Should I Sell Now or Wait It Out?

Should I sell now or wait it out? That is the question so many homeowners are asking themselves today. I do not have a crystal ball but I tell my Pinecrest Florida homeowners that if they want to sell, they need to get their home on the market ASAP! You will most likely get more money for your home today than you will 6 months from now.

Here is a current example of what the Pinecrest Florida real estate market is doing. Eight months ago, in April, I was asked to do a market analysis on a Pinecrest Florida home. At that time I told the homeowners they could expect to sell their home for $825,000. I met with these same folks yesterday to go over an updated market analysis. I showed them that today they could expect to sell their home for $785,000. The expected sales price of their home dropped 5% in these past eight months.

A balanced real estate market has 6 months worth of inventory, more than that it’s considered a depreciating market, less than that we have an appreciating market. Today in Pinecrest Florida we have a 16 months supply of single family homes – prices will be going down.

So, if you are thinking of selling your home, get off the fence and get it on the market today!