Will your house be worth more in the spring? Anyone thinking about selling must wonder. Should they sell now; or should they wait for the spring? Most years that would be an interesting question. There is a belief that many buyers come out in the spring; and with that increase in demand for housing, prices may appreciate. This year is unlike any year in recent memory. Most experts believe there will be continuing depreciation of home values throughout the next 18 months. I recently wrote that there may be a window of opportunity throughout the rest of 2010 as the banks try to straighten out the paperwork on thousands of foreclosures. Once that paperwork is corrected, the flow of distressed properties coming to the market at discounted prices will begin again. This was mentioned in the latest Home Price Expectation Survey. Robert Shiller, MacroMarkets co-founder and chief economist said this:
Other experts are also reporting that prices will soften next yearIn October’s RPX Monthly Housing Market Report, CEO Michael Feder commented:
The very next day, in a special release, Clear Capital reported a “sudden and dramatic” drop in U.S. home prices:
Bottom LineIf you plan to sell within the next year, you shouldn’t wait for the spring market. Price the home at a compelling price to make sure it sells in the next sixty days. Hire the best Realtor to accomplish your goals. Call me! 305-494-1616 |