Here is an article written by Joni Gordon, a Realtor in Cape Coral, Florida.  It is great advice if you are a home seller that finds yourself in this situation in our present market.

If you own a home in Northwest MS and you absolutely must sell, contact me for information on your options.

Via Joni Gordon (PRUDENTIAL FLORIDA REALTY):

YOU ABSOLUTELY MUST SELL YOUR HOME - NOW WHAT?

It's only natural for you to think that your home is the best in your neighborhood and of course, worth more than the one down the street that's for sale.

You think back on the hours you spent lovingly daubing paint into the stencil for your child's bedroom just to achieve the "look" that fits their personality perfectly.

The days or weeks that you spent pouring over pool and landscape designs to achieve that elegant look for your backyard but also maintaining a design that was functional for your family's lifestyle.

All the personal touches that you incorporated into your home to make it your own personal paradise.

Surely you'll find a buyer who'll walk into your home and "feel the love".   So, you search for a Realtor who is willing to list your home for the price you feel reflects its "true value".

Don't worry about that house down the street listed for $50,000 less than your price.  Sure it's the same size and also has a pool, but it can't hold a candle to yours. 

Weeks go by; the house down the street sells.  Those buyer's saw your house but chose the other.  They must have no taste at all!!  More time goes by; no showings. 

Your friends down the street are also in a position where they must sell. They list their home for $75,000 less than yours.  You know that Bill and Mary have a pool AND a spa and their house has a 4th bedroom.   A  week later Bill and Mary are under contract.  Well, if they want to "give their house away" that's their choice. You "stand pat" on your price.

Your listing expires and the current economy has taken a toll on the real estate market and your home is now worth less than your mortgage.  Six months ago you could have listed your home for "fair market value" and although you wouldn't have gained a lot, you would have sold and been able to move on.     Your "willing" realtor didn't do his job.

Your situation has not changed, you still MUST SELL.  What do you do now?

THIS IS AN ALL TOO FAMILIAR SCENARIO!

 DON'T PUT AN EMOTIONAL PRICE TAG ON YOUR HOME!

If you must sell to avoid foreclosure, heed the advice of a professional Real Estate Agent who lives and works in the area and knows how to get your home SOLD.  If you can "walk away" without leaving money on the closing table, that's terrific.  If you can't, then you must consider a Short Sale.  A short sale is when you list your home for less than the amount you owe on your mortgage.  Of course you must get approval from your lender to do this.  A good Real Estate Agent can walk you through this process. 

Call today and let me help you through this difficult time.

 

 

 

 

 

 

 

 

 

 

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Pam Simpson - GRI, Broker-Assoc.

Senatobia, MS

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Bob Leigh & Assoc., LLC

Office Phone: (662) 449-3530

Cell Phone: (662) 560-8402

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