As your other replies indicate, there are a lot of factors in determining if now is a good time to sell. I did some quick research for you though and there is only one home that sold this year in your zip code that was a resale of a newer home. The home was built in 2012 and then resold this year for 6% less than it did in 2012. This may be an indication that it might not be the best time to sell. Of course, the only way to find out for sure is to talk with a couple of real estate agents and get their professional opinion. Thank you and good luck.... more
I respectfully disagree with your response.. The appraiser did included the distressed property as one of my comps. The point I am trying to make here is that you do not have to accept an appraiser estimation of your homes value without a fight. This appraiser may not be indicative of all appraisers but bad appraiser like this one who assessed our home in such a slipshod manner is serious hurting my community. The funny thing about it is that I once had the utmost respect for this local savings and loan. Many times I used this S&L as an example of how banks could conduct their business in a professional manner and still make money during the last banking crisis.
The appraiser has since been indicted for mortgage fraud (unrelated to my home) and the bank was being investigated by the feds. This institution recently announced that that they were no longer offering to refinance home mortgages. The homeowner's equity here is being devastated here and few people are looking into why it is happening. The residents here should be asking questions and protesting. As I said most sources rate this community very high when compared to the rest of the state. Too many are panicking and giving there homes away which further acerbates the problem.... more