Is Now The Right Time To Put My Home For Sale?
I'm getting that question quite a bit this past week and I have to say my answer varies but it always starts like this: "Why are you moving?” Real Estate dominates the media these days and some folks are getting caught up in the message and making decisions, when they should step back and identify the reasons.
First of all, if you don't have to move you are in a good place! Assuming you purchased your home in Cincinnati area pre 2004, you stand a chance to be in an excellent position to make some money on the sale of your home. Not tons...mind you and it depends on the area of town that you are in along with a few other variables. But taking advantage of the low home prices and the tax credit might just swing things to your favor. You may take a loss on your home, but benefit BIG time on your purchase, plus $6500 credit on your taxes next year. Nothing to sneeze at!
However, if you don’t' have to move, and you have not paid down much of your mortgage since your purchase well, now may not be a good time to put your home on the market. For starters you would not be doing the economy any favors! The last thing this market needs is another home listed by sellers who are not motivated to sell. That's just inventory that will sit on the shelf and clutter the homes of sellers who need to sell, and who are motivated. My advice, be realistic to the reasons why you want to move and evaluate all possibilities prior to putting your home on the market. Talk to a REALTOR, talk to several! We have the tools to evaluate what's going on specific to your area and provide you with all the information so you can make an informed decision. That's what REALTORs do; we provide consultation and help guide our clients through the many choices they face in regards to their homes.
In the end, it's not my place as a REALTOR to tell you if now is a good time to buy or sell. It is my duty, my responsibility, to provide to you the information and guide you through the process so that you can determine whether or not now is a good time buy or sell. If you're looking for someone to sing roses and lollipops about the market...I'm not your guy...I don't sing - ever. I am reminded of Joe Friday, "Just the facts, ma'am". That's my goal - in fact, that's my fiduciary duty to you.
Chris Wood
REALTOR
www.chrisjwood.com
Email: chris@chrisjwood.com
(513) 382-2474