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New York Housing Trends: Do Higher Sale Numbers Mean you can Sell your House for More Money Now?

Buying a house in today's economy is not too difficult to do if you have the funds to do it.  With the first time homebuyers, New York state grants and low mortgage rates it is easy for someone who can afford to own a house to purchase one and still have an advantage over the sellers. 

With the housing market showing signs of rebound in the northeast some sellers especially in the New York area are asking themselves the question "Can I sell my house for a higher price now that the real estate market is doing better than before?".  The answer to this questions is both yes and no.  As long as the housing market continues to rebound and continues to recover housing prices will eventually be able to rise and sellers will be able to sell their houses for a higher price than what they currently can.  Until the housing market makes a full recovery sellers are going to have to realize that it is a buyers market right now.  While people may not be encountering the issue as often anymore of not being able to sell their home at all, even if it is reasonably priced, because the past few months have shown that there are buyers looking for homes but with the economy not fully recovered buyers are still looking for reasonably priced homes. 

New York residents interested in selling their homes must realize that in order to so right now they will probably need to continue to follow the current trend which is sell your house at a lower amount than you may want to.  In order to "stay in the competition" you will need to list your house at a reasonable price that buyers will want to pay. 

According to the National Association of Realtors home resales in the northeast in the past month have showed a 11% increase from resales in the northeast a year ago but the reports also show that the median price for homes fell 7% since last year.  People are looking for affordable homes that will have manageable payments.  While people are looking for a lower priced home than what they once looked for because everyone else is selling for low also a lot of people are looking for homes that do not need to be fixed up.  Here are some tips on how you can raise the value of your home before you put your New York home on the market.

For more information read Staten Island real estate attorney Steven Decker's article "Additional Factors to Consider when Selling your Home in a Buyers Market".