Great Question! Depending on Condition, Location and Competition in the area I would say this is the best time to sell your home. It is spring market and there are allot of buyers out looking.
One thing that is hurting the regular seller is all the Forclosures in the area. They are selling for 20-40% below regular market value.
If you forward me your email address I can send you a CMA of your area. Free no Obligation. My email is email@example.com or check me out at http://www.danfirks.com you can search the MLS from there!
Hope to hear from you soon!
Have a great weekend!
The way to get the best estimate is to ask a Realtor to come and do a free market analysis for you. Checking out what's available on the website is fine to look at numbers. You need the knowledge and experience of a Realtor to help you decide why each house on the listing is priced / sold a certain way.
There are many things to a house than just number of bedrooms, ..etc - such as location, floor plan, type of amenities, quality of material, presentation, school, market condition / sales trend at present, timing, inventory on the market at the time, ..etc. Only people with intimate knowledge of the real estate market will be able to give you a number with reasoning behind it.
There are a ton of realtors on here that are going to give you a ton of opinions. What you need is an appraisers opinion. Call me, I can have my appraiser do a comp search for you @ no cost.
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The first question I always ask from sellers in your position is "How long have you been in your house?" --- You can still "make out" in this market if you are planning to move, even in this market... There are two reasons for this... (1) If you have been in your home for a good period of time (5-10 years... the more the better), then you have already benefited greatly from appreciation on your home during the 'good years'... Even if your home has slipped in the past year or so, you still owned through the times where appreciation was easily 10% in the Wheatlands area. You will be okay selling now because you held your property during a time where appreciation was great. (2) If you are 'buying up', you can make out in this market as well... For example... If you are selling a $350,000 home and taking 10% less (round # for ease of example), then you will take a $35,000 hit on selling your home... Now... if you go and buy a $500,000 home in the Naperville North area and get that home at 10% under value, you are gaining $50,000 on your purchase... So even though you took a $35,000 hit on your home, you are still making out because of market conditions by $15,000 ($50,000 - $35,000)...
You see, you will still come out ahead...
Pleaes feel free to contact me if you have any questions regarding this answer... My direct line is 630.906.7266
If you want a detailed answer from a totally unbiased source consider ordering an appraisal on your home. This is routinely done in divorce settlements, estate sales, PMI removal, asset valuations for business loans etc. You may even be able to use it to support your selling price in this market filled with lowball offers.
Any IL licensed appraiser will do. Here is one I like.