My reasons for yesterdays BOLD prediction about that its a great time to Sell.
Here they be kiddies:
First; my buddy “Ben” says the recession is pretty much over.
Second; The NY Times has a story about the 8k tax credit about to expire.
Third; so is cheap money (interest rates).
Fourth; cause I say so…….remember I do this all day and the street is TIGHT.
Most of the properties still on the market are crap and most Buyers know this.
There is a pent up demand for buying due to reasons 1/2/3 listed above and a serious lack of homes (Buyers market….HA)
When a nice property hits the market it gets lots of looks and several competing bids (Buyers market….HA) and the Seller is getting a premium.
Now everyone who has an ounce of common sense knows that a homes appreciation is almost nil in normal markets, for all the rest of you who are in the “I am going to ride it out” mode, listen and listen closely;
RIDE OUT WHAT?
If you SERIOUSLY think that you are going to see appreciation of 30/40/50% a year on your home, better look back at history (you know history, like things that happened yesterday, not the Michael Jackson album).
So get over it; if you want to move/expand put it on the market.
Your best chance of getting a premium is now; basic economic principals are in play;
1) Tight market
2) Excess Buyers
3) Cheap Money
Once 3/4 move or go bye bye then we will again see a slow down (it’s going to be funny when folks think 7.5% interest rates are freaking high).
And yes for the cynics who don’t agree……..what’s going to happen when all the interest notes come due.
Put it on the market kids, you have been warned again………