Ken's Naperville Real Estate Blog : If not now, when?

If not now, when?

I read with interest today's featured post, "NOW Isn't a Good Time to Sell Your Home!" written by Bill and Liz Spear in from Mason, Ohio.

The post, written originally on Active Rain, was about dealing honestly with your clients.  Honest about the market.  Honest about pricing...

I am all for honesty, but...

Now isn't a good time to sell your home?  Seriously?

Why?  Because the market is down?

I don't get it.  I really don't.

I read the comments, too.  Almost unanimously, all the agents that commented agreed with the writer's position, that, in fact, now was not a good time to sell...

If not now, when?

Next year?  Two years from now?  Five?  Ten?

When?

What if the real estate market gets worse?

How long should someone put their lives on hold?  Delaying a decision, hoping for a market recovery.

STOP WAITING!  Life is too short.  Properly priced homes sell, and they sell quickly...

If you want to sell, sell.  If you need to sell, sell.  If you are happy where you are at?  That's great.  Stay where you are.

But when you are ready?  Give me a call.

I am ready whenever you are...

Ken

Comment balloon 10 commentsKen Tracy • May 16 2011 09:41PM

Comments

Ken:  There are plenty of people who think now IS the time to sell.  Otherwise, we wouldn't have any inventory other than short sales and REO's.  There is no universally correct answer as to whether it is or is not the right time to sell.  It was a catchy title for a post, though...wasn't it?

Posted by Kirsten Lindquist, Realtor - Sonoma Wine Country (Pacific Union International) over 6 years ago

Hi Kirsten.  Thanks for stopping by.

But there are a whole lot of people waiting...

Makes me wonder.

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) over 6 years ago

What are they waiting for????  I don't get it.  People have to sell for many reasons.  Death, divorce, family growth, empty nesters, transfers.  Are they all supposed to wait?

Life goes on folks.  You can't stop living just because of a bad economy.  Do you know how the economy can get better?  People sell their homes. 

Then: they buy appliances, furniture, window coverings, windows, furnaces, lawnmowers, barbecues, landscaping materials, etc., etc. 

They hire realtors, lawyers, home inspectors, stagers, movers, etc.  Those people get paid then they go on vacations, buy new cars, make home improvements, etc.

Hmm, do I smell an improvement in the economy?

Posted by Jenny Kotulak, Broker - Oakville Ontario Real Estate (RE/MAX Real Estate Centre Inc., Brokerage) over 6 years ago

Ken: I'm a pretty big fan of BillandLiz and read most of their posts. I think that Bill was trying to communicate that they will listen to a seller and not encourage people to list for an unrealistic number just to get the listing.

But I also agree entirely with you. In some ways, the real estate market just isn't real. It becomes a sort of game of Monopoly money. Values get equalized at all price points. whether someone is buying up or selling off. Life goes on.

 

 

Posted by Leslie Ebersole, I help brokers build businesses they love. (Swanepoel T3 Group) over 6 years ago

Ken i totally agree with you. My family are sellers of 3 properties in Greece and we do sell, we don't wait even though we have the ability to wait especially in the position that Greece is at the moment. But even though we sell at very low prices, no real estate agent both locally or internationally seem to be able to attract buyers for us.

Posted by dennis koutoudis (The Pelion Estates) over 6 years ago

Ken:   Individual circumstances and personal finances combined together dictate WHEN it is a good time to sell.  Right now there are some outside influences that could improve or delay that decision being made, depending on the seller considering a move.  Real estate has become so personal to an individual's particular financial standing and circumstances.  It's never been more personal than now.  And it's exactly why I preach that anyone, whether buyer or seller, needs to seek the advice and guidance of reputable and knowledgeable real estate professionals to work tandem with.  With a true professional's guidance, it becomes clear whether it's time and wise to sell or buy.  You are absolutely right about moving ahead with a sale, should those personal circumstances dictate doing so. At minimum, there are enough positives in place (interest rates, lower buying opportunities) to motivate people to inquire.  It's free to do so.  Why not at least contact a lender and do that??  

Gene

Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) over 6 years ago

Ken,

Thank you for the informative post.  As a mortgage provider, I know exactly what you mean.  Thanks again!

Brian Hayes

<A href="http://www.chicagohomeloansguru.com">Chicago-Home-Loan</A>

 


Posted by Brian Hayes over 6 years ago

Hi Brian, Gene, Leslie, Jenny and Dennis.  Thanks for stopping by...

I am worried that agents across the country are telling sellers to wait.  Can you say shadow inventory?

I had never read a post by BillandLiz, but I was a little surprised by the title of their post...

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) over 6 years ago

Ken,  I agree with you...  How do we know when the market is going to improve?  3 5 10 years...  What about the costs that you incur on a yearly basis...  do people really think that the market will improve enough to take into consideration the real estate taxes and other costs relating to holding the property...  I don't think so! 

Posted by Judy Greenberg, Coldwell Banker - Buffalo Grove - Long Grove Homes (Coldwell Banker Long Grove) over 6 years ago

Hi Judy.  Thanks!

Who knows.  The market is the market...

Thanks again,

Ken

Posted by Ken Tracy, Helping clients buy and sell since 2005 (Keller Williams Realty Infinity) over 6 years ago

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