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"Then when WILL my house be worth $X ?"....said the Would Be Seller...

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

   question mark We were on a listing appointment the other day...and the gentleman seller had a nice home in a great location. He no longer wanted to deal with winter in the midwest and spent time in warmer climates. Summers here did not require the size home he had and maintaining it year 'round. His financial picture did not require him to sell the house....and much like many other sellers, he had a number in mind that he felt it was "worth." Sadly, the "worth" number and the number indicated by the CMA as a list price were tens of thousands of dollars apart.House of Money

      "I don't have to sell right now...when WILL my house be worth.....$X."

   My crystal ball is ohhhhh so foggy....appreciation....decline....neighborhood foreclosures or short sales that may influence the appraised price....hmmmmm...crystal ball

   In the "olden days" of just  a few years ago...we will remember using an appreciation percentage of 6% and watching the first time buyers'eyes light up . The question then was sometimes..."When was the last time you saved $6,000 ?" and we could show them how this was possible for every $100,000 they spent....that was then and this is now...

   Not "having" to sell is a wonderful thing....adding the property taxes, insurance, utilities, maintenance inside and out inclusive of landscaping an snow removal and multiplying by X no. of years....the question has changed...from how much you can save....to how much and for how long do you want to spend $X.

 

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Comments (14)

Steve Merson 512 412 1621
Keller Williams Realty - Austin, TX
CNE, e-PRO

Hi Sally and David,

Thank you for that great post and one to which we can all relate I'm sure.

By the way, if your client is looking for a warmer climate, I would thoroughly recommend Austin, Texas!! LOL

Steve

Jun 02, 2010 03:44 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

  We hear you with Austin...as Keller agents we "hear" Austin a lot....some folks are turned on by the change of seasons...and then there is that "you don't have to shovel it" thing....

Jun 02, 2010 03:52 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

Oh so true....so many sellers think if they hold on for awhile they will get more...when in all actuality...in our area at least...I think prices will still dip a bit further....so while they may get more out of their home...how much more will they pay for the new home???

Jun 02, 2010 05:05 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

The hard part to grasp seems to be that you don't get "a deal" on both ends...not the highest price when you sell and the lowest price when you buy....

Jun 02, 2010 05:27 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

I'm so sorry to hear that your crystal ball is not working to full capacity.  LOL!  Wouldn't that give you the advantage in the market if it were!

Jun 02, 2010 05:36 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Good thought Sharon...advertising as a psychic realtor may be the best marketing ever !

Jun 02, 2010 06:11 AM
Dick and Dixie Sells
Sells Real Estate, LLC - Trinity, FL
Realtors, Tampa Bay Florida Homes For Sale

Our crystal ball is on the foggy side as well. It is true here as well, except no snow removal, just year round lawn care, so the dollars even out. Great post and I am reblogging it.

Dick and Dixie

Jun 02, 2010 12:52 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Thank you...much grass...and no snow !

Jun 02, 2010 02:54 PM
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

I thought everyone's crystal balls were saying the price isn't coming back for a while!

Jun 03, 2010 10:24 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

the forecasts are always different when it is YOUR house....the housing market woes belong to everyone else..

Jun 03, 2010 10:38 PM
Noah Levy
Coldwell Banker - Highland Park, IL
Coldwell Banker Highland Park IL

Great post - and so very true- been there- actually just yesterday - going to reblog this!!

Jun 11, 2010 12:35 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Thank you Noah.....

 

  If only the crystal balls were less foggy....!

Jun 11, 2010 12:46 AM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

I can't believe you have a foggy crystal ball. I just bought a gallon of Windex at Costco. Need some?

Jun 14, 2010 06:53 PM
Not a real person
San Diego, CA

Ha! Jim didn't buy a gallon of Windex at Costco! I bought it! You couldn't get him to go shopping if his life depended on it! Nonetheless, you can have some.

Jun 16, 2010 10:18 PM