Home Selling in Miami>Question Details

Mysti, Home Seller in Miami, FL

is this the best time to sell a home.?

Asked by Mysti, Miami, FL Wed Jan 12, 2011

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36
Not Really my friend, prices will rise a little more with the time, but if you have to or you need to, just do it. Good luck!

Jose Guzman
http://www.MiamiApartmentsAndHomes.com
4 votes Thank Flag Link Tue Oct 9, 2012
In my opinion yes, and its slowly getting better.
1 vote Thank Flag Link Fri Apr 22, 2011
I posted this answer as you might want to know about the emerging proposals by the current administration that will affect both buyers and sellers.

Buy your House NOW! according to toSmart Money Magazine.

According to a just published article in Smart Money Magazine, Why You Should by That Home Now, sounds the opening cannon shot into what everyone is wondering about when wanting to buy or sell a home.

Consumers ask the following questions: Has the market stabilized ? Is it a good time to buy my home ? Should I wait and see what happens to the housing market? Is my local market affected ?

The Smart Money Article makes the following major predictions and observations:

Fanny and Freddie exit the scene
Government backed loans are shrinking in number and size
Smaller mortgage loan amounts
Higher fees for loans
Bigger down payments

Real Estate Professionals and Mortgage lenders struggle to lead in mixed currents and muddy waters. The short answer is who knows for sure.

I think back to many storm forecasters before modern prediction tools came to bear on stormy weather. I am no storm forecaster; however, our mothers taught us to carry an umbrella just in case ....

Is the Real Estate Sky Falling or what is your opinion of buying or selling now?

"My interest is in the future, because I am going to spend the rest of my life there."
- Charles F. Kettering

Michael Chalambaga
BROKER ASSOCIATE | Realtor
DeRiso & Haynes Realty - Texas

All information is provided "as is" with no guarantees or warranty. M. Chalambaga © 2011 -
1 vote Thank Flag Link Thu Feb 17, 2011
If you can afford to wait for 2 - 5 years, you'll likely be happy you did so. It is still a buyers market and will probably continue for at least another year. For more info on Buyer Agents, check out http://truesarasota.com/why-a-buyer-agent
1 vote Thank Flag Link Thu Jan 20, 2011
Mysti
While each local market is different, most of the national economic projections from economists at B of A, Moody's, S & P, Morgan Stanley, Case Shiller, etc. are projecting prices sliding another 5-10% in 2011. This is due to the huge shadow inventory of distressed properties which the banks will be releasing into the market in higher numbers this year and for the next 2+ years that will drag prices down and keep them down (we will not see Fall 2010 prices until 2013). When you couple this with the recent increases in mortgage rates which affect buyer affordability, now is the time to sell.
1 vote Thank Flag Link Thu Jan 13, 2011
Good time to sell single family house 2012
0 votes Thank Flag Link Sun Oct 7, 2012
IF GOOD TIME, BUT ALL DEPENDS ON YOUR LOCATION AND LOCATION OF PROPERTY
CALL ME AT 954-297-5634
0 votes Thank Flag Link Wed May 4, 2011
Mysti,

Last year was the year of the "First Time Home Buyer" and a lot of entry level homes were sold.

The majority of sellers that we are working with are looking to buy low and right now that requires selling low.

I call the "Move Over Sellers" The want to move closer to the kids, away from the kids, into a smaller home, closer to work and so on.

You have to look at your situation and see what is changing or has changed in your life.
-
If you want to put your home on the market to "See what happens" you should probably wait.

Best Wishes

Ray Levy

Coldwell Banker Camelot Realty
Mount Dora, FL 32757
352-978-8551
0 votes Thank Flag Link Sat Jan 29, 2011
should seek a professional Real estates
0 votes Thank Flag Link Thu Jan 27, 2011
Hi Mysti,

Nice name by the way, I personally believe there could not be worse time to sell a home think about this, will it be good to sell anything when everyone else is doing it also especially when others can afford to sell much lower than you and they are still not selling?
I think home owners are at a definite disadvantage competing with Bank owned REO's and desperate seller making no money on a sale and doing short sale to save a little dignity in there credit standing, even if you lived in your home for 20 years and have some equity selling now is like throwing those years of hard earn money away if you can I would advice all sellers like the latter who can to wait to do so.
It is a real shame what has happened but on the other hand it is a great time to buy, in the words of one of my colleagues "When the cost of duplicating an existing home, when you factor in the expense of buying bricks and mortar and putting it all together, is going to be more expensive." then Buy Buy Buy.


