Why Are You Selling in THIS Market?
Are you a homeowner who is still unwilling to come to grips with the reality of our Central Florida Real Estate market? According to a new survey by Zillow, finds 60 percent believe their homes lost value in the last year, up from 57 percent in February
Now, the reality check: Eighty percent of homes actually were worth less in the last 12 months, up from 76 percent in February.
As an active agent I speak to a lot of sellers day in and day out – I would venture to say that every three out of four home sellers believe that their own homes’ prices will increase or be flat over the next six months.
Zillow makes a very interesting point in their survey results … 31% of all 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.
What this does is creates a steady stream of new inventory adding to already record-high inventory levels, thus keeping downward pressure on home prices. Counter acting the intended result.
At the end of the day – there are 2 types of sellers … HAVE TO (sellers) and WANT TO (sellers). If you are a “want to” its in EVERYONE’s best interest to just “stay off” the market, because this is going to be a long - long road – before we see values increase.