Kimi,

In Phoenix area the inventory is low! My buyers are making mulitple offers on multiple homes before getting accepted. Also the home buyers credit is motivating some home sellers to sell their homes!

If your home is priced well it can be a great time to sell! There are many factors that will affect your time to sell, such as loans on your home and how long ago you purchased your home!

If you would like a market analysis feel free to contact me!

Sincererly,

Lucinda Tkach
Windermere Central

It's all about supply and demand. Right now there is a large inventory of homes on the market due to foreclosures and short sales mixed in with regular homes on the market. Should the number of foreclosed and short sale homes increase, then the supply will out number the demand quite a bit. It all depends on what is going to happen in the next few months. The number of homes selling may go up but the prices will probably not go up until the market is rid of the surplus of homes. That could be awhile before that happens.

The decision to sell your home is based on factors in your unique situation and is ultimately up to you. With the $8K tax credit for first-time homebuyers homes are selling, but nobody can guarantee how quickly your home would sell if you were to put it on the market at this point in time. You would need to consult with a real estate professional in your area to determine what you would need to do to make your house sell as quickly as possible.

There's also no way of knowing if housing prices are going to go up next year in your area. The market determines the price of a home so it is dependent on what happens in your local real estate market.


Good Luck!