Are you asking the wrong question to determine if now is the right time to buy or sell?
Sellers
Don't only ask - What are homes selling for in my area?
Ask - How much will you net after all associated selling expenses?
Don't only ask - How long is it taking for homes to sell?
Ask - how long from when you sign the listing until the proceeds are deposited into your account? Also, what date do you have to move out?
You shouldn't sell if you don't have another place lined up or are unsure about selling because buying back in the market is tough.
Buyers
Don't only ask - What are the comps?
Ask - What else can you buy that is a better deal than this home?
Don't only ask - Do you think prices will go down?
Ask - If you bought last year, two years ago, or five years ago, would you be in a better or worse financial situation?
Don't only ask - If you wait, will prices go down?
Ask - Can you afford the current payment and want to start building equity?
You shouldn't buy if you can't afford the payment or you're moving in 3 years or less.
George Lorimer at 619-846-1244
Get Your Home Value
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