Is this a good time to sell a house or would it be better to wait a few months or a different season?

Asked by Dave, Bryn Mawr, PA Wed Sep 15, 2010

Help the community by answering this question:

+ web reference
Web reference:

Answers

11
Louis Wolfs…, Agent, Needham, MA
Mon Sep 27, 2010
Dave,

Frank's answer below is not only correct but he is in your market. Don't waste time, call him, meet him, pick his brain and see if the 2 of you hit it off. Give him the listing and pack your bags.

Louis
Web Reference:  http://www.louiswolfson.com
0 votes
J Mario Preza, Agent, Daly City, CA
Mon Sep 27, 2010
When is a good time to sell? When there are buyers ready to buy, would be a simple enough answer. However, your question seems to be asking about something that few can answer with any accuracy, if it were different than that, all the homeowners who could have made a killing in the business when the houses were appreciating as much as 20 percent per month would have capitalized on that -- and we know that didn't happen for many as illustrated by the high percentage of houses "under water" (another story).

If you're looking to get top dollar for your house in any market, good, bad or otherwise, you need to evaluate what that top dollar is in the given period -- now? In other words, your house will bring in a price relative to what's happening in the market at that time. As an example, let's say you decided to wait for six months thinking the market might be better, what if the opposite happens? You'll probably be kicking yourself saying I should have sold when the market was "better". It is all relative. If you need to sell, then the choice is clear. If you don't need to sell, you may opt, as many homeowners seem to think, of putting on the wrong price only to get frustrated by no offers that meet you expectations. Have a reputable Realtor walk you through what is happening today, what has happened in the past 6 - 12 months, and what can be "forecasted" for the next 12 months in order to see the trends. What's more, you probably can do a little homework of your own through http://www.trulia.com, where such resources are available. The bottom line, your property will garner the best price if you've set up the house to do that -- fix it, stage it, prepare it thoroughly, and make it stand out among the competing houses, but most importantly, PRICE IT RIGHT! and you'll wind up with top dollar for today's prices; so long as you'll be happy with that outcome.
0 votes
Catherine Jo…, Agent, Bryn Mawr, PA
Mon Sep 27, 2010
Dave-

I think it's all relative to your objective. According to TrendMLS, 57% of homes listed last year in the Philadelphia metropolitan area sold. What this says to me is that in order to sell your home, you have to be very competitive with other home sellers. Buyers need to find more value in your home than in other properties out there. So the bottom line is, if you're not willing to price your property in the top 50% most competitively priced homes, you're not going to make it. As far as time of year is concerned, Thanksgiving through New Years is the slowest time in the business, with the market picking back up in January and getting strongest in the spring. That being said, I don't forsee any radical change in values between this fall and next spring. If you need to sell, make sure your property is in the BEST selling condition it can be, choose an agent that will work agressively to market your home, and take a logical look at the marketplace with your agent for find a competitive sale price.

I would be happy to consult with you on the value of your home and a strategic marketing plan for it if I can help. You can reach me at 610-680-7273 or katejoynt@gmail.com

Sincerely,

Kate Joynt
0 votes
Frank Dolski, Agent, Lahaska, PA
Thu Sep 16, 2010
Dave,
The question is what is your objective? If it is to sell to buy up or even downsize, now is the time. Interest rates are at an all time low and are inching slightly upward. It really boils down to your motivation. Historically, the housing market will slow down from mid November until after the holidays. Obviously prime time is March-July with the most settlements occurring in June.
But, if you are considering listing anyway, I would recommend putting your home up as soon as it is ready to list and only after staging, de-cluttering and preparing your home for maximum curb appeal and appearance. I use a company called Creative Staging who would provide a free estimate for staging which includes a full report. Most professional staging companies charge a fee.
I know the area well but it is a bit far for me to consider but I do have the resources to assist you in picking the top agents and brokers in your area. Our relocation and referral division provides me with such information as it is imperative that you interview a few Realtors and find one who will meet your needs in terms of marketing (in all mediums), experience and market share. Please feel to email me or call me if you would like to discuss this matter as I would be more than willing to help you. I am very experienced and have been one of the top #1 or #2 Realtors in our 20 office franchise for the past 4 years. I encourage you to review my website, Linked-In or Coldwell Banker.com for my profile. I connect agents with buyers and sellers all over the country and abroad. Good luck on your decision and endeavor!

