The answer to this question is always a little subjective. But in a nutshell, Judi really has the only answer that everyone can agree on and that is that we sell houses yearround. So I guess you could say that the market is good. Right now, price is the determining factor more than anything else. So I am going to share with you some numbers that you can consider that might help you decide on your next step.
If there is a mortgage on the home, the monthly out of pocket expense to live in the home is about 1.5% of the market value. This will include the mortgage payment, taxes, insurance, maintenance, utilities, etc. This is money that will not be recovered when the property sells. So for a $200,000 house, the monthly out of pocket expense is about $3,000. For every month that a house is on the market, this is lost equity. Also, we are in a slightly declining market...about 4% annually. This means that the market value of the house will decrease 4% over the next 12 months. So again, a $200,000 house will lose about $8,000 in market value or $665 per month. This totals $3,665 per month in lost equity.
My point is this...if you decide to sell, you need to take a hard look at 2 things:
1. A competitive List Price that is "leading the market". In other words, a price that is better than everything else on the market.
2. A real estate Broker than can show you how they can get your home sold quickly...so that you can minimize equity loss.
I hope this information is helpful to you. Thank you for using Trulia Voices. Please feel free to let me know if you would like for one of my professional agents to contact you.
Alan Wynn - Branch Manager
Coldwell Banker Residential Brokerage
Dallas, Texas 75248
214.729.5582 (cell / text)