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Old 06-04-2018, 06:29 PM
 
307 posts, read 532,919 times
Reputation: 520

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Quote:
Originally Posted by rztquery View Post
After doing research and talking to several people, it looks like this summer is best time to sell home if you want to get good money.

Home prices are doubled within last 5 years in several places in DFW and became overrated. This was due to sudden demand and low inventory. Now there are thousands of apartments and several new communities everywhere. Inventory problem is not there. Mortgage rates are increased. Buying houses also slowed down.

Already several articles mentioned that , since last year prices are not increased at all.

What is your thoughts on this? Is it right time to sell home or keep it for few more years to sell it later for higher rate ?
This is how close it can be. On one house I bought I added a fence at the end for another $2000 dollars. The market turned just before the appraisal and it came in my favor. The builder was upset about the appraisal coming in low but the appraiser told him they had recently got pressure to reduce the appraisals as prices were downturning. So for me, I got a free fence as the appraisal was low enough to eat the price of the fence.
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Old 06-04-2018, 11:18 PM
 
1,454 posts, read 1,500,303 times
Reputation: 1843
The best time to sell is probably when you need to sell it.
You will never know if the next month, months, or years will bring better prices.
Lots of things can affect this and no one has control over it.
Things can change quickly.
What if Italy defaults?
What if there is a war in the middle East?
What if North Korea nukes Japan?
What if interest rates go up 1% or 2% or 10%?
What happens if DB goes bankrupt?
What if congress illuminates FHA, Freddie, Fannie? or privatizes them?

To me if you really need to sell now, but you need to pay taxes, insurance, mortgage, and mental effort on a house you no longer want, waiting doesn't help you.

While there are peaks and valleys in the number of sales here....there are buyers all year round. It's not like the past where everyone seemed to sell April-June, August, and then realtors all went on vacation for the last quarter of the year.
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