Inventory in many areas is at an all-time low, rates are near all-time lows, yet underemployment and unrealistic valuations by sellers keep a lid on a potential booming market. Getting the sellers who can and should sell on the market will create new comps and a buzz that can create the needed momentum we need to move this economy.
The trade up or trade down demos need to be shaken into reality. What better time is there to get the dream house, retirement home, or pure added square footage needed than now? If you need a smaller house, you have already missed the Obama window to sell for capital gain benefit, so take advantage of the Obama interest rates and depressed home values before you get double whammied.
If you're retiring sell that home now so you can invest in the home and interest rate you will have forever. Cut the emotional ties to the equity you raised your family in. Don't confuse that value with market value. We are seeing too many people trying to buy their retirement home while they try and sell at an unrealistic price their current family homestead. Under current lending terms, and, frankly any reasonable terms, you cant have two primary residences and you cant carry two dream homes unless you are very financially fortunate. Bite the bullet and make the move.
You can't time the market and you can't find many better times to Buy AND Sell.
Value= Expected Benefits x Trust/Cost....What is your value in the eye of your targeted audience? can you see it from their eyes? To be able to see that equation from those eyes is the key to any person in any business...
MortgageOrb: List Of Improving Housing Markets Expands To All 50 States.
As long as fear and uncertainty weigh on the industry no appraiser wants to be the first one to mark "improving" for values. If they did the review appraisal will disagree with their numbers. Clarity in the HVCC model that allows healthy discourse and encourages new blood into the appraisal industry is not being discussed and it needs to be..