Not sure we've seen the bottom price wise yet and when we do, gains are likely to be very very very slow.
There is a way to sell fast for full price or at least market value.
Like I tell my clients I am not here to sell you a house, I am here to help you find and buy a house but the house has to sell itself.
3500. W Olive 3rd floor
Burbank, CA 91505
If you do not NEED to sell right now, don't.
Property values will never get back to their 2006 highs...it was a false market to begin with.
So any equity you "lost" was what was lost by not selling at the top.
Can't moan over the past.
The banks are thieves. But you know that.
If the govt. had divided up that 3 trillion plus and cut a check to every adult US citizen we would not be in this present crisis. The money would have gone back to the people, who would in turn have opened businesses, paid debt, bought cars, and houses.
Even they do not control the market value. Only the ready willing and able control the prices.
The economy isn't just shaky. It's in ruins.
A lot of my clients are buying British pounds, Many are investing overseas and getting their money out ofthe US.
What can you do? If you do not need to sell, stay put. If you are under duress, we have investors who may be able to buy your property. Or you can try to sell it yourself. My company is helping sellers by taking listings for 1% and handling all the paperwork for those who sell on their own.
Good lick and God Bless.
Home sales are all about supply and demand and the value that buyers perceive in a particular property. If you don't to sell right now, maybe waiting is the better strategy.
Not necessarily. I agree that some bank properties are priced way below market. But some are not. When you have a Comparative Market Analysis done, you don't just take the face value. Like the old saying goes . . . the devil is in the details. You have to be realistic in looking at "comparative" properties.
I recently did a CMA for a client above Glenoaks. If you draw a circle around it to do the CMA, one of the properties was a bank owned major fixer. Another was one of those McMansions. So I had to look at the properties and see which ones were actual comps.
I think you understand that the market has pressure to go down. Inventory levels are rising, economic problems still abound, and eventually we are likely to have increasing inflation. These interest rates cannot continue forever. So, if you can afford to wait, my suggestion is wait. But it will be another 3 years minimum before we really come out of this, in my opinion. And that is probably optimistic.
But, if you need to sell, price it right and get is sold.
Let me know if you need help. Even if it is just to give you my best estimate as to your homes market value at this time with no obligation, I am ready to run the numbers.