The housing market is recovering nicely. Prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly. Now may be the perfect time to sell your home and move to the dream house or beautiful location your family has always talked about.
The one suggestion I would definitely offer: DON’T OVERPRICE IT!!
Even though prices have increased by more than 10% over the last year, the acceleration of appreciation has slowed dramatically over the last few months.
Because investor purchases are declining and there are more listings coming onto the market, I believe that sellers should be very cautious when they price their house. The alternative might be that you could lose money by overpricing your home at the start as explained in a research study on the matter.
Though it is a great time to sell your house, pricing it right is crucial. Be sure your real estate agent tells you the truth about pricing your house.
If you have questions about what your house may be worth, send me a message, or give me a call.