Should you sell your Metro Detroit home and get out of town or should you wait it out until the market rebounds?
The main question I have to ask is why you are selling?
- Are you looking to move on with live after retiring?
- Do you have to sell?
- Do you have any equity in the home?
- Would you consider renting out the house?
- Would you consider selling the house on a land contract?
- Are you moving because of a job?
- How long do you have to wait for the Detroit real estate market to come back?
- Is your home updated to today's standards? Or is it in need of updates?
- What kind of money are you looking to get out of the house?
These are questions that you need to have answers for. So your listing real estate agent will be able to help you achieve your goals and understand what you really want.
My honest opinion is that it is going to take years for the market to come back to price levels we have seen back in 2003 and 2004. The amount of years I mean is at least ten years. But that is just my guess.
So my last question to you is what is your time frame that you want to sell in? Can you afford to sit on the sidelines for 5 to 10 years?
Russ Ravary your Metro Detroit real estate agent
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