As 2013 emerges with signs of a bottoming out of the real estate slump, homeowners who have been sitting on the sidelines may finally be ready to take the plunge and put their homes on the market.
But for those hoping to sell in the spring, the most popular season for home sales, now is the time to make a few New Year’s resolutions to pave the way for the best deal.
Many North Jersey real estate agents say 2013 is as good a time as ever to sell, as the housing market is slowly creeping back — though still far below the peak.
While home values nationwide have begun rebounding, prices in the New York metropolitan area, which includes North Jersey, ticked down 1.2 percent in October compared with levels a year earlier, according to the Standard & Poor’s/Case-Shiller home price index. Home prices in the region are back to the levels of February 2004 and have dropped 23 percent from their peaks in mid-2006.
Spring is a popular time to list a home for a number of reasons. In the past, corporate executives got their bonus checks in January and began to house hunt, while others received tax refunds. And a spring purchase gives buyers time for the kids to settle down over the summer before heading to a new school in September, said Cindy Marsh-Tichy, president-elect of the New Jersey Association of Realtors.
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