Should You Sell NOW?

I was at a listing appointment today and the prospective seller was wondering if he should sell now or wait until the market picks up some more. That is a great question and the answer is not the same for everyone. Prices in the Bothell area have gone up nearly 10% in the past year so if he waits a year he MIGHT pick up $35,000 or so in more value (if the economy does not completely tank in the mean time), but it will also cost him 10% more to buy his next home. In his case he is downsizing so the 10% gain in his new home would be less dollar wise than he would gain by waiting to sell his existing house. However, other clients are upgrading to larger homes, so for them their new purchase would be gaining dollar value way faster than their existing smaller home. The other consideration is the NEED to move. One client I have was recently married creating a blended family with 7 kids so they are busting out at the seams with two sets of furniture and way too many kids in a small house with very small bedrooms. Another just got a job out of state and needs to move right away. Another is retiring and just needs to downsize when the time feels right or he finds a smaller house he likes. Each of them have different time frames and monetary considerations that need to be taken into account. That is where a good real estate agent comes in. As their consultant he can give them as much data as they need to help them make the right decission for their situation. Residential inventory in the Bothell area is as low as i have ever seen it in the 10 years i have been an agent and interest rates are bouncing around the lowest they have ever been so the demand from buyers is about as strong as it is going to get right now. Houses that are priced right in good condition sell in a day or two with mulltiple offers common. So if you need to sell it is a great time to do it. Call me today so we can talk about the current value of your house, the options you have, and how the process works. d