The KCM Crew recently posted their five great reasons for selling your house now. I have been discussing this very issue with four clients that want to sell their current homes for one reason or another. The primary stumbling block for them appears to be the potential listing and selling price ---- which of course, is less than what they were expecting and in one unrealistic instance, a great deal less. I’m not talking about clients that are upside-down on their mortgages, just clients that want make as much profit as they want.
I explained the various reasons why selling now is still a great move. For example, one client wants to relocate to a metropolitan area where home prices are in a serious slump. Consequently, they will be able to purchase for a lot less than what was anticipated; allowing them to offset some of the perceived loosed equity on the sale of their house here in the Fort Bragg area.
I agree with all of the KCM Crew’s five stated reasons for selling today but the fifth reason is the best one of all: “You Get to Move On with Your Life”!!!!!!! A family friend who’s house has been on the market for close to a year and has turned down three offers because she felt she was losing approximately $5k too much on those offers asked me what is the problem. I replied that she is the problem – the market is telling her what her house is worth. Being as respectful as possible, I also asked her, at your age (76), what is more important --- $5K or relocating to Wilmington, NC to be with your only grandchild?
DO what you have to do to GET ON WITH YOUR LIFE!
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5 Great Reasons to Sell Your House Today by THE KCM CREW on SEPTEMBER 6, 2011
We are often asked “Is the time to sell my home?” The answer to that question is based on what your families’ goals are. If you don’t need or want to move for a few years it might make sense to wait for the housing industry to recover and prices to appreciate. However, if you wish to move within the next six to eighteen months, it is probably better to sell sooner rather than later. Here are five reasons why:
Your House Will Get More Exposure Now Than the Winter
Housing sales usually level off in the summer and then regain momentum in September and October. The spring buyers’ market has passed. Don’t miss the early fall market. It has consistently outperformed the winter season.
Distressed Properties Will Impact Prices
Distressed properties (foreclosures and short sales) on the market will increase this fall and winter. This will put tremendous downward pressure on prices for at least the next 12-18 months. Get your home sold before they become your competition.
Mortgages Will Become More Difficult to Attain
Lending standards are continuing to tighten. There is legislation currently being considered that will make it even harder for buyers to qualify. Less demand will equate to lower prices.
It is the Perfect Time to Move-Up
With prices where they are and interest rates at all time lows, there may have never been a better time to move-up into your dream home. If you move into a more desirable home now, you will be in position to gain larger equity as prices eventually appreciate.
You Get to Move On with Your Life
Probably the most important reason to sell is so you can get on with your life. You are considering selling for a reason. Do not allow a less-than-stellar housing market prevent you from reaching your goals as an individual or as a family. Think about the reasons you are thinking about moving. Are these reasons really important to you? If you have to take less than you were originally hoping to get for your house, your family has a question to ask each other: Is the dollar difference in sales price worth putting off our plans? Only you and your family know the answer to that question.