Local Home Sales 

My market trend prediction is that home prices in Greater Springfield and the bordering Connecticut towns are at or near their lowest point. Prices will bounce around the bottom for the next 6 months.  By the end of 2012 as we see prices leveling off we will see sales volume increasing.  2011 experienced a slight increase in number of homes sold compared to 2010.  Selling prices declined approximately 4%.  Homes in the "above average" price point have declined slightly more (dollar as well as percentage) than those at the average or below average price points. Contact me now for a free Market Analysis to see what your home is worth.

 

Selling a home in today's economy requires stategic pricing. Make it beat the competition from the outset.  Home Prices have fallen 20-30% since the peak in 2005-2006.  Sellers have a hard time accepting that those prices will not return for a very long time.  

 

Homes that are staged, updated, and well maintained will sell faster and command more of a premium.  Many homes that show poorly, will languish on the market for months on end....requiring FIRE SALE pricing in order to garnish an offer.

 

Buyers are able to find great value and amazing interest rates on mortgage financing. 

 

The next housing "bubble" is likely 10+ years away. The time to buy or sell should be based on personal goals and finances. Seller's "wait until the market goes up" strategy has not worked for the last 4 years and probably won't for many years to come.

 

The long-term benefits of homeownership remain very much intact. For now, at least, you can deduct the mortgage interest on your taxes a big perk for people in higher tax brackets. You get to paint your walls any color you wish, without having to clear it with a landlord. And assuming you can buy a home for about the same price as you can rent one, buying will give you the ability one day to live rent-free. Come retirement time, a paid-off mortgage means your monthly expenses are significantly reduced, and you have a chunk of equity to play with.

 

For a preliminary consultation and to get your home ready, staged, marketed and sold,  Call:  Lori Cotter 413 348-9259