Thinking of Selling Your Home? You may not want to wait.

The real estate market in the Cedar Rapids and surrounding communities (like Atkins, Belle Plaine, Blairstown, Cedar Rapids, Center Point, Elberon, Fairfax, Hiawatha, Keystone, Luzerne, Marengo, Marion, Newhall, Norway, Palo, Shellsburg, VanHorne, Vinton, Walford, Watkins, Urbana, Walker, and Mt.Vernon) has really been pretty strong through the entire market downturn. As you can see from the charts below that the only thing declining is the inventory we have on the market. This is good if you are selling your home as there is now less competition than in 2010 and 2009. This is in direct contradiction to what many are reporting for the national trend is reporting below. Our market has been strong with some of the strongest years of sales in spite of the national average. Don’t take the national reports of what the nation is doing, contact me for our local real estate market trends – as you can tell, it still IS a good time to sell your home!

Bloomberg Businessweek

“The crux of Simon’s analysis is that the loose lending practices seen during the housing bubble allowed 5 million renters to become homeowners, and that the market is in the protracted process of evicting this group. He believes housing prices will decline 6 percent to 8 percent nationally, with 6 million to 7 million more foreclosures yet to come.”

Yahoo Finance

“The problem with the real estate market remains excess inventory. Based on Shilling’s research, there are 2 million to 2.5 million excess homes in the country — a supply that will take 4-5 years to work-off. The result: Housing prices will fall another 20% and underwater mortgages will balloon from 23% to 40%, he says.”

Housing Wire

Both warmer weather and the drop in distressed sales percentage have contributed to recent home price improvements. However, given the disappointing pace in housing demand recovery, both factors may turn against us in the coming winter and push home prices lower again…

This supply-demand imbalance affirmed JPMorgan analysts’ estimate of a further 4% drop in home prices from the first quarter of 2011 to a new bottom next year.”

DS News

“Home prices have gotten a little bit of a boost in recent months thanks to a seasonal uptick in market activity. Most analysts, however, expect further declines to characterize the later part of the year and possibly extend into next year, largely because of the huge supply of foreclosures on the market.”

Bottom Line

Your home can still be listed and sold successfully in our current real estate market.