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
BROKER ASSOCIATE | Realtor
DeRiso & Haynes Realty - Texas
All information is provided "as is" with no guarantees or warranty. M. Chalambaga Â© 2011 -
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.
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.
Coldwell Banker Camelot Realty
Mount Dora, FL 32757
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)
Local S.East Florida expert
Halstead Homes Realty
License real estate broker
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.
Some reasons for selling in today's might be :
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
Smart Growth Realty
Have a good day,
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!
Good luck to you,
Unwavering Commitment to Service
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
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.
Royal Florida Realty
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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.
Please call with any questions. I would be happy to discuss this with your further.
Amy Givoni, Broker
Givoni Realty Corp.
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.
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.
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.