My New Blog

None of us has a crystal ball to determine where the market is headed.  However with all the charts and graphs indicating market trends ...we have a more educated guess. 

Currently we feel the market is still depreciating at a rate of 1 to 1.5% per month with probably another 18 to 24 months to go until we reach the bottom.  Once we reach the bottom of the market its anybodies guess as to how long we'll stay there.  We think realistically 1 to 2 years and then a gradual increase of 3 or perhaps as much as 5% appreciation after that.  That is a healthier market than what we've experienced. 

That being said, If you absolutely have to sell your home in today's market, then price your home to sell; and you must be under the curve. 

Picture it like this...You buy stock for $60 a share for XYZ Corporation.  XYZ Corporation goes through a hard time, and their shares hit bottom and now your share is only worth $30.  Do you think someone is going to pay you $50 or $55 for that share?  No, they may be willing to pay the current market price.  Some would even offer you less...take it! It's all about risk, isn't it?  Are you willing to wait for another buyer to come along?  Are you aware of how many months supply of homes are currently on the market? 

If you don't need to sell your home, take it off the market and enjoy your home and your family!  Don't put added stress in your household.