Should I Sell My Home Now?
Good Monday Morning!
Congratulations to the University of Oregon Duck football team for yet another milestone and their new #1 ranking in the BCS Poll. The Ducks are now #1 nationally in all polls.
One of the questions that I hear on a daily basis is, "should I sell my home now?" This is a question that of course varies significantly from person to person, but here are some things to consider if you are contemplating the sale of your existing residence.
1. Your home has lost value over the past several years, this is a known fact. Your home most likely lose even more value over the next one to two years and it may be as many as 5-7 years before you reach back to the value that your home has today. If you don't need to sell and you can wait this out, then maybe selling today is not best for you.
2. If you are selling and buying again in the same area, you are trading apples for apples. In fact if you are upgrading to a larger more expensive home, chances are that the new home you are buying has taken a larger price hit than the one you are selling.
3. Mortgage interest rates remain at historic lows. This means that if you sell and buy again in this market then you can take advantage of these low rates. They won't hang around forever.
4. Long term, home ownership remains a great investment. In these times of economic chaos there are few places that you can place your investment dollars that will have the security and the long term return.
5. If you are selling in one market and moving to another, there is a chance that the market you are moving to may have taken a larger price hit than the one you are leaving. This is something worth checking into, because many major Real Estate market areas have taken huge hits on home prices and it just might be a situation that you can easily take advantage of.
The decision to sell a home in this market is a large one for most people, but there are some advantages for many people that they may never see again. If you are considering the sale of your home and would like some professional advice, please contact me. I would be more than happy to go over the plus's and minus's of your particular situation with you.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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5950 Barger Drive
Wonderful, spacious house with attached studio/office with potential separate living area. Huge living room with fireplace, fantastic dining area, large kitchen, a light & bright upstairs master, large bonus, utility room, covered porch, beautifully...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
