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This is an archived article on 5 good reasons to sell your house nowEXCERPTS"There is a ‘shadow' inventory of foreclosures coming to the market
There is a large volume of foreclosed properties which are currently being held by banks. In the near future these houses will come to the market at discounted properties.
Barclays Capital uses foreclosure data from mortgage securities to estimate that there are slightly more than 600,000 homes in the process of foreclosure.
RealtyTrac, which examines public records, estimates the number is closer to 700,000.
Independent housing economist Tom Lawler combines data from Fannie Mae, Freddie Mac, the Federal Housing Administration, Federal Deposit Insurance Corp., and securitization trusts to conclude that there are actually about 500,000.
As these properties come to market there will be an increase in supply of homes. This will create downward pressure on prices.
In addition, more and more families are finding it difficult to keep up with their mortgage payments. And once they fall behind, they are finding it almost impossible to catch back up.It isn't always about the money
If you are considering whether or not to sell your home there must be a reason. Perhaps it is time to move-up to that dream home on the water. Maybe the time has come to downsize and have the freedom to travel more. Maybe you miss the rest of your family who now live in a different part of the country.
Selling a home should not ONLY be about the money. Sometimes it is about moving ahead in your life and doing the things you want to do or need to do. Don't let money get in the way of living your life.
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