Debra, Home Buyer in Oxford, GA

We would like to take advantage of the great buys out there. Is there a good or bad time to put your home on the market considering todays economy?

Asked by Debra, Oxford, GA Wed Oct 19, 2011

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Lee Taylor, Agent, Decatur, GA
Thu Oct 27, 2011
Yes, there is a good time and yes there is a bad time...and these choices have nothing to do with "today's economy."

"Today's economy" is the economy for the next twenty years in many respects - the next twenty years can be easily forecasted for malaise, torpor, upheaval, currency devaluation, inflation in many markets like oil, food and other commodities, deflation and flatness in other markets, like real estate...pain, blues, woe and agony, wars, rumors of wars, catastrophic disasters etc. etc. etc. - all expected, right?

However, these have a lot less to do with the health of "today's economy" for houses on your street, when related to the price of your house.

The good time is when you are staged, ready, priced to meet immediate demand, and financially prepared for the closing ahead. When you have clarity about the next steps after closing.

Whether a short sale or equity sale, in a declining or a flat market, the winners fire when ready.

The bad time is the opposite of that.

I gave Veronica a thumbs up - yes, it is true, we have a predictable, seasonal demand curve, but like many others have said, Debra - only your reasons matter - seasonal advantages and disadvantages are really not as relevant as your immediate needs.

Finally - what's up with your copy/paste analysis, Nonrealtor?

From that fantastic destination zip code, Nonrealtor is truly a pro.

Save yourself the effort next time and leave this stuff to professionals...

"looks like it may be difficult to sell..." What exactly do you know about Debra's real estate portfolio that qualifies you to say that, Nonrealtor???

Debra - my friend Barbara Groover at Sycamore-Oconee Brokers in Madison is one of the best veteran agents in the business in Georgia - she will be able to help you in Oxford if needed...if you need help in 30083, then please call me.
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1 vote
Veronika Bar…, Agent, Roswell, GA
Wed Oct 19, 2011
Hi Debra,

I agree with all the answers below. I guess, you are concerned about putting your house on market during the off-season time.
In my experience, this time of the year has certain advantages for sellers: less inventory to compete, most homes are distressed sale (in bad shape) and only serious qualified buyers are coming through your house.
Also, this is that time of the year when big companies relocate their employees so they can be ready to start in January.
I suggest that you ask your realtor to pull statistics on the area to see what your potential competition is.

Good luck!
2 votes
Stephanie Mc…, Agent, Canton, GA
Wed Oct 19, 2011
PLEASE put your house on the market now and take advantage of the amazing prices. Plus, buyers need another choice - not all buyers have the patience or time to deal with a bank or REO - waiting sometimes weeks just to get a signed contract. A buyer cannot begin the loan process without a signed contract - you can't do that on a verbal. Owner occupant listings are gold! If your home is in great shape and you price it competitively, it should sell and in most areas, quickly.
1 vote
Michael Hamm…, Agent, Suwanee, GA
Wed Oct 19, 2011
The best time to put it on the market is when you really have to sell, Debra. Then get it listed quickly, priced properly and marketed heavily. There is no better time to buy than when rates are low and prices are soft. Good Luck!

Michael Hammond
1 vote
Sally English, Agent, Atlanta, GA
Mon Nov 28, 2011
I gave Lee Taylor's answer a thumbs up. You gotta move when YOUR situation is the specific catalyst. Timing the real estate market is a serious challenge. Timing the market doesn't work that great in the stock market either.

Sally English
0 votes
Adam Morrison, Agent, Atlanta, GA
Fri Nov 25, 2011
This depends a lot on your own personal situation. Housing prices are obviously quite lower now than they have been in the past. Buying now would be great because of that, but I would be wary of trying to sell your home unless you think you can at least break even which depends on how much you paid, etc. Its a great time to buy though, with a lot of great investment opportunities. Feel free to contact me should you have anymore questions or would like to know more.

Adam Morrison
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0 votes
Jenny DeNunz…, Agent, Laguna Beach, CA
Thu Oct 20, 2011
We would advise you to place your home on the market if you can sell it without incurring a loss. Let a local agent help you understand the proper price for your home and then evaluate if you should sell. Most times people go about it backwards: They decide to sell and then try to set the price.
0 votes
Chuck Green, Agent, Norcross, GA
Thu Oct 20, 2011

Houses are bought and sold everyday. In this market a home that is priced right and in the proper condition will sell fairly quickly. Those that are poor condition and mispriced will sit on the market well past their intial listing period. In the Stone Mountain/Lilburn market I am finding a great amount of traffic currently with some homes receiving multiple offers. If you are ready to take advantage of the market now is a great time as you will see many home prices reduced when sellers feel they have missed the market by not pricing their home right intially. Veronica and Stephanie are right on target with their remarks.
If you are ready to discuss the opportunites that await please feel free to call me. I will be happy to help you through the decision making process. I have worked this area since 1984 and would be happy to provide my insights.

Chuck Green, Realtor
Keller Williams Realty
770-714-7077 (direct)
678-578-2788 (vm)
0 votes
NonRealtor, , 23456
Wed Oct 19, 2011
Hi Debra,
For your zip code Trulia says:

" The median sales price for homes in ZIP code 30083 in Stone Mountain from Jul 11 to Sep 11 was $46,200 based on 98 sales. Compared to the same period one year ago, the median sales price decreased 41.5%, or $32,724, and the number of sales decreased 21%. Average price per square foot for homes in 30083 was $31, a decrease of 50.8% compared to the same period last year. There are currently 420 resale and new homes in ZIP code 30083 on Trulia, including 1 open house, as well as 435 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 30083 was $70,518 for the week ending Oct 12, which represents a decrease of 1%, or $712, compared to the prior week. Popular ZIP codes in Stone Mountain include 30087 and 30083, with average listing prices of $167,703 and $70,518."

It looks like it may be difficult to sell. Good Luck
0 votes
Abu Musa, Agent, New York, NY
Wed Oct 19, 2011
This is the best time to buy.If you sell and buy youn may sell first or you can have the bridge mortgage.Good luck.
0 votes
Scott Godzyk, Agent, Manchester, NH
Wed Oct 19, 2011
Debra if you are in a position to be able to sell, then now is a great time as any. You may make less on teh sale of your house but will more than make up for it by the savings you will get buying your new home. meeting with a full time experienced listing agent in your area will help in letting you know what your house is worth in todays market to get you started, good luck
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0 votes
Nancy K Smith, Agent, Dodgeville, WI
Wed Oct 19, 2011
The bigger question is: Do you HAVE to sell? Do you HAVE to get $X in net proceeds from the sale of your home in order to move on? You are correct about the great buys that exist in today's market: There's lots of opportunity. However, you need to know your financial position before you go any further. Check with a local professional Realtor to get the best advice about activity in your market, and good luck!
0 votes
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