Should You Sell Your Home Now ... or wait?

"To be or not to be" that was Shakespeare's question, while today's question that many are asking me is, "To sell or not to sell".

While I cannot predict what our future holds, there are some questions that I can ask that can help you decide if you should sell now ... or wait.

Question 1:
Do you HAVE to sell?
Obviously, if the answer is yes then call me and we'll sell your home.   But ...

Question 2:
Could you rent your home out instead of selling?
This is a good question to think about because if you have to move but you are "upside down" in your mortgage and you don't want to pay money in order to sell your home, or if you think you would like to try to hold on to your home and see if it's value goes up, then renting out your home could be your answer.

Which leads to the next big question on everyone's mind which is:  Is the real estate market going to keep going up?

We have certainly seen bidding wars during this 2012 season (see my article HERE telling how many bids are showing up on some houses) and we have no signs that the bidding wars are slowing down even as we head into the Thanksgiving/Christmas Season, but does that mean that 2013 will see a great increase in the prices of homes?

My personal opinion is that we will not see housing prices climb too quickly ... at least not like we got used to seeing in 2005.  The appraisers and banks, it seems, are bent on keeping the prices of houses in check this time around and so we are not seeing the prices of homes climb like one would think they would be doing when bidding wars are taking place on every single home that goes up for sale.

Sure, cash investors are jumping into the bidding wars and outbidding everyone else's bids by a few thousand dollars because they don't have to worry about getting an appraisal when paying all cash, but still these prices are not affecting the majority of prices of homes ... again, for fear that an appraisal will not come through.

And yes, there are a few brave Sellers who are indeed asking $20,000 or more over what their neighboring comps show support of, hoping that Buyers will be frustrated with the bidding wars enough to find the extra $20,000+ in their own pockets and pay the Sellers their price, thus avoiding dependance on the appraisers to give them the extra value for their Loan, but this has not proven to be very effective.  After all, most Buyers don't want to overpay too much on any home.  They just don't.  And so I'm watching some Sellers sit and wait on their over-inflated asking prices.

Homes are indeed SELLING FASTER right now than they have since our prices started declining in 2006 so now IS A GREAT time to sell, if you are able.  Bidding wars are in full-force so you won't have to have your home up For Sale very long if you are priced correctly, and with interest rates still at all time lows you could move on and get the next house of your dreams! A bigger home ... or the smaller home that you need ... at a really great price and with a great interest rate.

So generally speaking, YES this is a great time to sell your property.

Question 3:
But what if you owe more money on the home than what it could currently sell for?
Banks are still doing Loan Modifications if you are "underwater" and can't afford your current mortgage note yet you would like to stay living in your home or Banks are currently eager to allow the SHORT SALE of your house versus having to go to Foreclosure, as it means less time and less expense for the Bank.  So SHORT SELLING your house is another option for you to consider if you need to sell your home.  (Call me today to discuss a Short Sale of your home and BE SURE TO ASK ME about your Banks offer of anywhere from $3,000 to $30,000 when you sell your home by Short Sale!)

I know that selling a property can be a very confusing time and a very emotional time for many, so call me to discuss some of the points that I have brought up in this Article or to discuss your particular situation.  There are solutions and you may find that right now is a GREAT TIME TO SELL REAL ESTATE for you too.

Call me at:

LeeAnn Bell -- 661-309-2364

It is always my pleasure to answer all questions that you have and help you with your decision in any way that I can ... with no pressure!

Below is what one client had to say about working with me:

“I appreciate your professionalism and keeping me up-to-date throughout the process.  It was a real pleasure to work with you." - Lynn G.

Article Posted 2012