Hi Michael, this is a very interesting (and intelligent) question.

There was an eye-opening study performed that showed that even if you sell lower now, the money you save by also BUYING low coupled with the current low interest rates make up for any slight loss you may take.

So that said, no, I don't feel you should list and WAIT, but you should consider listing and being realistic by considering any reasonable offers.

You can begin by reviewing and/or comparing the 19018 market here (info updated daily): http://www.homefinder360.com/mimarket/zip/19018

You can then search for multiplexes/investment properties in the Lansdowne area here: http://www.homefinder360.com/listings/areas/41526/propertyty…

Given the complexity of your situation, I would like to buy you a cup of coffee at a Starbucks near you. I can bring my laptop and we can do some research live.

I truly hope you have a wonderful holiday season.
Just have a brief question? Call or email anytime -- day or night!
I work hard (and smart) so you don't have to.

R. Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
South Jersey | Philadelphia | the Main Line | Bucks County | New Hope
In NJ 856.617.1212
In PA 215.735.2225
axelson@kurfiss.com | http://www.kurfiss.com http://www.homefinder360.com/featuredlistings

Every day you do not take the next step is one day closer to the day interest rates go up!! Previous to last year the average mortgage rate over the previous 40 years was 9%. You could hold out for an extra $5,000 - $20,000 on the home you are selling and end up paying $100,000+ on the one you are buying.

Also, when rates rise, the pool of buyers that can afford you home shrinks making it harder to find a buyer. Good luck, hope my observations are helpful,

Michael,
Waiting for the 'right price' is among the most invalid of reasons to sell ones home.
As Ron indicated, an agent who does not recognize the futility of such a goal will end up unhappy along with the owner of the home. At this time you need to answer the question, 'Do I need to sell?" If the answer is yes, piling on illegitimate condition will only sabotage achieving your goal.

Get a proper evaluation of the expected selling price for your property. Then make a sell or no sell decision. By looking at the trend lines you can determine if time is friend or foe.

Michael,

The question is what is the "right price." Is the "right price" what you would like to get out of the place. Is it what the market will pay for your property or is the price that will allow your place to sell the quickest.

In my opinion, you don't want to price your property above what the market will pay for it. If you do, you will just have your property listed for years and all it will do is help sell all the other properties but yours.

I suggest sitting down with a local Realtor and discussing what is the "right price." Discuss you needs, wants, and reasons for selling. They should be able to give you an idea of when your property may sell at a certain price.

Get local help and find your right price

Hope this helps

In my opinion pricing right from the beginning is crucial. It is a competitive market and when you are over the price point the level of interest decreases substantially . A house has the highest amount of interest when it is first put on the market and having it priced right in the beginning gives you a higher chance of success

Michael, Your "right price" may not be what the market will bear for your property, please have an agent do a CMA to determine the actual value in today's market. I hate to be the bearer of bad news, but the market just doesn't care what you need or want, it values your property at the price a buyer is willing to pay. That being said, if you had to take a loss on your current property, you would make up for it on the buying end. So, you have to decide, what will get you where you need/want to be & what you are willing to sacrifice (space, income) to get there.
Best of luck -
The Marie Souza Team - Top Selling on Cape Cod
Cape Cod Real Estate Services
508-790-2000 info@mariesouzateam.com
MarieSouzaTeam.com

Hello Michael,

You are wise to consider this paradox before you list your home for sale. I personally wish more potential sellers did the same.

It is my professional opinion that 'right pricing' your home from the beginning is your best strategy under the current markent circumstances and then there won't be a need to wait. One reason this is important is because the longer your home sits on the market, the lower price potential buyers will expect to pay (and offer.)

The number one reason homes fail to sell, or exceed the average time to sell, is price.

Hello Michael,
When you work with a Realtor it will be their job to do a Comparitive Market Analysis. This will tell you what the listing price should be. the Realtor will guide you in the process and help you find what is right for you. However it is ultimately up to you what the price will be. Homes are selling if priced right for the market.
What you currently owe on your mortgage will be a factor to take into consideration and what amount of money you need to move into a new home.
You can either accept an offer, counter or reject. It is up to you what price you will accept. And if you do not have a time limit on when you need to move that will be in your favor.
If you are not working with a Realtor I would be happy to work with you. My website is: http://homesbyamymurray.kwrealty.com/
My email is amymurray@kw.com
Please let me know if you need anything.
Thank you,

Hi Michael, I think you should find an agent who will list your home at the right price. Sorry to say it is not what price you want but what price a buyer is willing to pay,.

It sounds like your #1 priority is getting a particular price for your house.
I can definitely understand that.
Please, do yourself, and your potential Realtor a favor and do not list it yet:

For two years or more, we have seen Sellers "chasing the curve"; trying to get more than their house was worth. It would be interesting to research; how many homes have actually sold, in the last few years, for MORE than Market.

The Seller tells us, "Someone will come along and pay my price."
It doesn't happen.
If a house is Upgraded and Nicer than the Comp's, it will sell for more than the Comp's.
But that isn't what we're talking about.
You will waste a lot of time, gas and money. You will be pissed at the Realtor and the Realtor will be pissed at you, and that is not a good arrangement. Future Buyers (when it is re-listed at a good price) will wonder why it didn't sell last time.

If you are not really committed to selling it.....

Good luck and may God bless

Dilemma. Do you need the equity from your current residence to purchase the multi-family? If not, do you have sufficient assets to meet reserve requirements? Will your asking price for your current residence be in the marketable range that neighboring comparable properties have traded within the last 6 months? Does the current condition of the property warrant a premium? Have you consulted with your CPA to discuss any tax ramifications? There are many additional variables to consider, but the answers will help you achieve the positive bargaining zone required to effect a successful transaction that fulfills your optimistic goals. Good Hunting!