Does your seller plan to buy another home? The good news is ...

By
Real Estate Agent with RE/MAX Gold, Fair Oaks

I had an interesting conversation with a seller whose home I held open.  Her home has been listed for some time and she has reduced the price but has had no offers and is getting concerned.  She was close to tears today, lamenting that if she can't get enough proceeds from the sale of her house, she won't be able to buy a home in the neighborhood to which she wants to move.

I explained the fallacy in that reasoning, and it is something that most people don't think about.  If the market were on fire and her house would sell for a high price, then the house she wants to buy would also be more expensive. With prices down a bit now, her house will likely sell for less than she had hoped, but the house she wants will also be less expensive to buy.  The ratios between the two are probably close to the same - just in a different bracket.

If you look at it that way, the seller who plans to buy another home isn't really losing anything with the market down, and unless her income dropped dramatically, she will find it easier to qualify for her new purchase because with interest rates and prices both low her payments will take a lower percentage of her income (and her buyers will also find it easier to qualify for a conventional loan on her house.

It's all good.  Attitude is everything!  We can conquer this market - it's all in how you perceive it and how you present it. 

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Thinking of selling your home?  Remember, it costs you nothing for me to come out and discuss your home, the market in your area, and give you a market analysis and presentation so that you will know what you can expect to get for your home.

Call for appointment:  (916) 705-8951


Also Remember, if you are planning to buy a home, I can help you to tour any home for sale in Sacramento County and the surrounding areas, no matter what firm has it listed, and I can help you with your purchase if you find the perfect home for you.

Just give me a call at (916) 705-8951

***********
Susan Neal
Broker / Realtor

Susan Neal Fine Properties
RE/MAX Gold
Fair Oaks, California

Full time real estate services in Fair Oaks CA, with friendly professionalism, 30+ years experience. 
I work hard to give my buyer or seller a low-stress transaction.

"Happy clients make me happy."

For all your real estate needs or questions, call me at (916)705-8951 or visitmy website at www.SusanNealFineProperties.com.    

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Tags:
real estate market
attitude
pricing
presentation
price reduction
affordability

Comments 4 New Comment

Rainmaker
652,246
Bob & Carolin Benjamin
East Phoenix Arizona Homes
Benjamin Realty LLC
Many people are not seeing it that way. And they have to be reminded.
October 01, 2007 12:40 AM
Ambassador
1,268,960
Loreena Yeo
Realtor® | Frisco TX Community Ambassador
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.

You are right to think about it this way. However, you know what my Seller mentioned which is very true?

A net number on the closing papers on the Sell side makes a lot of difference in making up in the Buying side - spreaded over time (30 yr note)......

October 01, 2007 12:47 AM
Rainmaker
372,329
Lola Audu
Audu Real Estate~Grand Rapids, MI ~Welcome Home!
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate
This is an excellent way of thinking about it.  In addition, often times, the house a home owner is thinking of purchasing is in a higher price bracket, so the potential savings are even greater.
October 31, 2007 05:27 PM
Rainmaker
200,398
Karen Martin
Realtor Fall River Westport MA Real Estate Agent
Re/Max Right Choice Real Estate Fall River MA
 I agree,  The lower amount they will receive on the sale of their home is about equal to what they will save when buying. so any time is a good time to sell as long as you will be buying.
October 31, 2007 05:41 PM
Rainmaker
582,697

Susan Neal

Fair Oaks CA & Sacramento Area Real Estate Broker
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