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View Poll Results: Sell or Wait
Sell 12 60.00%
Wait 8 40.00%
Voters: 20. You may not vote on this poll

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Old 02-27-2013, 04:26 PM
 
11 posts, read 18,910 times
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It seems that housing market is getting better. I live in Plano and being an empty nester, playing with the idea to sell my big house and move into my old condo. Do you suggest it is a good time to sell or should I wait another year for a better price. I am in no hurry. Some say that inventory is low so it is easier to sell. What do you suggest?
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Old 02-27-2013, 05:28 PM
 
2,348 posts, read 4,817,186 times
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Quote:
Originally Posted by Downton View Post
It seems that housing market is getting better. I live in Plano and being an empty nester, playing with the idea to sell my big house and move into my old condo. Do you suggest it is a good time to sell or should I wait another year for a better price. I am in no hurry. Some say that inventory is low so it is easier to sell. What do you suggest?
Might be easier to sell but that doesn't mean prices have rebounded to maximize your $$. I would wait, there is still alot of foreclosure activity you just don't hear about depressing the market a bit.
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Old 02-27-2013, 08:50 PM
 
13,194 posts, read 28,287,721 times
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What price point is your home? Interest rates are going to rise this year which squeezes the lower-end (<$400kish) buyers more than higher end buyers. The biggest thing going for sellers today is lack of inventory. Almost every home in desirable neighborhoods is selling within days or weeks vs months. You may get another 3-5% in value next year, but it may take longer to sell if the inventory gets replenished to a healthy level. Buyers are desperate now- especially at certain price points and certain school districts (Plano being one) so it may be easier to sell a home that isn't in perfectly updated condition now vs later when there is more on the market to pick through.
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Old 02-27-2013, 08:53 PM
 
13,194 posts, read 28,287,721 times
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Quote:
Originally Posted by skids929 View Post
Might be easier to sell but that doesn't mean prices have rebounded to maximize your $$. I would wait, there is still alot of foreclosure activity you just don't hear about depressing the market a bit.
Prices are rising, but it's impossible to time the market's peak. Better to pick a point in time when you've made "enough" (whether it's now or in a few years) and cover.

I don't know how much foreclosure activity there is in the better neighborhoods in DFW. It's been quite a few months since I noticed any decent listings in MLS being posted as short sale or foreclosure. Just read on a loca real estate blog today that DFW prices are now within 5% of the "2007 high" prices on record.
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Old 02-28-2013, 11:40 AM
 
11 posts, read 18,910 times
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I've decided to get an appraisal before hiring a realtor. My gut feeling is to wait but better to make an educated decision.
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Old 02-28-2013, 12:09 PM
 
16,087 posts, read 41,152,085 times
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Spring is always the best time and so many things are converging to make this a seller's market - that may not be the case next spring...in the meantime you are making payments if you have a mortgage and then there are taxes, insurance and repairs..add up the cost of those for a year.
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Old 02-28-2013, 12:14 PM
 
11 posts, read 18,910 times
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I am going to rent it out for a year or two. Average rental here is 4k for a 500k house. It should cover my expenses. What do you say?
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Old 02-28-2013, 12:42 PM
 
2,348 posts, read 4,817,186 times
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Originally Posted by TurtleCreek80 View Post
Prices are rising, but it's impossible to time the market's peak. Better to pick a point in time when you've made "enough" (whether it's now or in a few years) and cover.

I don't know how much foreclosure activity there is in the better neighborhoods in DFW. It's been quite a few months since I noticed any decent listings in MLS being posted as short sale or foreclosure. Just read on a loca real estate blog today that DFW prices are now within 5% of the "2007 high" prices on record.

True..I think I am looking at too much national data anyway..The DFW market has always been a positive standout when it comes to real estate.
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Old 02-28-2013, 01:07 PM
 
13,194 posts, read 28,287,721 times
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Quote:
Originally Posted by skids929 View Post
True..I think I am looking at too much national data anyway..The DFW market has always been a positive standout when it comes to real estate.
Not always (1980's....yikes!!!), but recently - yes!!

National data is pretty much worthless - good overall economic barometer, but worthless if you're actually buying or selling.
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Old 02-28-2013, 01:23 PM
 
16,087 posts, read 41,152,085 times
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Originally Posted by Downton View Post
I am going to rent it out for a year or two. Average rental here is 4k for a 500k house. It should cover my expenses. What do you say?
Just be prepared to repaint and perhaps recarpet/refinish floors when the tenant leaves..
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