Selah (It is a signature exhortation for our thoughtful reflection and weighing of what we have just read)
Brian Halstead
786-303-1046
Local S.East Florida expert
Halstead Homes Realty
License real estate broker
0 votes Thank Flag Link Thu Jan 27, 2011
definitely a good time to buy properties, properties are priced low the interest is low
0 votes Thank Flag Link Tue Jan 25, 2011
Depending on where you live, the market is most likely down. However, the important question to ask and answer is it the right time for YOU to sell your home? If you have to move, you have to move, for whatever reasons.

Speak with a local, licensed Realtor to get an idea of real comparatives so you can see what you can expect. This should be done at no charge, and in fact it will not cost you anything unless you accept an offer.

Best of luck.
0 votes Thank Flag Link Sat Jan 22, 2011
I must agree with my fellow agents. This is not the time to sell unless your situation calls for it.
Some reasons for selling in today's might be :

1. Relocation
2. Divorce
3. Estate
4. Death in the family
5. Hardship ( Whether financial or emotional )
6. Pre Foreclosure
7. Job Loss

These are some samples of why you or someone else might need to sell in this market. If you can ride the storm 2-5 years your patience will be rewarded,however everyone has their reasons.

Good luck in your decision

Carlos del Amo
President
Smart Growth Realty
786-269-3247
0 votes Thank Flag Link Sat Jan 22, 2011
If your property has profi, a good time if you're not going to enter a process of loss, if you can wait 2 more year, it is best for you.
0 votes Thank Flag Link Fri Jan 21, 2011
The market has improved considerably. It is definitely a great time to buy a home. Where are you thinking of moving to? There are plenty of good buyers out there right now and the market is doing very well in many areas. The first step would be to get a detailed home comparative market analysis of your home to find out how much your home is currently worth and how much you would net from the sale of your home. This will really help be able to make an educated decision if now is a good time for you to sell. Feel free to call me directly and we can have one sent to you via email. I know of a great realtor in your area that specializes in working with sellers to achieve the highest price when selling. I look forward to helping you in anyway I can.

Have a good day,
Heather Paul
Coldwell Banker
(424)625-1037
heatherprealtor@gmail.com
Web Reference: http://www.heatherpaul.net
0 votes Thank Flag Link Mon Jan 17, 2011
Mysti
First question is where do you want to move to, and how soon do you want to be there. 2nd question is do you have high equity in the house and can you "affford" to close where it is priced like it is the year 2000. If you see this as a buying opportunity this is a great time to sell! buying up in a down market makes sense. Assuming you have a good credit score, job stability and allowable debt to income ratios you can get a loan. If your intention is to downsize your home, might be better off waiting a year or two since you need to live somewhere.

Best of luck!
0 votes Thank Flag Link Mon Jan 17, 2011
Maybe, but truly, the best time to sell your home is when your home is ready to sell! Why not present it in it's best light right from the beginning? Take a day, week, or even a month to prepare and it will be preferred over comparable properties, meaning a faster sale!
0 votes Thank Flag Link Thu Jan 13, 2011
It depends on your situation. If you're selling low and buying low great! Anyone selling real estate in this market must price the property competitively. Use a GOOD and trustworthy agent/broker! There are buyers out there! If you really want to sell your home you've got to present it right and price it right!

