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The decision to sell a home or not in this marketplace

by Deborah Barouch

I have recently had conversations with several past clients who are struggling with the decision of whether or not to place their homes on the market this year.

They all know that they wish to sell, but it is a matter of either waiting to sell until next year or selling this year.

On the surface, a reasonable response might be, of course, to wait until next year, because of so may uncertainties. Surely, the market will be better next year. But will the market be better next year? or will it be worse?

Since I have been in real estate since 1985, I  lived through the last downturn in the late 80's and early 90's. In the last downturn, it took a year or so, after the Boston marketplace started to fall, for our marketplace to follow suit.

Essentially, I believe, we mirror to a large degree the Boston marketplace. If folks in Boston[or Mass. in general] can cash out of their homes, and buy a retirement or vacation, or a primary home in Maine, for much less, and pocket the difference; then we will get their business up here in Maine. But if they can't sell [in large numbers] then we will be impacted by a shrinking marketplace.

So will a seller get less for our home next year, if he/she chooses to wait? Perhaps he/she will get less, if the pattern initiated in the last downturn in greater Portland repeats itself.

 

The decision to sell a home or not in this marketplace

by Deborah Barouch

I have recently had conversations with several past clients who are struggling with the decision of whether or not to place their homes on the market this year.

They all know that they wish to sell, but it is a matter of either waiting to sell until next year or selling this year.

On the surface, a reasonable response might be, of course, to wait until next year, because of so may uncertainties. Surely, the market will be better next year. But will the market be better next year? or will it be worse?

Since I have been in real estate since 1985, I  lived through the last downturn in the late 80's and early 90's. In the last downturn, it took a year or so, after the Boston marketplace started to fall, for our marketplace to follow suit.

Essentially, I believe, we mirror to a large degree the Boston marketplace. If folks in Boston[or Mass. in general] can cash out of their homes, and buy a retirement or vacation, or a primary home in Maine, for much less, and pocket the difference; then we will get their business up here in Maine. But if they can't sell [in large numbers] then we will be impacted by a shrinking marketplace.

So will a seller get less for our home next year, if he/she chooses to wait? Perhaps he/she will get less, if the pattern initiated in the last downturn in greater Portland repeats itself.

 

Displaying blog entries 1-2 of 2

Deb Barouch 
DBarouch@kw.com
207-838-4875
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