Is it a good time to buy? Is it a good time to sell?  These are the questions I'm asked over and over. And before I answer, I always ask: Why are you buying? Why are you selling?  The answers usually have nothing to do with a "buyer's market" or "seller's market" or making money.  The answer is usually about lifestyle.

Most people buy and sell primary residences based on lifestyle changes. Either a family is growing or shrinking; a new job requires a new location; the amenities of a property no longer suit the needs of the residents.  A primary residence is certainly an investment; but it is not an investment property. If a profit is made in the process of a sale, then great, but that shouldn't be the primary motivation.

"Timing" is not nearly as important as "time in." One should not expect to earn a substantial return on a property that did not have an investment of time. Residential real estate isn't day trading.  According to the National Association of Realtors, on average, the value of a home nearly doubles every 10 years. And that's a national statistic. I wouldn't call Westchester County's real estate market "bullet proof" but it definitely has greater resiliency than many other areas across the country.   Your home is your castle, and your refuge, and your playground. It provides comfort and joy. Can you say that about most of your investment portfolio?

It's all about expectations. Realistic buyers and realistic sellers are finding each other and doing sales. Buyers should, by now, realize that the market didn't collapse, interest rates continue to go down, prices are favorable, and in many areas choices are abundant. It's a great time to buy! For those buyers waiting for the "bottom" to come before they pull the trigger - one caveat - you won't recognize the bottom until it's in the rearview mirror. Sellers- patience is a virtue. The buyers are coming, they're just a little slower. All that buyers and sellers really want is a "good deal" Buyers wont' get a bargain, sellers won't make a killing. A good deal means that both buyers and sellers achieve their goals and feel pretty good about it in the process.  A lifestyle change at the right time has tremendous value! 

So, is it a good time to buy? Is it a good time to sell?  If your lifestyle will be better, the answer is always YES!