WHO decides when the best time to sell - The MARKET of course! Usually we see an uptrend in sales during the summer months...
Traditionally homes and condos are put on the market in late spring to get a head start on the summer shoppers. This "Buyer's" season continues and is most active until approximately August then things begin to wind down due to school starting. Most home shoppers want to get into a home before the kid’s classes start.
BUT, this is not a TYPICAL market is it? Sellers waiting to put thier home or condo on the market in spring 2011 may see even a lower price. The final "sell" prices are dictated by the market and what has sold in the past 6 months. This is what banks require when they do an appraisal.
Over the past two years I have seen Buyer's active throughout the entire year and the activity is increasing steadily of late due to record low mortgage rates which are now at 4.85%!
Many are shopping for the best possible home they can get with all the bells and whistles. Today's Buyer's are smart. They know area home prices and research diligently. They expect move in, magazine perfect homes, with staging and neutral colored walls. They do not want to paint, clean, remove wallpaper or have anything else to do BUT move in and enjoy their new home!
Selling a home or condo these days is all about "presentation". The home that looks the best and shows the best WILL SELL THE FASTEST! In ANY market!
Staging the home is the best advice I can give any seller.
So if you are thinking of selling but want to put off till spring 2011 here are two reasons NOT to:
#1. More foreclosure coming to the market steadily and home prices are STILL dropping - you will get more for your home NOW rather than later
#2. Interest rates are so LOW! Why wait and take a chance of rates getting higher? If that happens, Buyer's may level off don't you think?
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If you would like to submit your question, please email me at cmoscinski@comcast.net !
Christine Moscinski is a Broker Associate and member of The "House Hunters Team" at Gobber Real Living Realty - Specializing in Local Real Estate Markets. Call her if you are in need of professional advice and guidance and get the answers you need today - You'll be glad you did!
TEL: (708)369-8094 Available 24/7/365 - Visit her website at: http://www.ehousehuntonline.com and Twitter @cmoscinski