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The biggest mistake home sellers can make in 2010

By
Real Estate Agent with Keller Williams Realty

This time of year, many sellers take the attitude of "I'll wait till spring to put my house on the market, when there are more buyers." That couldn't be a bigger mistake in 2010. Roughly half of buyers in 2009 were first time home buyers, spurred on by the initial first time home buyer tax credit.  Many of them purchased BEFORE they might otherwise have.  In essence, those buyers were borrowed from the future. Now, with the tax credit available for first timers AND buyers that have previously owned a home, we are again, borrowing buyers from the future. On April 30th, it's going to catch  up with us.  Once those buyers have bought, they will be OUT of the market and that is not good news for sellers. 

Bottom line: anyone with a home valued under $800k who needs to sell should be on the market TODAY, before buyers motivated by the tax credit are out of the market. Waiting till spring is not a good option this year.  As their agents, we owe it to them to be communicating this information so that they can sell their home at the best possible price.

tax credit

 

Posted by

 

Beth Torrence, Broker, ABR, GRI
Keller Williams Realty
MAPS Coach
9175 Carothers Parkway
Franklin, TN 37067
615-403-6736 Phone
615-690-8994 Fax

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Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Beth THis is great. I think you have this blogging thing down pat. Add a link to search for homes. By the way, everyone loved your class yesterday.

Jan 13, 2010 03:25 AM
Gary Swanson
Century 21 Harris & Taylor - Grants Pass, OR

Beth, great advice.  I'm talking to a prospective client this afternoon about why they should put their home on the market today, rather than waiting until March like they were planning to do.

Jan 13, 2010 03:34 AM
Anonymous
Shannon Jones

Great insight, as usual Beth.  This is worth sharing with our sellers.

Jan 13, 2010 03:38 AM
#3
Beth Torrence
Keller Williams Realty - Franklin, TN

Thanks Larry!  I had a good teacher.

Shannon, I'm glad I could share, as usual.

Jan 13, 2010 05:08 AM
Monica Neubauer
Benchmark Realty - Franklin, TN
Franklin, TN - Realtor, Trainer

You are right Beth!  Thanks for the reminder.  Spring might come early this year.

Jan 13, 2010 08:14 AM
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