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Happy New Year, Survival-ites! I heard again this week from Gary London, local real estate analyst. He wanted to add to his response to the conversation we started this week with reader DF who wondered if selling his house in this market would make him stupid. You sent some thoughts my way, too.

Here’s London, with an added perspective:

One further thought on selling a home in today’s market: seller beware. While it is true that it can be appropriate to sell a home that you have owned for some time, and in which you project a lot of equity, it is equally true that people who are purchasing homes are mostly in ‘bargain’ mode. In many cases it is unlikely that you will receive offers for your home that will match your own perception of its value. Buyers are currently conditioned to take advantage of a distressed market, regardless of whether YOU are actually in distress. Consider this psychology carefully before you put up your home for sale. In due course, the market will change such that there will be a shortage of homes. This is inevitable because new homes are not being built, and the current inventory of resales and unsold new homes will certainly dry up. Listing your home at the beginning of an ‘up cycle’ may be a more prudent course.

What do you think, DF, or anyone else? Shoot me an e-mail at kelly.bennett@voiceofsandiego.org.

KELLY BENNETT

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