Getting Serious About Your House and the Market
Add a comment Wednesday, December 2, 2009
In this market, where homeowners have to compete with the “fire sale” prices of bank owned homes, it more important than ever for homeowners to be realistic about their home’s values. It often is difficult for homeowners to objectively value their homes, which often reflects their sense of personal style. However, by consulting with a REALTOR®, using online resources, investigating neighborhood trends, and soliciting the opinion of friends, homeowners can arrive at a reasonably accurate appraisal. If they cannot accept the reality of the situation, I recommend that they wait for a more favorable selling climate. On the positive side, they will often more than make up the loss from the savings on their new purchase. It is important to have their agent help them “crunch the numbers” before making the final decision.
If they are having financial difficulties, it is critically important for them to consult with their real estate consultant to get accurate information on all their options and the possible consequences.
