Wait for a Real Estate Recovery or Sell Now?

Many homeowners are struggling to deal with the reality of the sluggish recovery in home prices.  They are wondering if they should sell now or wait for a housing recovery to come around.  The answers are as varied as the local markets the homes are located in. One of the main keys to answering this question is seller motivation.  Motivated home sellers have reentered the market and are finding conditions much better than they expected.  The real estate crash the great recession left millions of homeowners upside down, owing more on their mortgage than the home would sell for.  2012 has seen significant improvements in the real estate market in many areas of the country. Thousands of homeowners have begun “testing the waters” to see if a sale might be practical.  

Even with this positive news millions more remain in homes they would sell if market conditions equaled those of before the crash. Seniors wishing to downsize or relocate to a warmer climate, couples who have growing families outgrowing their homes, career minded folks who need to relocate in order to take advantage of employment opportunities, and other home owners who are just looking for a different or more exciting environment are looking to the housing market and wondering if it’s possible to sell and find an affordable replacement home.  According to several local real estate agents and are beginning to appreciate as home inventory tightens.   are on the rise as well with homes in good condition and price right selling quickly.

The good news is that the real estate markets in many areas of the country have been experiencing rising home prices. It is far from the values we saw in the bubble years but thousands of home sellers have already sold their homes for prices they found acceptable.   Those desiring to sell their home, especially those who need to sell, should contact an experienced, local real estate professional and find out what their options are. They just may be surprised to discover that a sale is not only feasible it may more advantageous than they thought it would be.  Home inventory levels in many areas have begun to turn to favor home sellers; and homes are being sold every day for prices that, in some cases, equal those of six or seven years ago. And with mortgage interest rates remaining at historically low levels, a growing number of buyers are entering the market.

 Finally, those home sellers who are concerned that their home’s value has not rebounded sufficiently to justify a sale should remember that the home they plan to purchase may also be offered at a discount from past years. The perceived loss from a sale could be recouped in a shrewd purchase of another home. Perfect conditions rarely exist. But, for many, today’s housing market may be just about as perfect as they’ll find.