Waiting to Sell Your Home for a Higher Price?

Reblogger Barbara Martino-Sliva
Real Estate Agent with Dale Sorensen Real Estate Inc.

I had to share this great post from my colleague in Stuart Florida.  He makes some great points on the prices of homes in the current market. 

Original content by Gabe Sanders 3090099

Low home prices won't last forever, but it could be some years before you could get the price you would like for the home you are selling.

Right now, buying and selling are a trade off. That is, you sell for a lower price, but you also buy for a lower price. With the home you buy at this time, you'll get a lot more for your money than what that home would cost in years to come.

Under the present conditions, you and other prospective buyers would do well to ask yourself what the personal cost of not moving forward would be. Waiting for Prices to Rise?

The home you would buy is the place you need today. It would have more rooms and be more efficient for everyday housekeeping and activities. The enjoyment and excitement factors involved in getting the new place could be significant.

One of the big questions involved in buying is whether you have enough equity in your present home so the mortgage can be paid off.

If that's not a problem for you, this is an excellent time to begin your search for the right home.

How long would it take to sell your present home? If it's in a neighborhood people like and it's in good condition, it might not take very long. Friends of mine were shocked when their home sold in two weeks.

It's true that if you wait several years before selling your place, you will probably get a few thousand dollars more for it. But why wait until your children are grown up or away at college before going into a home where each could have their own room, or a guest room for visiting grandparents or maybe a recreation room they would all enjoy?

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Comments 4 New Comment

Rainmaker
189,683
Cathy Glass
Realtor - Knoxville, Tennessee
Realty Executives Associates

Yes, it's all about the move or relocation. Sellers get too hung up on the price of their house, even when they stand to gain so much more by making the move, even financially. I guess it's just the principle of getting less, even when it means getting more after it's all said and done.

October 31, 2010 08:40 AM
Rainmaker
1,687,715
Gabe Sanders
Stuart Florida Real Estate
Martin County Residential Homes, Condos and Land Sales
Thanks for re-blogging Barbara.
October 31, 2010 09:15 AM
Rainer
65,244
The Weber Team
Leasing, Property Management and Sales
Coldwell Banker Real Estate

Your home isn't worth what you want to sell the property for it is what someone will actually pay. If you list your home for $300,000 and it sells for $250,000 you didn't loose $50,000 you just wasted time at $300,000.

October 31, 2010 10:29 AM
Ambassador
1,657,323
Barbara-Jo Roberts Berberi
Palm Harbor Florida Residential Real Estate
Charles Rutenberg Realty

Barbara - when I have someone ask me if the price is going to get any lower I know I am dealing with someone not really interested in purchasing! The prices are great right now and won't last much longer!

November 02, 2010 08:03 PM
Ambassador
822,711

Barbara Martino-Sliva

Vero Beach Real Estate Vero Beach Homes for Sale
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Author Bio: Barbara Martino-Sliva brings 20+ years of Real Estate experience to every transaction.

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