Sell Now or Wait?
October sales of homes in most peninsula communities are running approximately 50% of normal, compared with last month and October 2007. So, the question is, should one sell now or wait for the possibility of a better market next year?
There are too many factors that could make the market worse for sellers next year. We recommend selling now. These factors include the possibility of more competitive listings, a deepening recession, higher interest rates, local employee layoffs, and falling real estate prices. It could easily take 5 to 7 years for values to return to current levels.
If you anticipate selling in the near future, do not wait. Sell now.