Is it better to sell a house now or in a year?

Asked by Dalton_478, 77036 Sun Jun 21, 2009

I would like to sell my house and move closer to work, but it is not that important. Do you think I should sell now or will it be worth more in a year or two?

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Margery Wils…, Agent, Chandler, AZ
Sun Jun 21, 2009
Hi Dalton. Good question.

Because every market is different across the US, I would suggest you first speak to a reputable REALTOR in your area who can give you a comparable (comp) of your home in today's market. Home prices are continuing to decline in some places, but maintaining their value in others (and believe it or not in some places, increasing due to buyers' demands). Should you be in a declining market, you can look at the situation this way: Even with netting less than you'd like to on your current home, you certainly could make up for it with the purchase of another home and the potential "deal" on it you could get. Remember, some of the richest people in the world have made their big money when times were bad for folks. It makes sense when you think like a business person. Best of luck to you!
1 vote
L. Smith, Renter, 75252
Thu Aug 15, 2013
I definitely agree with Margie, the only person who can truly give you the truth about the inconsistent ups and downs our market is a reputable realtor. And the best ones will actually guide you the rest of the way.
0 votes
Tony Camero, , Houston, TX
Wed Jun 24, 2009
Ditto on the answer from Margaret. If you wait to sell for a while you might get more for your home...and pay more for your new home.....and vice versa

Tony Camero
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0 votes
Margaret T.…, Agent, Conroe, TX
Mon Jun 22, 2009
I was sort of hoping someone had known the answer to your question so that I could plan my time off.
To me only the Man up above knows and right now I am not sure he does.
The best time to sell is when it is best for you. The prices will be adjusted up or down where you buy the same as they are where you sell, therefore if it is more convenient to move for your family now and it if affordable I would do it now. Who knows what the future holds.
Good Luck
0 votes
Mary Ann Lip…, , Spring, TX
Mon Jun 22, 2009
Nobody can predict what home values, the interest rate or gas will be in a year. It changes daily but now, it is definitely a buyers' market , so if you're going to buy another home when you sell, the advantage is huge. You may take a loss on what you're selling but save $1000's on the one you're purchasing. The interest rate has never been this low so again if you need to finance the home you buy, the time couldn't be better

if you want more information, write me at :
0 votes
Dominick Dina, Agent, San Antonio, TX
Mon Jun 22, 2009
Hey Dalton,

The question is, what is more important to you...moving closer to work or selling you home at the highest profit possible.

Prices are depressed and will remain so for the forseeable future. If you wait they may or may not improve. No one has a crystal ball.

Think carefully before you make your decision. If you are happy where you are then whatis the advantage to move now?

Good luck,

Dominick Dina, Broker/Owner
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Sun Jun 21, 2009
Dalton, I'd advise you to sell now. I would not expect much, if any appreciation, in the next year or two. At best, things will level off at some point, and remain flat. There may be pockets of activity (or appreciation) around the country, but with this jittery economy, I wouldn't gamble on things getting that much better or jumping up in a year or so. Mortgage rates have shown some recent instability, and if they begin to climb, it may affect the market adversely. In my area, people who waited to sell this year rather than last year wish they hadn't.

Good luck with whatever you do!
ps Realtors don't "hate to tell you what is going to happen in a year" - we just don't happen to be able to predict the one can.
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TCP Real Est…, Agent, Austin, TX
Sun Jun 21, 2009
It is hard to predict the future. Many factors will dictate that - the economy, interest rates, the Houston market, etc. With that said, Houston has a fairly steady market. We did not see huge appreciations like some areas of the country. Although some neighborhoods may have had depreciated values this past year because of foreclosures, the average sales price is starting to climb again.

If you are not in a hurry to sell or need the funds, then you can stay another year or two and sell. However, you can also considering placing your home on the market now and see what offers come in. You do not have to accept an offer less than asking price. It is one way to test the market. I think you will see that you will have luck selling now. Interest rates are still low and more buyers are out in the summer.

If you do sell now, you'll also have the opportunity to find a great deal out there. If sales prices rise in the next year or two and yield to more profit in your home, you will also be spending more money on your next home.

Samantha Mitchell
Buyer Specialist with The Katie K Team
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0 votes
Amber Carril…, , Houston, TX
Sun Jun 21, 2009
Hi Dalton,
That's a great question! Thank goodness we live in Houston! We have been in a seller's market here for many years. The historical figures in most of Houston show our properties to be on the increase year over year. However, as we don't have a crystal ball, it's difficult to tell you how things will look next year or the year after. I would survey your own personal situation and let that be the indicator as to whether you should go ahead and sell. Please let me know if I can be of any further assistance.

Amber Carrillo, Broker/Owner
It Homes
Direct 832-643-5632
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0 votes
Gail W. Nash, Agent, Houston, TX
Sun Jun 21, 2009
According to our MLS information, your zip code is slightly in a sellers' market. A balanced market would mean that it would take 6 months to sell what is on the market right now, at the pace that homes have sold for in the last 12 months. This zip code has 5.1 months of inventory. So it is a great time for sellers and buyers in 77036. Let me know if I can help you with this sale!
0 votes
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