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That is the question of the hour and the answer depends on why you are considering putting the house on the market.
I would be looking for a bigger home. I hope to expand my family. I have a child in school and do not want to move her during the school year. So I would like to list March and if not sold by August take it off the market and relist the following March 2010.
Sounds like you have thought it through. Since you are moving up to a larger and more expensive home it makes sense to continue with your plan. You may get less on the sale side but you will pay less on the buy side and be able to take advantage of the low interest rates and good inventory to choose from. If you wait, you might be able to make more on the sale but you will pay more on the purchase and who knows what interest rates will be not to mention if both homes go up by the same proportion you stand to lose.
Depends where you are. In some localities, by next march you should be able to sell it for 10 or more percent less.
I am in McDONOUGH, GA zipcode 30253.
I don't know how accurate Trulia.com is but it says that my area has gone up 9.72%.
It shows the median and average sales listings as well as square footage has gone up.
your homes square footage has gone up? how did that happen?
No, the value per square foot.
It depends on whether or not you want to live another year without resolution.
Sell it now, sell it later: How patient are you?
Have you considered having a realtor come in and evaluate your present home, tell you what the average length of time on market is for nearby homes such as yours, estimate what you would net from the sale, show you what properies are currently available in the neighborhood you plan on moving to, what they have sold for in the last 3-6 months, what percentage of list they are selling at now, and what you might need to do to prepare your home for sale?
Once you have some real numbers and facts to work with, you will be able to make an informed decision about what you want to do when.
mks, if your home is ready for the market now and you're ok with actual value, why wait? You can always fall back on plan b. Try and get it right the first time to minimize family inconveniences. A few common reasons to considering waiting, is your house isn't ready for the market or real value is too low. Nobody can predict the market.
Price per square foot is a poor method to determine residential value. Most valuations don't adjust (positively or negatively) for other features like lot/landscaping, garage/parking and interior upgrades or flaws, etc... PSF works great for commercial.
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Put up for sell this March or wait until next March???
mks18412
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I would like to put my house up for sale in March. Should I keep it until next March or try to sell it? Do you think the housing market will be better or worse?
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