that will lose appeal and cost you money in the long run and short run.

Marcia Edwards: So have the conversation early.

Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30 on KPNW for the “Real Estate Today” radio show.