Should you wait for the “Spring Market” to sell your house?
Here is why NOW is the time to sell!
Fannie Mae recently released their Economics and Mortgage Market Analysis Report, which predicts forecasted median home sale prices for the next eight quarters. This government report is predicting falling home sale prices which will not get back to current levels until the 3rd quarter of 2012!
Supply and Demand in Wisconsin Housing
Home sales and pricing are directly correlated with supply and demand. The more months of inventory there are, the less the price your home may be worth. Right now, with the hold on foreclosures, while banks try to straighten out the paperwork mess, there is a lot less inventory. Once these discounted properties are released back into the marketplace, there will be a greater supply of homes to compete with.
Serious Buyers at this time of year
Homes being sold now, all decorated for the holidays, feel warm and comfortable. This is staging that can’t be done at any other time of year. Buyers who are looking at this time of year tend to be more serious buyers and a recent survey suggests 68% of all people feel now is a great time to buy.
So when your Realtor tells you now is a great time to sell, they’re giving you good advice!
Written by Jeff Berg
Assistant Manager, First Weber Group North Shore Office
photo credit http://www.flickr.com/photos/markadsit/5242615820/