One Lump or Two?

Reblogger
Home Stager with Great Impressions Home Staging/Interiors

Excellent advice in this post, have to re-blog it!  -- I've met too many sellers in the last year who don't understand that their homes just aren't worth what they used to be! Pricing AND presentation are BOTH crucial in this market where house prices keep going down, sadly. 

Original content by Virginia Kail

One Lump or Two?

A phone call this morning with a frustrated seller inspired this blog entry.  She called because she's frustrated with very little activity on her home. The truth is that she isn't ready to take her lumps yet.

one lump 

Her call got me thinking back to a seller I had in late 2009. He had bought his house at the height of the market, and was underwater on it.  After going through his market analysis and explaining to him what the house would bring in the current market, he summed his situation up neatly.  He said, "So basically I have to decide if I want to take one lump now or two lumps later." 

He bit the bullet, brought some money to the closing table, and got on with his life

Now here we are in 2011, with two more years of NEGATIVE market growth and the announcement that the housing market has officially entered a double dip.  Do you think he's glad he took his one lump and moved on?

The truth is this:  If you purchased a home in 2006, 2007, or early 2008 and you absolutely must sell, then you're going to have to decide if you'd like one lump or two. It is sheer folly to think you will recoup what you paid for the house.  If you price your home in the hopes of doing so, then you will sit on the market with little activity.  You'll continue to make a mortgage payment that's going straight to interest, and be much worse off when you finally decide to take two lumps down the road.

        

Virginia Kail

Realtor®

Cookeville TN native. A full time, full service agent for the entire Upper Cumberland region of Tennessee.

931-260-4729 cell

www.VirginiaKail.com

American Way Real Estate Co.

931-526-9581 Office phone, 931-528-6569 Office Fax

 

Cookeville real estate

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Posted by

Home Staging Bergen County -- Amy Bly

Great Impressions Home Staging 201-390-4649  

 "Great Impressions Get Offers"

Presentation and price are critical to selling houses quickly. You and your agent figure out the best price; I make your home stand out from the competition to appeal to the most buyers, whether they are first-time buyers, move-up buyers, or down-sizing buyers. As an accredited, experienced staging professional, I know how to make your home grab buyers' attention -- on the MLS and in person. A beautifully presented house makes a great impression, stands out from the competition, and generates offers faster than a non-staged house!

For a free home staging estimate, call me at 201-390-4649. 

Home staging website: www.greatimpressionshomestaging.com

Email: amybly@gmail.com

 

Comments (1)

Henry Pailles
Chula Vista Realtor,Short sale,Eastlake Real estate,Realtor - Chula Vista, CA
San Diego Real Estate, San Diego Realtor, Chula Vista Real Estate

I don't think we can consider a double dip, one dip was enough, the rest we'll see for the decade will be small waves...up and down....calmly, waiting for the slow recovery of our economy. We'll be ok

May 15, 2011 03:47 PM