Contrary to what some may think, homes are still selling in the Boise metro area! In the 4th quarter of 2009, 1742 homes sold in Ada county and 837 homes sold in Canyon county. If you are wanting to sell your home, now may be the time to do it.
Even though selling a home can be challenging during our current real estate market, the truth is that many homes are selling now. The ones that are selling have 1 thing in common - they are priced right for this market. Home sellers' expectations for the price that their home is going to sell for can be quite different from the reality of what this current "buyers market" dictates.
The key element right now is actually to price the home at a level below what the comparable sales indicate. This is especially true if the comparable sales are several months old in a declining market. Not only has the overall market declined in price over the past several months, but it is continuing to decline even now. If the average time to sell a home right now is 120 days, then we have to look at where we feel the market is going to be in 120 days and price the home accordingly. This strategy will get the home sold and, believe it or not, help the seller to get top market price for their home.
One thing to remember is that if you are selling and buying another home in the Boise metro area, you may be taking a perceived hit on your home sale price, but the home you purchase will be taking an equal or larger hit. I like to ask my clients, "Where do you want to wait for the market to come back - in your current home or in your new home?"
It is an extremely good time to sell if you are a move-up buyer.
Please contact me if you would like to get an honest opinion on your home's current market value or you can log on to www.WhatsMyBoiseHomeWorth.com for a look at your home's market value sent to you by e-mail.