According to a Fannie Mae study, 83% believe now is a bad time to sell a home.
Well, compared to Arizona home prices in 2005, 2006, 2007 and 2008 it’s a bad time to sell a home. But if you don’t have a time machine and your choice is selling your Arizona home now in 2010 or selling your Arizona home later in 2011, I think now is a good time to sell your Arizona home.
What if interest rates increase next year? That could drive down Arizona home prices even more.
All the news about Arizona home prices has been terrible for 5 years. Are you going to go against that mega trend and bet that Arizona home prices will somehow increase next year?
How many Arizona home sellers in 2006, 2007 and 2008 outsmarted themselves, thought it was a bad time to sell an Arizona home and tragically decided to wait?
On The Other Hand
The survey also found that 70% of Americans believe it’s a good time to buy a home.
Phoenix Real Estate Market
Looking for Something?
"I think the median Phoenix home price could quickly pop up to $144,000+ again. If not in the second half of this year, then certainly in the first half of 2012."Metro Phoenix median home price rose from $116,050 in August 2011 when the post was written to $153,500 in May 2012.
- John Wake, Arizona Real Estate Notebook, August 11, 2011
See full post - Phoenix foreclosures as percentage of homes sold continues to decline.