Every thirty years or so there is a perfect storm of events, and this is the year for real estate. This is 'Perfect Storm' in real estate. Low mortgage rates coupled with affordable home prices means there is no better time to buy, but is it a good time to sell? Yes! Why? Well if your home is priced right there are buyers out there waiting for you as a seller. If you are holding a solid equity position, have time, and price flexibility your home will sell.
The mistake now is not being flexible with your price, but still thinking of your house as a cash machine. This isn't five years ago, and overall home prices have fallen. Think of a sell in this market as getting your house off the market as quickly as possible. What does that mean? Price your house at market, or slightly below market and you will sell. Lots of buyer out there ready to buy, but they better hurry.
Outlook for 2009 to me looks to be any home priced under $200K, will be the hot market. As more first time buyers come to the table don't lose out trying to make additional $10K. Take a hard realistic look at what your home is worth and price it right!
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