Best Regards,
Frank Dolski MBA, ABR, e-PRO,
Associate Broker
CARTUS Certified Relocation and Marketing Specialist
Coldwell Banker Hearthside Realtors-Lahaska, PA
215-803-3237
215-794-1070 x103
f.dolski@cbhearthside.com
http://www.FrankDolski.Com
Web Reference:  http://www.FrankDolski.com
0 votes
Steve Sisman, Agent, Media, PA
Wed Sep 15, 2010
Good evening Dave, sorry to take this long to respond (on appointments). From now until the 3rd week of October is considered the real estate fallselling market. Then again for the first three weeks of November. Between the Thanksgiving, Christmas and New Year holidays things slow down. Durning the holiday season buyers still buy, it's just that there are less Looky Loos and more serious buyers shopping during that time. Sellers seem to believe that the holiday season is not a good time to market your home; but, I disagree. A home tastefully decorated for the holidays makes one heck of a first impression. Other considerations: 1-Current interest rates are extremely enticing, 2-We know what the current home sale market conditions are; but, we don't know what they'll be like in a few months; and, 3-Usually there are less homes on the market at this time of year. Less inventory available may bring a higher selling price. Waiting is a gamble, you could get a higher selling price for your home in a few months; or, you could lose thousands, no-one knows? Depending on your personal situation, the timing should be geared toward your comfort level. If you'd like a copy of my List of Suggested Questions to Ask your real estate, prior to hiring one, just send me an email and I'll email a copy back to you. I hope my response is of some help. Steve
0 votes
Terrence Cha…, Home Owner, Allentown, PA
Wed Sep 15, 2010
First, I need to ask "Do you need to sell?" If the answer is yes, then go ahead and sell. If the answer is no, then I would ask you another question. "Are you downsizing or going for a bigger home?" If you are downsizing AND you don't need to sell, then you should wait. If you are looking for a larger home (or just more expensive), then you should go ahead and sell your home and move into the other.

Let me explain. Let's "assume" that home A was $150K several years ago and now it may "get" $135K out of it. That's a 10% "loss" of $15K. Now let's assume that home B was $300K at the same time of home A and now it may get (assuming the same 10% loss) $270K. That's a $30K "loss". If you were in home B wanting to go in home A, that would be a $15K "loss". And if you are in home A wanting home B, then you get a $15K "savings" getting into.

However, this is not really a look at reality. In reality, there are many areas which really didn't take such a hard hit in this recession, yet other areas may have. There is also one hard truth. The higher priced your home was several years ago, the harder the hit. I've seen homes get 50% "decreases" in value if they were in the millions.

Also, you need to look at the current situation. The wave of the initial rate adjustments is done, yet there is another big wave of adjustable rate mortgages which will reset between now and mid 2013 or so. So things may get worse. You need to think of being thrifty even if you must move unless you can ride through the next wave. If you are financially well off, then riding out the storm could be a good thing. I can't say for sure that things will get worse because I don't have a working crystal ball.

If you are moving down, then do so now. If you are moving up, then perhaps you should wait a few years for the larger home price to fall further (if they do). Yet with the rate where they are now, I do not believe that they will get any lower.

I hope that clarified things a bit. Or at the very least, give you more to think about.
0 votes
Jeanette DiL…, Agent, Bryn Mawr, PA
Wed Sep 15, 2010
Hi Dave,

I'd be happy to preview your home, provide a Comparative Market Analysis (CMA) and discuss what would be the best options available for you based on your specific needs. Timing is dependent on what your goals are in the short and long term. A good Realtor takes all your needs into consideration and will advise accordingly. Give me a call and we can chat...no obligation.

Jeanette DiLuco, Realtor SFR
Keller Williams Main Line Realty, Bryn Mawr, PA
610-764-8164 or 610-520-0100
jdiluco@kw.com
Web Reference:  http://www.jdiluco.com
0 votes
Fredy Rodrig…, Agent, DESERT HOT SPRINGS, CA
Wed Sep 15, 2010
Now is the time to sell as rates are record low and people are motivated to sell. Sell now if you can!
0 votes
Aubree Willi…, Agent, San Diego, CA
Wed Sep 15, 2010
Dave, I don't know if your neck of the woods experienced double digit depreciation like my SoCal market, so for my clients here, it depends on your long term goals...

We are clearly in a more depressed selling market compared to 3 or 4 years ago, BUT if you intend to buy another property right away, you make up for it on the buy-side, regardless of the season or market activity. So now would be a great time to sell.

If you don't plan to buy right away, and don't have to sell now (meaning you can hold onto it for the next 5-7 years) you may want to consider not selling- maybe renting it out until the market appreciates in another 5 years or so.

If you do need to sell now, regardless of if you are buying or not, now is actually a great time to get your home on the market. Inventory is on the way down as we go into the Fall and Winter months, historically it happens this way every year. That means less competition for you. And the buyers that are looking to buy right now, especially during the Holiday Season, tend to be the much more serious buyers (casual lookers don't want to be bothered with home shopping during the holidays). So you may not have as many people looking, or as many offers, but the interest you do get are from serious buyers- the good ones.
0 votes
Shannon Diio…, Agent, Media, PA
Wed Sep 15, 2010
What's great about selling now is that interest rates are really at an all-time low making it an attractive time to buy! Depending how much equity you have in your home, this could put you at a great advantage over other sellers in your area. There is a large portion of the current inventory that may be overpriced because the homeowner may be in an upside down situation. If you've got the equity and price your home correctly, it is a great time to sell! However, condition is also a major factor. You'll want to check out the competition and make sure your home is in the best possible condition. Feel free to visit my website and/or contact me if you would like further info!
0 votes
James Taylor, , Orange Park, FL
Wed Sep 15, 2010
It is never a bad time to begin to consider selling your home. A Realtor in your area would be happy to sit down with you and put together a Comparative Market Analysis (CMA) and see what the homes in your area are generally going for. If the results of the CMA are in your favor and you are wanting to list your house for that amount then it could be nothing but good for you especially entering into the buyers market afterwards it affords you a great opportunity to flex your financial horsepower with the distressed properties that are out there.
0 votes
Search Advice
Search
Ask our community a question
Home Selling in Bryn Mawr Zip Codes

Email me when…

Learn more