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my property value seems to keep going down. should I continue to wait to sell, or just do it now?

have values stabilized yet, or do you predict they will continue to drop.
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December 29 2008 - Billings
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Profile picture for klarek the realist


Consumer, of course.  I guess you missed the million + memos being passed around for the past few years, but the market prices are vastly overinflated and HAVE to come down.  We're not even close to being there yet.  So that means that whatever you sell now, you'll sell for more than you will any time in the next several years.  And whatever you buy now will continue to drop in value.  Guaranteed.   Pretty simple stuff really.
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January 02 2009
Its not a good time to sell in most markets.  If you market is following the national trend then the following probably applies. If you do not need to sell then do not.  If you have to sell, then you need to do what is necessary to sell NOW.

It really depends on your personal situation and what your goals are.
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January 02 2009
Profile picture for consumer22
sunny view you advise people not to buy but then you advise people to sell????
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January 02 2009

I agree that if you know you will need to move within a short period of time, then the time to sell is now, especially since you can get such a great rate on your next home.  Homes are still selling, but you have to be competitive.  As you prepare, walk through you home imagining you are thinkning of buying and ask yourself if you would.

Good luck!

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December 29 2008
Profile picture for sunnyview
I don't know your area, but the larger problems in the economy are affecting the national RE market deeply. If you want to sell, I would not wait. Commit to doing what it takes to sell (minor repairs, declutter, spruce up etc.) and price your house very aggressively for the best shot in this market. Waiting in the short term 1-2 years will not get you a higher price and is likely to get you a lower one. If you already know you want out, don't wait, sell.
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December 29 2008

Your decision will depend on your goals.  You cant "time" the market be it Real-estate or Stocks.  So if you sell now you get a better deal on the next home you purchase.  If you sell alter you make more on the sale but may not the same purchase deal.  If you NEED another home and would benefit from a different location, larger home, etc.. then sell now.  Interest rates are excellent and getting a new home at a lower rate NOW could bt worth ore than selling your home for a 2-3% more next year.

Rob Leo

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December 29 2008
Every thing I read says for at least another or so.
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December 29 2008
 
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my property value seems to keep going down. should I continue to wait to sell, or just do it now?
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Latest answer by klarek the realist
January 02 2009 | 7 answers
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