Will The Real Estate Market Go Up Anytime Soon?
By b2b on November 23rd, 2009I live in Southern California, more specifically in Ventura county and have a home I would like to sell. However i was wondering if I should hold off for a couple months just in case the market goes back up a little, then I could get more for my home. Would it be easier to sell now or later? Real estate professionals how long do you think this decline with last? Thank you very much.
DONT LISTEN TO FOOLS SAYING ITS STAYING THIS WAY
the fact is only certain areas of the country are effected real bad and others are not effected at all! in fact they are still growing!
dont listen to the ney sayers they are the same people buying up all the cheap properties!
we are seeing an upswing ever so slight but it is starting to move i dont believe this will stay bad for much longer maybe the foreclosures but most of this adjustment is just about over!
as soon as the lenders are done licking thier wounds they will loosen guidelines! as far as ventura i think I wounld hang on the the property for anouther year only to get the full gain you want! we are very close to the bottom and some parts of the country are seeing value gains! you want to sell when prices are climbing not going down!
The market continues to drop, so I would list quickly at a very attractive price and get on with it. If you look up the Case-Schiller House Price Index (or also known as the S&P Housing Index) you will see that price declines are accelerating and we can expect another 20% or so declines at least. Better to sell now than wait, unless you plan on waiting for a few years. DQNews also has statistics for California, they saw prices drop about 20% in the last year, and sales are way down.
list now – it won’t get any better yet for several months possibly a year – might as well throw it out there and start the waiting game and HOPE prices don’t go down too much more – be sure to price it BELOW your best competitor – the longer something sits on the market right now – the less it’s worth so price it right from the start (trust me) it’s tough enough in this market and it’s only TONS worse if you don’t price REALISTICALLY
Let’s think positive and we’ve seen the bottom. Doesn’t mean prices or values will rise anytime soon, but at least we don’t appear to be losing value. We still need some breathing room, it’s been one hellva fall and I don’t know about anyone else but I need to catch by breathe! LOL
Now can we go on with making a living in this business?
the market will continue to get worse over the next couple years i would sell now or hold on to it for 4 to 8 years if you can. the market will not turn in the next couple months.
no reason not to list now, but this happens to the market every decade. this one was worst because of the interest rate problems w/the mortgage companies, which we have never had before..ever, so it may take longer to recoup!!
The activity level is going up, which should help you. I deal with lower end housing, homes under 200k, but if the activity level is high there it should filter up.
You should hold off as long as you can. I’m talking about years, because you need to wait for the market and economy to make a strong rebound. Good luck!
No one really knows how long the market is going to be this way, I would hold off for now and see what happens after the election.
The market won’t go up while there Bush is president.
No
depends on where you live
On an individual basis, the Real Estate market has little impact on the sale of your particular house. If you want to list it, do so, and see what happens.
After all, someone could look at your house, fall in love with it, and even though they made a first “low” offer, love it so much that they come up to what you feel the house is worth.
Overall, many house/properties are not worth what they were months ago. For example, in the areas around San Francisco, too many homes were built, and purchased, because people who worked in San Francisco wanted to live in the “country areas”. Now, the people who bought these homes can’t afford the gas to drive back and forth, so prices have dropped.
The old Real Estate rule is “Location, Location, Location”. So, if you are in a “hot” location, you might be able to sell your house easily. Or, someone may just fall in love with your house.
Remember, the Real Estate Agent wants you to list your home for a minimum amount, because it is easier to sell if the price is lower than it might be, than if it is higher. Please be careful to do your own research and find-out what recent sales are in your area. You can easily find-out what sale prices were a year ago, too. In this way, you’ll have a better feel for what your house is worth.
Many factors go into the price of a house. They include how many houses are for sale in your area, the interest rates, and the overall fear factor. In addition, there are people who want and can afford a home, and there is a buyer for every home.
If someone could really predict the short-term future, they would be really, really rich. In the long term, the prices of houses will go up, because each year there are more people in the USA.