Home Selling in Winton>Question Details

Jemotaher, Home Seller in Winton, CA

seeking to sell older home in winton. Will the market continue to decrease in the next 4 months/?

Asked by Jemotaher, Winton, CA Sun Nov 13, 2011

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The market values in Merced County continue to drop. Many MLS listings are inordinately high compared to actual sold comparables. Also, MLS does not report all the solds so you must look at all sales in entire county through Recorder/Assessors Office to compare. Best to have a relative that is a realtor as the best deals never see the light of day and giving an agent a listing does not insure it will get marketed properly if at all. A very strange real estate market in Merced County, California and I'm a retired Certified General Appraiser.
0 votes Thank Flag Link Tue Dec 27, 2011
Hello,
Are you going to sell it as a short sale or a regular sale? If it is a short sale, the seller will not get any money out of the sale since the bank will have to approve for the short sale and take the loss. So it doesn't matter if the value goes down or up in 4 months since it is not going to be much. If you are selling as a regular sale, chances are you either bought the house long time before or just bought recently as investment and now flipping the house. If you are the lucky one that have the house for a long time, then in 4 months the value still not vary much since current inventory of houses that can can close fast are in shortage. In this case, you can make some profits. No one can predict what will happen tomorrow. If you would like to know the comparable of what recently sold in your area, I will be happy to help. Then you can decide if it is good for you to sell or not.
Karolyn Do
209-617-3718
Lucky Homes Real Estate
karolyndo@gmail.com
Broker/ Owner, Realtor in Merced, CA
0 votes Thank Flag Link Sun Nov 13, 2011
Merced County is still one of the highest foreclosure areas in the nation. With the current inventory still consisting of many short sales and foreclosures in this area, there are still signs pointing to a continued depression of the market or, at the very least, a leveling out in the next few years. The rate of decrease in values may have slowed so in a shorter time period you may not see significant changes. However, if there is a change in the amount of inventory, the # of qualified buyers looking to purchase, the interest rate, or the general economy of the area you could see affected values reflect those changes in the short term.

I just closed a nice, older home in Cressey so if you would like to talk about your homes potential value and your plans to sell, please let me know.

Best of luck,
Adam Dalton, Century 21 M&M and Associates
adalton@c21mm.com - (209)480-6079
0 votes Thank Flag Link Sun Nov 13, 2011
It depends. It is stable in my area of Bucks County which is a Philadelphia subuerb. Have you spoken to an expert in CA? Do you need some help finding one?
Web Reference: http://www.FrankDolski.com
0 votes Thank Flag Link Sun Nov 13, 2011
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