Selling a home in today's market is a challenge. In Leon County, FL, both Sales and prices for single detached homes are lower this year than last. Experts are now saying that prices may bottom out in 2011 (heard that one before?), then show small increases until 2015, when prices may increase 3.47 % (one wonders how they can be so exact). Source Realtor.Org: Real Estate is at a Turning Point
With our many national issues, complicated with international crises, it's anyone's guess what will happen in the next four years and what life will be like in 2015.
Here's some advice for operating in today's market you may also have heard before, but is still true:
- Sellers who don't need to sell should take their home off the market.
- Sellers who must sell should do whatever it takes (most likely lowering the price) to get the house sold quickly (because prices are falling) or consider other options, like renting - consult a professional before taking this step to understand the expenses and risks of being a landlord.
- Buyers who plan to stay in a house for 5-10 years should jump on the many great buys and low interest. Otherwise, it probably makes more sense to rent.
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