News Details (Posted: September 8, 2010):

Selling in 2010?

Full Description:

Are you thinking about selling in 2010?

The market for conventional sellers is not easy these days. The majority of the buyers in the marketplace are looking for a good deal. The condition of the home and who is selling it don’t matter nearly as much as the price. Here are some questions to ask yourself if you are considering selling in the current market.

Do you have a significant amount of equity in your property? If you do, you should be able to sell at a very competitive price. Market conditions have changed drastically as everyone knows and it is unlikely to return to the pre-recession prices anytime soon. You probably will not receive a huge return on your investment but you should still be able to realize a reasonable profit margin if you equity position is strong.

Are you in a position where you must sell? If you must sell than you must be prepared that you are probably going to have to sell low in order to entice a buyer to your home. Buyers are focused on price and if your home is not priced competitively it will not sell. If you are in a low equity or no equity position you may want to contact your Mortgage Company to see if they will consider a Short Sale. If you can prove a hardship situation that shows that you Must Sell and you are not in a strong equity position, you may be able to get a pre-approval to try and Short Sale the property. Please give me a call to help you analyze your home in comparison to others in the neighborhood to see what your true position is.

If you don’t have to sell but need more space or some upgrades, would it be more practical to use the equity in your existing home to put on an addition or remodel? The inventory of homes far exceeds the number of buyers. If you do not have to move and you like your neighborhood, perhaps investing in your existing home rather than moving or trying to sell in a down market would be a more practical solution.

Would selling in the current market net you enough to move to a larger home? If you can sell at a reasonable profit and net enough from the sale it can be a good time to move up. Remember, if you are selling for less than you would like, that seller with the house you have your eye on is probably selling low too. It could be a great time to move up if that is your goal. The tax credits expire soon so they may not help you unless you can sell quickly and get your new home under contract before the end of April, but it might be worth a try.

Are you in a position to acquire a new loan if you do sell quickly? Lending is tight. Before you decide to sell you want to make sure that you can buy another house if your existing one sells. Even strong buyers are having difficulty obtaining financing and you will want to know what you can afford to buy before you find yourself having to settle for less than you already have.

There are many things to consider in today’s market when you are thinking of selling. While it appears things are stabilizing to a certain extent, price is still the driving force in the marketplace. Foreclosures and Short Sales are what the Buyers are focused on and that makes it a real challenge for conventional sellers who wish to move on or up in the market today. You need to be prepared that unless your home is a killer deal it is going to take time to sell. You also need to consider whether it is need or want that is driving you to consider selling. If you need to sell then you need to be prepared to do what it takes to get it done. If you just want to sell, you need to be prepared that unless you are very competitive on pricing it may be a long time before that happen.

Price – Price – Price – is the word to remember today. If you can’t meet the price, it isn’t going to sell.

The majority of owners of foreclosed homes made no visible attemps to save their home! Don't be one of these homeowners. You have way to much at stake.

* Are you have difficulty making your monthly payments?

* Have you experienced a reduction in income?

* Are medical bills creating a financial hardship?

* Has there been a change in your maritial status?

These are some of the conditions that determine a distress situation. Distressed homonwers who desire to stay in their home or which to sell their home have many options of which you may be unaware.

If you find yourself struggling to meet your montly obligations, you may be in a distress situation. Give me a call to schedule a confidential meeting to review the 8 common options available as well as plans for your future and economic recovery. I can not promise to salvage every situation but I can assure you no stone will be left unturned to find the solution most benefical to you. Please give me a call for a confidential appoitment.

Sponsored by:
Annette Lawrence
ReMax Realtec Group
727.420.4041
all_Dunedin@yahoo.com

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