Most people who ask me that, think my answer would be to wait. The good news is that if your home sells for less due to the market, then the home that you will be buying will cost you less. Simple right!
Say you sold your home for $100k and are buying a home for $150k. If the market makes a good comeback and home values increase by 6% then your existing home will sell for $106k and your new home will cost around $159k. You just lost $3,000. So when is the best time to move up? RIGHT NOW.
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As a Realtor®, my goal is to sell your home for the best price in the shortest amount of time with the least hassle to you. My goal is to move beyond expectation by working harder, longer and simply investing more towards the sale of your home. I do this because of a basic belief in the golden rule and a philosophy that if I do my best, you will recommend my services to everyone you know.
I am compelled to continually grow in knowledge, improve in skills, invest more in clients and simply dedicate myself to excellence in the field of real estate. My goal is to Move Beyond Expectation. Contact me and find out what your options are for selling your home as quickly as possible with less hassle for you.
August 2009
Low mortgage rates and the federal tax credit for first-time buyers has unfortunately not spurred an increase in buyer demand for homes. Year-to-date, pending sales are down 22.1 percent from a year ago and closed sales are down 22.8 percent.
Thankfully, new listings in the Peoria housing market are also on the decline in year-over-year comparisons. The 732 new listings for the month of August are 4.2 percent below last year.
The market has been able to maintain a decent level of balance between buyers and sellers, which along with a relative scarcity of foreclosures, has kept home prices relatively stable so far. The year-to-date median sales price is dead-even with last year at $119,000. Other North American housing markets are experiencing significant declines in home values.
The Greater Peoria IL Area includes: Germantown Hills, Washington, East Peoria, Peoria, Pekin, Metamora, Bartonville, Morton, Spring Bay, West Peoria, Dunlap, Marquette Heights, Creve Coeur, Peoria Heights and all of Tazewell, Woodford and Peoria Counties.
If you got up and watched the forecast for Orlando Florida this morning and they said...”It’s going to be a rainy day today” You just can’t assume that when you step out the door it is going to be raining here in Peoria. Just like the weather forecast, It’s a mistake to assume that because they say the market is soft in Florida that it’s bad in Peoria.
That aside, “It’s a little rainy in Peoria.” The market has soften. Home values are hovering around 2007 prices. That’s better than in some parts of the country where prices have returned to early 90’s pricing... or worse.
Economic indicators are showing improvements for 2010, though most experts don’t expect the national housing market to come rushing back. I expect the greatest jump in improvement will happen in the spring of 2010 or 2011.
Peoria Association of Realtors Report
Should I wait for the market to change to sell my house?
Realtors Viewpoint
