I don't know if you already unloaded your condo during the low times of 2011, but the market for sellers has drastically improved in early 2012 due to lack of inventory and a multitude of buyers scrambling for the few listings available.
I just sold my client's listing in Mountain View. People think we are still in a downturn, but I was able to sell my client's home at nearly $30,000 ABOVE their mid 2008 buying price. In other words, they bought BEFORE the downturn and sold AFTER the downturn, but I still helped them sell at a HIGHER price (not lower).
Please send me your full name and contact information. I will be able to help you sell the condo at a good price. I will send you the comps and do excellent marketing to sell your condo.
Inventory is not low but I can use my marketing skills to sell your condo at a great price. I also market it then to other Realtors in my company who have clients ready buying in that area.
I stage, conduct open homes and do extensive advertising during the sale. No agent can beat me in this aspect.
Please call/email if you need help selling the condo right now.
The local agents have it right...condos are taking a longer time to sell today due to the number of units on the market. However, statistically, condominium sales in the Santa Clara Valley are actually UP as much as 30 percent in sales this year compared with last year--and, if you'll recall, last year was when the federal government was offering cash incentives to buy a home.
As for pricing, the thing that everyone in the Valley must come to grips with is that these prices are the new "norm." Certainly, if you're looking at your home's current value versus the highs of, say, 2007, you're correct that the pricing is definitely lower. However, it may take a decade for those prices to return, so the question becomes--not whether it's necessary a good time to sell or wait--whether selling is a good decision for you if you want to move up into another home at prices that are historically lower than it has been in the past.
So the best bet is to contact a great Realtor, have them look at your home, give you comparables, and help you make an informed decision on whether or not you want to or can sell.
Area Pro Realty-People's Choice
I certainly wouldn't think there's much opportunity for price improvements.
If you are ready to sell I'd do it. Talk to a real estate agent that has experience in selling condo units in your area. They should be able to give you an honest estimate of your chances of selling.
The agent you pick also needs to be versed in what type of financing is available for your complex - the rules for lending on condo projects have gotten very restrictive. If buyers can't obtain financing on units in your complex then it will be tough to sell. If FHA, VA, and conventional loans are all options then that will help.
My point is that the agent should be able to know this before listing your condo for sale - even if it means bringing their lender in to help.
It is true that the market seems low in many segments (it is all relative, isnâ€™t it); I believe that the market has adjusted quite a bit, but I also believe that the adjustment is behind us.
Whether you look at figures from month to month, or from the same month a year ago to now, you will find figures that seem contradictory.
Depending a lot on the location and the condition of the property, I see prices as being flat, to slightly going up in the future â€“ Mind you, while I say that, I quickly add: â€œWho knows?â€.
On the matter, I suggest the following link below that may help you keep some perspective.
To answer your question specifically, will your property sell for more in 6 months? I think it should be about the same.
I completely agree with Angela's response. Selling a condo takes longer simply because the supply is fairly higher. whether it is a good time for you specifically? It depends on your plans as Angela wrote in her response. At the same time, good condo's in good location with the right pricing are selling! I am working with buyers who are looking to purchase condos in Mountain View since they are cheaper than Single family home and rent in Mountain View is great (for the investors). There are many cash buyers these days. if your condo is close to downtown and the train I know it will sell quickly. with high Gas prices many young professionals are looking to live near the train and commute to work via train.
Feel free to contact me for a no commitment consultation.