Good luck!
0 votes Thank Flag Link Thu Jan 13, 2011
Hi Mysti, if your goal is to sell your home in calendar year 2011, then "yes" now is the best time to get on the market. The Spring Market is traditionally the most robust period in any 12 month cycle, with more sellers and buyers entering the mix. I think there is a decided advantage for sellers who beat the rush, because they may well enjoy an advantage of getting the attention of buyers hungry for new inventory before the competition becomes too intense.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Thu Jan 13, 2011
If your home looks"Pretty" and is "Priced" right, then yes now is a great time.
Make sure you clean up and perg your "stuff"; have a nuetral pallet and put it on for February* The spring market starts then, people start to look on line, and then actually think about moving in The Spring.
The rates are great, so if a buyer has good credit they will look at your home if you take my advice.
As a Realtor in Mayland and Professional Organizer I help my clients get their home all spruced up and ready to show. Make sure you get a good realtor to work with you. Call me anytime for advice or any questions.
Thanks, Aileen 410~365~1732
0 votes Thank Flag Link Thu Jan 13, 2011
Like Realtor, I'll be making a market analysis, them re-check those comparables and adjust , adjust depending on many aspect of propertiy and comparables, and realistic price come out. The other process could be testing market and dependind on how much move in the market on the first month, I can adjust price. The best time to sell home is in the moment you realize that you need it.
0 votes Thank Flag Link Thu Jan 13, 2011
Home sell all year long. In the northeast where I sell,some Sellers do not want to list in the winter because there home look better in the spring. You often hear about the "strong spring market". Less homes are on the market in the winter months which means less competition for you home.In Miami I sure the market is different. If you are worried about getting less for your home in this market but, you are also buying, you will save the money you are losing on your sale.
0 votes Thank Flag Link Thu Jan 13, 2011
if you are trying to upgrade this is the best time to sell and best time to buy. but if your trying to maximize your profit i would recommend to stay in the market for another five years , by that time the inventory of forclosure have dropped drasticlly and the market have jumped at lease 25% if not more . takes this into consideration that we will come out of this down turn things are turning around slowley and we will see a up market again in the next five years.
0 votes Thank Flag Link Thu Jan 13, 2011
I've read the other answers and for the most part I agree. You are in Miami and that economy has been hit just as hard as we have gotten it in California but I'm sure just like California there are still spots where the economy is rebounding already. Here are some tips to consider:

1. Focus on your goals and needs. Do you need to sell? What are you wanting to do with the money you get from your home sale? This will give you an idea of how much money you will need to make on the sale don't forget to take into account the costs of selling.

2. How much is your property worth? This will also depend on the condition of your home but get an idea do a search here on Trulia for houses with similar attributes to yours (i.e. # of bedrooms, same neighborhood), use their options to reduce your search to those houses that have sold. Make sure you compare to recent sales, those within the last 90 days will work best.

3. The winter is the slowest time for home sales so you aren't likely to get as good of a price as you would in the warmer months. But if your market is still correcting right now and prices are declining you may not want to wait too long.

4. Find out what the average days on market (DOM) is right now for your community that will allow you to know how long it might take to sell and how long to wait before dropping your price if you need to sell.

5. Another thing to consider is events in your neighborhood that will make your house more attractive to a perspective buyer, like good schools and times when those schools are registering for the next school year.

Ultimately, unless you have to I wouldn't try to sell on your own in this market but do your own research, educate yourself and find a good realtor. Preferably one that will take the time to answer any questions you have.
0 votes Thank Flag Link Thu Jan 13, 2011
This is a good time to sell a home for certain sellers. Let me explain.. If you bought at the right time and you are not loosing money on the house you are going to sell, you have the great advantage of being "NOT A SHORT SALE, NOT AN REO". Lots of buyers don't want to deal with a short sale. They are very happy to find a "Fair Market" listing with a real human being as the seller. If you are also going to be buying a home, after you sell your current home, you are going to benefit from the low market prices and the low interest rates in going into your next home! So, for some, this is a GREAT TIME to be a seller.
0 votes Thank Flag Link Thu Jan 13, 2011
First you should appraise your property, and by doing this you will find out how much your property could be selling in the market right now. Then you will know if what you could be asking is a buyer’s market deal as a seller point of view. The Greatest luck on your decision.

