Carl,
Everything is relative - if you sell low - you buy low and vice-versa - I think the market is definitely picking up and waiting would be a mistake since the mortgage rates and incentives are with us now and who knows how long! We are top listing and selling agents with a team behind us and would love to help you!

Carl, It all depends on your circumstances. A home sells for what it is worth in the present market. You sell high you buy high, sell low you buy low. The market in Mahopac is rebounding, prices are starting to stablize and I am seeing more buyers and more deals coming together recently.. Buyers are more confident and so are the sellers. Sellers have become more realistic in their pricing and homes are moving in the area. If you want to move you will price your home according to the current market. and you will sell. Gigi

Hi Carl!
If you're asking about the general market, here's what statistics show:
1) There were 67 homes sold in Mahopac from Jan 1 2009 to today
2) That means that there were a bit over 8 homes sold per month on average
3) There are 168 active single family listings on the market in Mahopac
4) That means that 168/8.4=20 months of inventory

If sellers, as a whole, recognize that the market has moved, and start to price their homes accordingly, it will take about 20 months to get better. Some homes are still hot and selling right away- pricing is key!

I agree with Mike Trinchitella that taking the plunge to sell depends on when you bought. Financing is still low and there are a lot of great opportunities out there...It may pay to take less, if you can, and buy up!

It all depends on your current situation and when you bought your home. If you bought your house between 2004-2006 you probably paid top dollar because we are currently back to 2003 prices in Mahopac. If you bought prior to 2004 and are also going to be a buyer in this market then it is a great opportunity for you to sell and by now.

Even if you did buy during the high end of the market it does not mean it is a bad time to sell (as long as you do not owe more than the house is worth). Think of buying and selling as a total investment. If you sell for say $50,000 less than you paid but you are fortunate to buy something that dropped maybe $100,000 then the overall investment paid off. I had a client who just sold their home for less then they paid but they bought a house that would have cost them well over $150,000 more if they had sold their home when it would have "made them money", ie at the peak of the market. So they made out well.

If you are just selling and not buying anything again it really depends on your situation and what you owe but if you wait for your house to be worth more money (few years from now) then you will also be paying more when you purchase so waiting will not help you.

I am guessing we have another year left of declining prices but the decline will not be as huge as the past year then a nice leveling off period then a very slow gradual incline but nothing like the appreciation that happened from 2003-2006.

PS.. curious to know what your house is worth?: http://www.MahopacHomeValues.com