Knowing When It’s Time to Sell

While some areas of the country are still experiencing depressed home sales, others are beginning to see a recovery.  It’s tricky business to understand how properties in your specific area are doing, as you can’t extrapolate from other areas or states.  As Chicago broker Scott Berg said, “Real estate is always local, but these days it’s hyperlocal.”

If you feel that it’s time to sell, or to buy, speak with a residential mortgage company like Intercontinental Capital Group with Dustin DiMisa.

Here are a few tips from http://money.cnn.com to help homeowners to know when it’s a good time to sell.

1. Ask a realtor to tell you how many listings are on the market currently in your area and how many homes sold in the past year.
2. Find out if, in your area, the loan payment for home purchases is below what a potential home-owner would pay to rent a similar home.
3. Go to realtytrac.com to see if the level of distressed sales in your area is rising or falling.
4. Look at your location.  Homes in prime locations with shorter commutes, great schools and convenient amenities will start to sell first.