Looking for real estate advice

hmom5
Mon, 05 Jan 2009 21:39:42 +0000

I would take the agents advice with a grain of salt. Most would just be trying to keep a listing.

Many believe that Obama will make it a priority to really get the credit markets going quickly. That thinking makes sense to me. Freeing up credit to allow folks to purchase is key to kick starting the economy. It’s quite possible this would make many real estate markets start to become more active in a few months.

It’s hard to give advice without knowing the particular market. Here in NY houses can sit on the market for months and then sell for full price. That’s unheard of in CA, where traditionally if a house doesn’t sell in a few weeks it will never sell at the starting price.

So your answer depends on a lot of things. Has the number of people looking fallen off? Are you in a small market with only a few agents who have stopped bring buyers or a large market with a steady stream. What is the average days on market in your area? Is anything selling in your market? Is the market dependent on an industry/industries where things are bound to get worse? And most importantly do you need to sell fast?