Home Selling in Phoenix>Question Details

Trulia Phoen…, Home Buyer in Phoenix, AZ

Should one sell now as prices rise, or wait another year for more appreciation?

Asked by Trulia Phoenix, Phoenix, AZ Tue Apr 30, 2013

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11
Terry Bell’s answer
It doesn't cost anything to talk to a few realtors down your way and get their opinion of your current value and what proceeds you can expect. Interest rates could go up in the future and new home builders could start building again, so if this may be a good time to sell as inventory is generally lower than its been and interest rates for buyers are low. And then of course the question is, whether it will be better for you to buy a replacement now or later.
0 votes Thank Flag Link Sat May 4, 2013
By suggesting the option of waiting for another year of appreciation, one would have to believe that you have access to information that the rest of us do not.

Bill
1 vote Thank Flag Link Tue Apr 30, 2013
Let's see. My crystal ball says...
Web Reference: http://www.archershomes.com
1 vote Thank Flag Link Tue Apr 30, 2013
Now is a great time to sell because houses are rising in value and the market is coming back strong compared to past years. Yet, You may want to wait and take a chance that it will continue on the path it is in and your home may be worth even more. At the same time it could plummet and you could loose the gain. Solely up to you. Contact me if you decide to make a move! Thx
0 votes Thank Flag Link Sat May 4, 2013
We dont know what future brings, we can only decide for today.
0 votes Thank Flag Link Wed May 1, 2013
Inventory is low and interest rates are incredibly low. Would market change significantly if rates went up 2 points?

Lucinda Tkach
0 votes Thank Flag Link Tue Apr 30, 2013
you may contact me to discuss your question!
0 votes Thank Flag Link Tue Apr 30, 2013
A wise man once said, you should sell now while you can instead of wait until the unknown.

Sean Heideman, Broker
Position Realty
Office: 480-213-5251
0 votes Thank Flag Link Tue Apr 30, 2013
Rewind your "back in time machine" to late 2005 or early 2006 and ask yourself the same question...
0 votes Thank Flag Link Tue Apr 30, 2013
As the value of the house you may want to sell hopefully continues to rise, so will the house you will want to buy. What we do know is interest is historicity low now, no one knows how long that will last. It's best to evaluate your current situation and move on that.
0 votes Thank Flag Link Tue Apr 30, 2013
Should you sell now or wait for more appreciation is a question a lot of people are asking themselves. It all depends what your needs are. As the price on your home rises, so does the price of the home you might be buying so in the long run it doesn't really matter. If you are upside down on your home, then you might want to wait until the price goes up high enough for you to sell without a loss. If you have equity and are looking to buy another home, then try to get as much money for your home as possible by marketing it properly and then try to negotiate on the purchase and it will be a win win situation. There is no telling what the interest rates will be a year from now, so if you will need a loan to buy another home, you might be able to qualify for a higher loan today than you will a year from now depending on how much they rise. It is too difficult to time the market and know when the right time is to buy or sell. Right now it's a seller's market in the price point of $500,000 and below and especially under $300,000 since the inventory is so low. Therefore you will most likely get a very good price for your home. A year from now if the inventory increases, then the demand for an individual home goes down and since there is more competition, you might not get as much as you would when there were less homes to choose from.

So as you can see, it all depends on your situation and what your goals are.

Good luck in whatever you decide to do.

Lorrie Feld
Keller Williams Integrity First
480-570-1074
0 votes Thank Flag Link Tue Apr 30, 2013
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