Price It To Sell

By
Real Estate Agent with Weichert Realtors - The Home Team

I have been working with a pocket full of homeowners wanting to sell their their proeprty.  Several have told me they can't afford to sell in this market.  I do understand that it's hard to part with "market diven" equity; but what the market givith - the market has now reclaimed.

One thing I ask my prospective sellers to consider is this:  Let's say your $180k home is discounted 10% to be cometitive in todays market.  You have agreed to take a $18,000 hit in order to sell.  If the same conditions apply to the $225k home you are soon to buy then you are paying $202,500 (saving $22,500.)  So what you may have to give up on one end and you can make it up on the other...

The same is true with interest rates:  Buy a $150k home today at 5.50% with 20% down and pay $681.35 a month.  Or wait a while and buy the same house for 10% less ($135k) at 6.5% with 20% down and pay $682.63 a month.  When mortgage rates go up you pay a lot more in the long run.

The best advise is to price your home to sell.

 

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Rainer
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Greer Bisignani

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