Winter 2011 Report
Is It Time To Sell Philadelphia Real Estate?
A Message from Lawrence F. Flick, IV, Chairman and Chief Executive Officer
Prudential Fox & Roach, REALTORS® and The Trident Group
We all know it’s a buyer’s market: a great selection of houses, lower yet stable prices, more realistic sellers, and generationally low interest rates. But what about the sellers – can they achieve their goals, or is success just not possible in today’s market?
It’s been a long four years since the end of the real estate boom. For many of us, life changed dramatically in that time. Whether because of marriage, divorce, having children, seeing children leave the nest, or taking in a parent, we are reevaluating our current living situation. For first time buyers who feel secure about their employment and financial situation, today’s decision point is clear. It’s easy to see the benefits of the
current market. But for some who must sell a home in order to buy another, the advantages of making a move may not be so obvious. Many sellers continue to hold off, waiting until the market “improves,” making do and postponing plans even though their current situation is uncomfortable.
It doesn’t have to be this way. In an ideal world, everyone would sell in a seller’s market and buy in a buyer’s market. But in reality, those two conditions don’t co-exist. So how can a seller find opportunity in a buyer’s market? Consider this: selling and then buying a home in a buyer’s market generally nets positive results. How is that possible? The answer is that even if we lose some value when selling our house now, we save when we buy a new home at a price lower than if we had bought at the peak of the market. This is especially true when we trade up to a more expensive property. And when we consider today’s exceptionally low mortgage interest rates, the potential savings soar because we save significant dollars every month throughout the life of the loan.
ARE YOU REALLY READY TO SELL?
If you are ready to sell your home now, success all comes down to how well your property competes
with others on the market. Before listing yours, analyze the market with your Prudential Fox & Roach
Click here to download the Full PDF version of the 2011 Winter Chairman’s Report.
Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106