IS IT TIME TO SELL ? MAYBE.

  One of the consequences of the Real Estate downturn is many people have been forced to hold their properties longer then planned.  Now that our market is improving many owners are pondering whether to sell.  The reasons vary, retirement, downsizing, upsizing, etc. depending on household dynamics.  I have gleaned some data for you to use while thinking about moving to the next phase of homeownership.  At the top of the boom first quarter 2006 we were 39% overpriced leading to the crash.  Third quarter of 2012 we were 14% undervalued, and the third quarter of 2013 looks to be up 7% or only 7% undervalue.  This is showing good movement as we come out of this long downturn.  From May-July 2013 interest rose 1% generally a sign of consumer confidence in the market.  Yet rates are still historically low, affordability is strong, demand is high and supply is low.  The higher rates and rising prices have gotten buyers off the fence creating more sales.  Mortgage lenders are looking for purchase business as the refinance market slows, loan-value and debt-income ratios have eased.  This makes it easier for buyers to get financed of course not like the boom days that fueled the collapse.  The active listings on the market are down 13% from a year ago and days on market are down 28% to 54 days average.  Number of units sold in July was up 6.5% and 17% from July 2012.  The median sales price is up 13% from the year before, considering all these factors.   IS IT TIME TO SELL ?

New Year = Time to Declutter

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