Why You MUST NOT WAIT to Sell Your House

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The best real estate professionals are trying to convince anyone thinking of selling in the near future to correct the price on their home and sell now before the home loses even further value. Some cynical homeowners think the agent is just trying to create fear in order to make a quick sale. Some sellers are waiting until after the holidays. Some sellers are waiting until the ‘spring selling season’. Today, I want to say that your agent is giving you great advice - Sell Now!
I want to prove this is the best thing for you and your family. The most complete data available is usually generated by the local and national real estate associations. We realize that this data is sometimes considered suspect by the consumer (especially the cynics). For that reason, I will make my point without using any industry data generated by these associations. Instead, I will use the government agency Fannie Mae’s November Economics and Mortgage Market Analysis Report.
Fannie Mae forecasted median home sales prices for the next eight quarters. Their projections call for prices to fall and to not again reach today’s values until the 3rd Quarter of 2012 (see graph below). Remember, these are not real estate industry projections. These are government projections.

Bottom Line

If you are looking to sell within the next two years, the highest sales price you will be able to attain for your home is its current value. Don’t wait. Take the advice of your agent and price it to sell today as the house will not increase in value in the short term.