Q: |
I am relocating from Edmonton to Penticton with my career. I am not rushed to sell or buy but am wondering with the market going down, if I am better off to sell my acreage outside of Edmonton ASAP, even though Christmas is around the corner and take my time to get the right buy in Penticton. Or should I wait until spring to sell my acreage?
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A: |
As questions go, this is also a favourite currently. Unfortunately, the answer is not easy, since you are not buying or selling a market, but rather your individual property. If you are for instance 'trading up' and you are worried to receive - say - 10 per cent less for your property in Edmonton, you will also benefit from the property in Penticton being 10 per cent less and likely better off than you would have been five months ago. Acreage values also depend on what you can do with it, what prospects there are for redevelopment, etc. I would get three realtors to evaluate the property to determine realistically what they can get for you now - and then keep looking for that special deal in Penticton. Sometimes, selling in December is better ... fewer properties for sale and what buyers there are, are more serious.
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