sara, Home Buyer in 08816

need to sell my condo in e.brunswick (bought for 250k 2 bd, 2 bth (05. is it wise to sell it in 08 or 09?

Asked by sara, 08816 Sun Apr 27, 2008

many
forecast say pricewise 2009 is better and some predict the worst ? which forecast is really going to happen in 2009?

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Answers

4
Do you need to sell or just want to sell? That should be the first question you should consider.
0 votes Thank Flag Link Wed Aug 20, 2008
The right time to sell is when you have a reason to sell.
What is your reason for considering a sale now?

Realtors do not normally have the ability to see into the future.
We do have a good handle on our local market because we are in it every day.
This gives us the ability to give you professional, fact-based opinions on the local real estate market.

Right now, most of the United States of America is experiencing a buyer's market. This means that sellers may be willing to accept terms that they would not accept in a seller's market.
Mortgage rates are near their historical low. Many of us recall when interest rates were 18%.
There are currently many financing options available to buyers which will not be available in October.
Congress could change this.

My suggestion for you is to ask your realtor to do a Seller's Net Proceeds Worksheet.
This will enable you to make an informed decision as to whether you want to sell now or not.
0 votes Thank Flag Link Wed Aug 20, 2008
Did you sell this yet? Call me if you did not.
0 votes Thank Flag Link Wed Aug 20, 2008
Hi,

No one can tell you this answer. If I had a nickle for every bad projection by an economist, I would be sipping pina coladas in The Bahamas right now.

Are you planning on moving up, buying a bigger property? That might influence your decison. While prices are suppressed now, you will feel that in your sale, and also benefit from it on the buy. If the buy is larger than the sale, the benefit outweighs the loss.

2008 has more ARM resets to come.

Deborah
0 votes Thank Flag Link Sun Apr 27, 2008
Deborah Madey, Real Estate Pro in Brick, NJ
MVP'08
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