Great question. Most home prices have dropped nationally. However, Germantown is a very stable community. I would suggest getting comps for your home in our current market. Also, get a realtor to do a walk through to make sure your home is staged to sell. Good luck. Let me know if I can assist you !
Thanks in advance,
Iâ€™m sure there are thousands of people in all areas that would like to have a concrete answer to that question. There is not such an answer. Like every other thing in our economy home prices are based on supply and demand. Demand has dwindled because the majority of people who want to purchase a house cannot qualify for a mortgage. True mortgage interest rates are a real bargain but like anything else, it is only a bargain if you can qualify. There are many folks who would like to sell. Some because they really could not afford the house they were allowed to purchase, therefore the same people who approved them for the purchase are now foreclosing. Since these financial institutions are now real estate poor they are â€œunloadingâ€ them are prices below the neighborhood rates which in turn drives down the neighborhood price down further to new lows. It is a vicious cycle and I donâ€™t think anyone can predict when this might end.
I have noticed more buyers I the market over the past few months which is a good sign but I donâ€™t think prices have improved much. There are still a large number homes available at bargain prices. I donâ€™t think I helped you make your decision except to say that you simply should look at your personal situation and make the decision that you believe in the best interest of your own family. No one has the correct answer; weâ€™re all taking our best guess. Good Luck. If I can help further let me know.