David Garcia
Royal Florida Realty
http://www.davidsellsmiami.com
0 votes Thank Flag Link Thu Jan 13, 2011
Your listing agent should be providing you status on when is a great time to sell any property. Florida could be winter months with "snow birds" searching for a home to sell vs. other states in USA

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 Thu Jan 13, 2011
It depends. As long as you are making a profit, you can always sell. But if you are losing, I would not. My recommendation to you is to get a comparable market analysis to find out the value of your home. With the CMA you will know if you really want to sell or not. I'm here to Serve you :)
0 votes Thank Flag Link Thu Jan 13, 2011
Hi Mysti,

The best time to sell a home is when it will work right for you. If you are ready to move as an owner occupant or move on as an investor and your house is presentable, then now is the best time to sell your home.

Waiting would be good if you know that it will be worth more later. If that is the case, then waiting is good. But no one has a crytal ball to know exactly what it will be worth later. Will there be more competition later? Will there be less demand? These things would make it harder later.

Do the things that are needed to get your home the best price - make it presentable and attractive to the most buyers - and choose a good listing agent.

Best of luck.
0 votes Thank Flag Link Thu Jan 13, 2011
Every single day properties prices going up since 2009. During the falling market everything was uncertain, but now four years after looks like that out many buyers looking for a property like first time buyers or investor. Interest rate is great. Buy in Miami at this time is going to be like a saving account, you are going to have a return. If you need help, my pleasure to help you to find your home/investment property.
0 votes Thank Flag Link Thu Jan 13, 2011
It's all relative. If you sold five years ago, you probably would have sold at a higher price. However, today is a better time to sell than anytime over the next several years. The prices are still declining. So, whatever you can get today is more than you will get next year or two years from today, and very likely beyond that for years to come. Once we get to the bottom, we expect real estate prices to stay flat for a long time.

Please call with any questions. I would be happy to discuss this with your further.

Amy Givoni, Broker
Givoni Realty Corp.
561-361-8555
amygivoni@realtor.com
http://www.amygivoni.com
0 votes Thank Flag Link Thu Jan 13, 2011
Hello Mysti,
There are many qualifierd buyers looking for homes right now.I beliefe there is a buyer for every home as long as it is priced right.
Good luck and feel free to contact me if you need help.
Web Reference: http://www.rosiemorot.com
0 votes Thank Flag Link Thu Jan 13, 2011
Hi Mysti,

Next year (2012) you may believe that 2011 was a great time to sell. Wish we had a crystal ball but with the lack of jobs and shadow inventory of foreclosed homes the supply will probably continue to outstrip the demand so prices may be significantly lower next year.

Now, if our "leaders" come up with an innovative idea to increase demand for Real Estate (i.e. allowing immediate immigration with the cash purchase of at least a $100k property) then things may change. Right now there is nothing on the table that would point to higher demand for Real Estate, sorry to say...

Hope this helps.

Alma
0 votes Thank Flag Link Thu Jan 13, 2011
The slobber ball answer would be YES! but there are alot of factors that go into putting a home on the market. Yes, alot of people pull their homes off the market during the winter months leaving less inventory on the market & giving them an edge, but if it is not priced at what is selling (regardless of if you think it's priced according to the CMA in the neighborhood or area), The home has to be staged propertly, not too cluttered, and it needs to be available to show within a short period of time...YesIf all those (and more) things are taken into consideration, then YES this is the best time to sell a home!
0 votes Thank Flag Link Wed Jan 12, 2011
Yes absolutely this is the best time to sell! Don't wait for the shadow inventory to step out in the light!
0 votes Thank Flag Link Wed Jan 12, 2011
Hello Mysti,

Actually this time is as good as any other time to sell your home. Now, the benefits from it to you would depend on the equity on your property and the reasons behind your sale. If you need to sell because you are relocating and do not have enough equity on your home you will probably have to apply with your current lender to do a short sale and will come out with no money or (if your qualify) the bank will help you with some moving expenses. The same situation would apply if you feel you can't keep up with your current mortgage payments and need to get out of it. But if you have equity in your home and just want to move to a bigger house or your kids moved out and you want less space then you will be able to sell your home at the current market value. You do not have to discount your property unless it needs repairs. If you need any further assistance please feel free to call me at 786-619-7891. Good luck.
0 votes Thank Flag Link Wed Jan 12, 2011
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