Davidson Realty, Inc.

Is It Time To Sell?

April 19, 2012

 | 
Posted by in News, Northeast Florida Market Trends

article-1252055-085CB854000005DC-65_468x418As of early April, there was about 6 months supply of homes for sale.  That’s 30% less than supply at the same time last year and very close to market stabilization.  For the first time in a long time, we’re seeing a very real lack of inventory in desirable neighborhoods. Sales are up this year as well, and we’re heading into the busiest season for home sales: May through July.  So is it time to put your home on the market?  It depends.

Some of the questions to consider:
• Have you put your plans to upsize, downsize, or relocate on hold during the market slump?
• Will you qualify for the competitive mortgage rates currently available?
• Are you upside down on your mortgage?  If so, to what extent?  The financial considerations can get complicated.  For example, let’s say you’d like to move into a bigger home.  Five years ago, the homes you would be looking at might be listed at $650,000 to $750,000 but now prices have dropped to the $500,000’s.  Of course, the value of your home is most likely less now than 5 years ago too.  But does the savings in the cost of a new, bigger home offset the loss in equity of your current home?
• Are you in a financial position to take advantage of the great prices and low interest rates without selling your current home?  If you have a down payment for a new home and can qualify for a mortgage without selling, renting out your home might be the ideal option.

The market is improving for sellers, but it’s not yet “hot.”  What might be the right time to sell or buy, may not be just “right” for you. Contact us at 904.940.5000 or info@davidsonrealtyinc.com for an objective review of your individual circumstances.

, ,
(0) Comments
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • email
  • LinkedIn
  • StumbleUpon
  • Twitter
  • Yahoo! Bookmarks
  • Yahoo! Buzz

Comments are closed.

Davidson Realty