Home Selling in Shrewsbury>Question Details

Sellerinshre…, Home Seller in Shrewsbury, MA

Do you see the market in Shrewsbury improving in 2010? I'm thinking of selling my home in the spring.

Asked by Sellerinshrewsbury, Shrewsbury, MA Mon Sep 7, 2009

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Right now the market seems to be picking up everywhere depending on if a home is priced correctly and with the area it's in as well. The homes in the $250,000 or less range are definitely starting to move based on their price and condition - when I send out a list of homes for my buyers these days, it seems that 1/3 or more already have an accepted offer on them and are waiting for the signing of a P&S Agreement, etc. Because we have the first time home buyer credit time crunch going on now, homes seem to be selling quicker on the market. The market values of homes are still low, but seem to be stabilizing slightly in the past few quarters of the real estate market.

That being said, if you are looking to sell your home because you need to sell your home, then now is a good time since there are many buyers out on the market looking for a home due to the market conditions being favorable for buying - lower home prices and interest rates. But, if you don't need to sell your home, then I would suggest maybe holding off, unless you are okay with negotiating with buyers on the price of your home. A good market analysis will be able to help you determine an estimated value for the sale of your home in today's changing market. This analysis is a report done by a realtor that has comparable homes to yours that have both sold and/or are under agreement within the past 6 months of when you'd like to sell your home, which is information used by an appraiser to put a value on a home for a lender of a potential buyer. That way you can make an educated decision to put your home on the market in the best possible price range to get your home sold.

You need to be careful putting your home on the market and not overpricing it so you get no activity on the home, because the longer the house sits on the market, the more a buyer will wonder what is wrong with the home and why it hasn't sold yet.

As an example, in Shrewsbury right now there are 58 homes active on the market between $150,000 and $350,000 and 14 of those homes have an offer on them and/or are waiting for a bank approval for an acceptance of an offer. In the past 6 months, 73 homes have been sold or are currently under agreement to be sold. Marketing time averaged about 130 days and the average price of those homes sold was $270,000.

The spring is an excellent time to sell your home and is usually one of the busier times in the market to sell since the snow is gone and the warmer weather is first upon us. :o)

If you'd like any more information or would like a complimentary market analysis done on your home, I'll be happy to do one for you and email it to you for your convenience so you can see where your home might sell in the market today to determine where it might sell in the spring next year.

Angela Dolber
Prudential Prime Properties
0 votes Thank Flag Link Mon Sep 7, 2009
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