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RSS Feed�Now�s the Time to Make Your Move� |
Aug. 12, 2007
People ask me everyday, how’s the real estate market? The market is the market, it’s not good, it’s not bad, and it’s just a new market. Although we have over 7000 homes on the market in the greater Lansing area it’s just not the sellers market it was a few years back, it’s now a buyers market. Things change, so we have to adapt.
When you price your home competitively in today’s market it should sell. Keep in mind that if you’re moving up to a larger home and you sell your house 15% below what you thought you should get for it, you’re going to also pick up that much or more when you buy. Keeping it simple let’s say you sell for $170,000.00 vs. $200,000.00 (15% less), if you buy a $300,000.00 home at $255,000.00 (15%) less, you’re gaining $15,000.00. Now that is a good reason to make your move in today’s market.
Now, if you’re selling and not buying, that is a different story. Maybe you should consider waiting out the inventory to sell down, price your house lower, or make some improvement to attract morebuyers. As a Realtor, I can only suggest things to you that we have control over. That would include, price, condition and special incentives to attract buyers. What I think your home is worth and what you think it is worth means nothing in today’s market. It is what a buyer thinks it is worth that makes a sale. That may sound blunt, but it’s the truth.
People sell their homes everyday for different reasons, some maybe upside down on expenses or behind in payments. This type of sale takes special consulting and care, on what we in the industry call short sale. Be careful, when it comes to this that you have the right information to protect your future credit and not get into deeper situations. Seek professional advice.
If you are being transferred to a new job or career, you may want to take special care into negotiating a relocation package that would include incentives to sell below market. Realtors are in a position to give you the facts about your market statistics and council you to a successful closing. If you have questions, please contact myself at mbowler@coldwellbanker.com I would be happy to offer you my advice that I have been giving for nearly 30 years. Happy selling!
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