Zillow survey results released today indicate that 81% of homeowners are optimistic their home values will either increase or stay the same within the next six months.
The survey, taken in the second quarter of 2009, reflects an optimism from American homeowners about the future values of their homes, with 81% of homeowners believing their own homes’ values will not decline in the next six months.
The survey, taken in the second quarter of 2009, reflects an optimism from American homeowners about the future values of their homes, with 81% of homeowners believing their own homes’ values will not decline in the next six months.
Only 19% of homeowners believe their own home will decrease in value over the next six months. The survey also indicated that many homeowners could be waiting on the sidelines to sell. When asked about future plans to sell, 29% of homeowners said they would be at least “somewhat likely” to put their homes on the market in the next 12 months if they saw signs of a real estate market turnaround.
One caveat: Although all signs are pointing toward a stabilizing market, an increased inventory of homes could slow a recovery. My advice is to hold off putting your house on the market just to "test the waters." It's still a buyer's market...remember the law of supply and demand. But if you need to sell because of relocation, change in family size, etc., consult an experienced real estate agent (I happen to know one!) price your home appropriately and stage it well to attract the most prospective buyers. You'll have a reason to be optimistic about selling!
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