Home Selling in 06359>Question Details

Anna, Home Seller in 06359

We live in Ct and like to sell asap, are we wise to wait one year or sell now as we would like?

Asked by Anna, 06359 Sun Mar 20, 2011

We bought this house for 325.000 yr 1994, would like to get as close to that as poss. We have 3 acres in a great area - is it poss? Houses around us go for 295.000. up to 600.000.

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Minna Reid’s answer
You really need to have a CMA done by a local agent in order to determine the value of your home...however you can pretty safely assume the market isnt getting any better in another year...I personally anticipate more declines. You may as well just go ahead and sell now.
Web Reference: http://www.homesbyminna.com
0 votes Thank Flag Link Mon Jul 4, 2011
Hi, Anna. As others have recommended, the first thing you should do is meet with several local agents. They can provide you with market analyses which will contain all the information you need to make an informed decision as to whether or not it is the time to sell. If you then make the decision to sell, it's time to do your homework prior to hiring the agent who will represent you and market your home. You should be aware that agents vary quite a bit on the services they provide and what they will do for you for the commission you will pay. Visit their websites. See how they market their listings. Do they provide a virtual tour, post multiple, quality photos, etc. Ask how many years they've been in the business and how many homes they sell annually. Meet them in person to see if you are comfortable with their personal style. You want to be 100% comfortable with your agent and confident you are putting your home in the best of hands.
0 votes Thank Flag Link Wed Jun 8, 2011
Talk to a local agent, but I would suggest you sell now if that is what you want to do. Nobody has a crystal ball at to what the market will do in the next 12 months, but nobody is expecting a huge uptick. With this in mind, there is probably little advantage to waiting a year.
0 votes Thank Flag Link Wed Jun 1, 2011
Hi Anna,
I am a realtor in your area and would be glad to come over and talk with you about your home. I agree with Chris that our market here in CT has many areas that are still declining. A year or so from now would not make much of a difference in value for you. What will make a difference is the buyers in today's market as opposed to those in next year's market. Interest rates are creeping up there is talk that the lenders will be requiring a larger downpayment soon. Add that to the fact that Pfizer will be laying off at least 2000 employees within the next six months and you have a recipe for fewer buyers in your area next year. Remember, if you are selling your home and buying another home you cannot lose. The savings you will receive on your purchase may well make up for the drop in market value of your home.
I look forward to hearing from you,
Cathy Deschenes, CDPE, ePRO
Re/Max East of the River
860-642-9918
0 votes Thank Flag Link Wed Jun 1, 2011
Hi Anna,

The best way to go about this would be to have an agent come in and view your property and do a CMA for your property so you can see what the current Market Value would be. If you are going to be purchasing again, after you sell your home it is a great time to buy as prices are low and interest rates are extremely low! If I can be of further assistance please call me 860-451-8047 ext. 307.

Lori Stenbeck
0 votes Thank Flag Link Tue May 24, 2011
You need direct your questions to potential listing agent who can comp your property, provide you DOM determine what your net after closing

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon Mar 21, 2011
Hi Anna!!!

I would love to help you, i can make a CMA for you, i work with Coldwell Banker Premiere RE, I have in the market right now, a house in New London, I love what i do.
I am serving all CT.


Feel free to contact me at 860-331-5156
andrearodriguezgove@hotmail.com

Thanks.
-Andrea Rodriguez.
0 votes Thank Flag Link Mon Mar 21, 2011
In my humble opinion I believe you should take advantage of the spring market now. I do not see homes in most areas rising appreciably for several years. If interest rates spike up dramatically it would have an adverse impact on your home as well. Think now is the best time but again, my opinion only! Best of Luck!!
0 votes Thank Flag Link Sun Mar 20, 2011
If you need to sell, are ready/want to sell no reason to wait. In order to establish a value, do contact a few local agents from different realty companies and ask for a CMA, comparative market analysis, review the data and make a determination on price, or consider hiring a professional appraiser. Unfortunately none of us knows for sure where the market will head tomorrow or down the road, but we all know today....
0 votes Thank Flag Link Sun Mar 20, 2011
Without the benefit of a crystal ball, itis hard to say exactly where the real estate market will be in 12 months. However, the fact that southeastern Connecticut and southern Rhode Island areas do not expect a substantial influx of hiring within that time, its a fair bet the prices will either stabilize or continue to decline slightly in that time. Employment will be the primary driver in home prices locally (though we also have a second home market, reliant on disposible income in the greater NYC area as well).
That said, it probably makes sense to sell sooner rather than later, so that you are freed up (financially) to make a purchase/rent decision in your destination area without the pressure of a need to sell.
As to the value of your home in today's market, request a CMA from a qualified realtor, using sold comparable properties.
I am happy to offer my services, and to show you how to properly go about pricing your home for a succesful sale.
0 votes Thank Flag Link Sun Mar 20, 2011
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