BLOG: Should I Stay or Should I Go?

Just like Shakespeare's age-old question of whether "to be or not to be," this is now the question so many are asking themselves. “Would-be” sellers have been biding their time for a few years now, and many wonder if they should continue to wait or just bite the bullet and sell now.

Without a crystal ball, that’s a pretty tough question to answer. Some economists predict that the market will finally turn in 2012, and things will pick up. Let’s hope so but even if things improve, does that mean it’s time to sell? 

Maybe.

Unemployment is still a concern. Even if we‘ve seen the worst of the recession, most analysts believe the housing recovery could still take a few years. An instant turnaround is probably not in the cards. But this is an election year, and that could help boost things for all of us.

The housing market is generally better this year than it was last year at this time. Interest rates are lower and loans are more readily available. This has brought an increasing number of buyers into the market.  But it's still a buyer's market and could remain so for some time to come.

So if it’s a buyer’s market and you’re a seller, what should you do? It really depends on several factors:

• Do you have equity?
• Do you need to sell now for financial or business reasons?
• What’s your local market like?
• Are you going to buy something else now?

There is no “right” answer here because each market and each seller is different. But now can still be a good time to sell, and the one thing we do know is that spring is coming and that will be the best time to sell. Spring time brings more buyers to the pool than any other time of the year, and with low interest rates and the right marketing, this could be your time.

A good real estate agent can help you sort through these questions so that you
can make the right decision for you.