The frequency of negative press has scared the dickens out of home owners, both young and old.
Just this past week, I heard a newscaster pronounce the housing slump won't break in 2008.
Boy, I hope he is working the state lottery also if he has such a pulse on the future....he will be a millionaire.
That being said, you will find it hard to pin anyone on what tomorrow will bring. In fact, you will find many in the real estate community that won't agree to the "housing slump" is as severe in their community as is blasted across the Internet, news casts and the like. Yet, to predict when housing values will increase better than today or when every home in a given market will sell in less than 60 days is near to impossible.
Yet, if you are hoping to sell a home yet in 2007 or in early 2008, don't despair. There are at least 10 good reasons to sell a home in the Fall/Winter:
1. Buyers are out---really motivated to buy
2. January is a huge Relocation month for Corporate America and for the Military
3. Interest Rates are historically very low
4. Homes show well during the holidays....just keep that "Holiday glow" going during the
5. Buyers are on vacation during holidays, Spring Break, etc
6. Don't forget the Tax benefits
7. Lots of Visitors and Relatives visit during Holidays and in January
8. Buyers have one of the lowest inventory of homes
9. Can be the Spring Rush of homes in April/May.
10. More Advertising Exposure in Print and Internet venues.
See how true this is in your market by contact a Realtor in your area. In the local Hampton Roads Southside market, there are under 10,000 homes for sale in comparison to over 15000 homes in September 2007. Thus, buyers in some price ranges just might not find a lot of choices.
What are you finding your market??