I want to sell, but should I wait?????

By
Real Estate Agent with Northstone Real Estate Inc.

I want to sell, but should I wait????? We’re in an active buyer’s market. Inventory is up, mortgage rates are down and buyers have more choices at better pricing than in many years. There are also more short sales and foreclosures on the market. Generally speaking this is not the market to jump into as a seller, if you can help it, but….

But your circumstances should dictate your decision more than just the market. What are your goals in selling and do the benefits outweigh any loss? This is a great market for the seller who sees the opportunity to upgrade.

Is your home getting too small? Has your family grown and you need more space? This could be your market.

Does your circumstance dictate that it is not a matter of if you need to sell but when? This could be your market.

Are you worried the market may get worse before it gets better? This could be your market.

In a recent article in the Seattle Times, a Seattle agent called the market as reaching bottom when prices fall to 20% off their recent highs (see below). Let’s assume the home you are selling was worth $500,000 at the peak of the market. If the real market value is now only $400,000, in theory you’ve lost $100,000 worth of equity (20%). Now the home you desire was worth $700,000 at the peak. It has also lost 20% (that is $140,000). So if you sell at $400,000 and buy at $560,000 you are $40,000 closer than if you were able to sell and buy at the peak.

A good agent can close the gap even more. In future posts I’ll address the other reasons you might want to list your home now. For a detailed market analysis including a staging consultation contact Dan or Elsie Tabit with Northstone Real Estate.

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Did you like this post?  Do you know someone else who might?  Do you know anyone who might benefit from our services?  Please pass this along to family or friends or contact us, we love to help.

Dan Tabit       206-310-8629    425-868-SOLD(7653)  DanTabit@Northstone.net

One stop Real Estate & Mortgage Services Serving Sammamish, Issaquah, Redmond, Bellevue, Mercer Island and the greater Seattle area.  

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Rainmaker
139,758
Brian Leavitt
Northstone Real Estate Inc. - Issaquah, WA

Good post Dan.  Very good point here.  For a move up buyer this is the best market in years. Don't forget that interest rates remain at historic lows.

Brian

Mar 02, 2009 08:48 PM #1
Rainer
82,341
Morris Childs
PEP source - Spartanburg, SC

Welcome to Active Rain. It just gets easier after your first blog. Just write about what interests you.

Mar 02, 2009 11:18 PM #2
Rainmaker
557,730
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Dan,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Mar 02, 2009 11:20 PM #3
Rainer
300,058
Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes

Hi and welcome to active|rain.

There are thousands of tips, tools, and tricks of the trade here. Be sure to check them out. Best of luck and see you around.

Friend me on Facebook 

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Mar 02, 2009 11:32 PM #4
Rainmaker
178,278
Jason Rose
123 ConEd LLC -- Michigan real estate continuing education - Farmington Hills, MI
www.123ConEd.com

Good morning, Dan. Welcome to Active Rain! I liked your post.  Keep them coming!

Mar 03, 2009 08:21 AM #5
Rainer
262,420
Jean Terry
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and welcome to Active Rain, a great site to network, share, learn, and have fun. Good luck. And if tou ever need an agent in the upstate of South Carolina, please call me.

Mar 03, 2009 09:29 AM #6
Rainer
339,009
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. This is a great site with lots of information.  Have fun with it and hope to see more of your blogs soon!  We have a team of three outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC.  Let us know if we can ever help. Again, welcome to AR!!

Mar 03, 2009 10:22 PM #7
Rainer
80,229
David Painter
Keller Williams Realty - Spartanburg, SC

Good to have you on Active Rain.  This is a good site for gathering information and interesting to see what others are blogging about. Contact us if we can be of service to you here in the Spartanburg / Greenville areas of South Carolina. We would be happy to send you a referral or to take good care of any referral you would send to us.

Mar 03, 2009 11:01 PM #8
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Rainmaker
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Dan Tabit

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