Jim Basquette's Questions and Answers

Is it a good time to put your home up on the market now?

Answer

This depends on your situation and why you are asking. If your concern is about the less than favorable real estate market we are in, it would be helpful to know that homes are selling everyday. The ones that are selling are the ones that are priced right for the condition, location and market. This means that your home may need to be priced lower that it would have a few years ago. It's not all bad news though, if you are buying a home, it will be priced less also. This means that if you are upgrading to a more expensive home, now is a better time to move than it will be than when the market improves because if the price is the same % lower on the home you are buying, you come out ahead.The difficult part for most people is coming to grips with the lower price on the home you own now and realizing that what really matters is the net after the sale and purchase of the new home.Even if you are not buying a home after your current home sells, this still may be a good time for you if you want or need to sell. Interest rates are low now and will probably go up. You home will be affordable to a buyer now so your home is more salable now. If you wait for better prices (which may not happen for several years) and rates go up, this will prevent prices from rising as much.Get a GOOD listing agent in your area, skills are different between working with buyers and sellers and a good buyers agent may not be the best listing agent. I have an article on choosing a good sellers agent at http://JimSellsHomes.com you can read or I would be glad to recommend one in your area. Don't choose an agent based on low commission, you can net more with a good agent even if the commission is higher. You want exposure (which costs money) to get the best offer and ;ow commissions mean less for marketing.

October 07

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