Is now a good time to sell your home?

This is a common question and the answer from your favorite Realtor is 'Yes', but please be realistic! Charlotte is lucky in that we did not see the over inflated home prices that many cities in the country saw a few years ago and then watched the bubble burst (i.e. Miami, San Fran, etc.). This means that for the most part our home values have remained fairly constant and in some studies prices have actually gone up. All of the media hype and scare of recession shouldn't necessarily affect whether you sell now or not, but you need to educate yourself on some of the issues, you as a seller, and your potential buyer might face. To generalize, home sales are down, supply is very high and credit is more restrictive. But that doesn't mean you wont be successful selling your home. Read on.....

Three main questions should guide you when it comes to determining if its a good time to sell: How bad do you need to sell? Are you facing financial hardships that require you to sell? How much do you need to get out of your house after it sells? Once you've determined that it is necessary or important to you to sell you need to find a good Realtor that will guide and market your home properly. The 4 factors that affect the successful sale of your home is: 1. Price, 2. Location, 3. Condition and 4. Marketing The only item that is out of your control is location, the other items can be adjusted and controlled (to some extent). In order to determine how much you should list your house for consider find a competent listing agent/Realtor that will provide you a market analysis on your home and local market. How bad you need to sell will determine where you enter the market price wise . If selling your home quickly is crucial then you will want to enter on the low end of your market. If maintaining equity is important and time is not, then consider listing at the high end. Most sellers usually fall somewhere in the middle of needing to sell quickly and maximizing equity, so pricing right can be tricky balancing act. Once you've priced your home then you need to consider making any obvious repairs or updates and stage your home....make yours the best. It is a buyers market and buyers have a lot of homes to choose from. And because supply is high prices tend to drop, so don't be too surprised if your Realtor suggests a lower home value then what you expected. Overall, it can be a good time to sell, but anticipate a lower market value and a higher time on market. But, if your realistic, price correctly, make a few updates and stage your home and use a Realtor then you can expect to have a successful home selling experience. Check out this article for more info on the market http://money.cnn.com/2008/02/07/news/economy/homeowners_views/index.htm?postversion=2008020717