Real Estate Market: 5 Reasons You Should Sell Your House TODAY!

Selling your house in today’s market can be extremely difficult. It is for that reason that every seller should take advantage of each and every opportunity that appears. Each fall, such an opportunity presents itself. This fall, that opportunity may be just too good to pass up. Below are five reasons you should consider when pricing your house to sell in the next 90 days. Meet with your real estate agent and mortgage professional today and see whether it is the right move for you and your family.

1. Entering this time of year, the buyers are more serious.

We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of urgency with the supply of eligible properties at all time highs. However, at this time of year, the ‘lookers’ are at the stores doing their holiday shopping. The home buyers left in the market are serious and are more apt to make a purchasing decision. Less showings – but to more motivated purchasers.

2. If you are moving up, you can save thousands.

The Chicago Tribune stated in an article last week that sellers who want to ‘trade up’ should act now: It could be a bigger house, different neighborhood or a better school district, but it comes with a higher price tag. Do the math; this might be the right time. A home that was once worth $300,000 may now be worth $240,000 in a market where prices have fallen 20 percent. Wow, you think, the seller is taking a bath. But that seller may also be a prospective buyer who wants a house that once was valued at $400,000. With an equivalent market drop and a realistic listing price, that house may now sell for $320,000. So, in effect, the person is losing $60,000 on the sale of one home but coming out ahead $20,000 on the purchase of another. