In the normal course of a year in Real Estate, the period from November to February is usually slow.  It is a period of busy holidays like Thanksgiving, Christmas, Hanukah and New Years.  Buyers and sellers alike often "hunker" down until March, waiting for the spring market.  This year the pattern has been broken and will be like no other in recent years.  The reason is:

 On Friday, November 6th, President Obama signed legislation to extend the $8,000 home buyer tax credit for first-time buyers and add a $6,500 tax credit for repeat buyers who have lived in their home for five of the previous eight years. Income limits are expanded to $125,000 for individuals and $225,000 for joint filers. Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The legislation places an $800,000 cap on the home sale price.

 With this action, I expect that the market will continue to be strong through this normally slow period.  For those sellers who are planning to wait before listing, I believe it will be a mistake.  While over 10% of Americans are out of work, for those who are working little has changed, except that confidence in the economy is weak.  The result is little desire to purchase, however when a deal is perceived, the buyers move quickly.  "Cash for Clunkers" is a prime example.

 But you say, I am going to wait until home values improve.  Well, there are no real signs that that is happening.  In the Greater Danbury Real Estate market, there is still no real proof the prices have hit bottom.  Inventories are getting smaller, sales are picking up, but prices are still dropping.

 If you want to sell, there is no better time than the next 6 months!  Contact me and I will provide you with an honest assessment of your homes value!