Truth or Consequences

April 24th, 2008

TRUTH OR CONSEQUENCES!

It’s more difficult than ever to realistically and successfully price your home for sale. Many economic factors affect your pricing decision. Agents present you with the facts, but the final determination of asking price is yours and yours alone. So contact a representative and familiarize yourself with the following criteria.

There are more homes for sale now than in the past. Larger inventories exist mainly because sellers waited to list, trying to catch the top of the market. Now they’re trying to sell before it bottoms out.

While still historically low, mortgage rates will creep up in time. Every rate increase disqualifies a segment of buyers for financing, negatively impacting your selling ability.

Besides higher interest rates, buyers are subject to stricter loan application requirements. Again, the higher down payments and credit scores needed for financing eliminate many applicants from your pool of prospective buyers.

Are there homes in your neighborhood that investors couldn’t “flip”? Then they are either vacant or listed below market value by owners who would rather take the loss than become landlords. Either way, these homes and foreclosed properties adversely affect property values of others in your community.

This is reality. Expect your REALTOR to be frank with you about it, and learn that trust, reason and determination will create a sale, even in a down market.

Call me if you need assistance with your real estate decisions. If you prefer,
Email me at donkingsley@kingsleyrealestate.com. I will be happy to share my knowledge with you at no cost or obligation.

Entry Filed under: Real Estate Tips, Selling Your Home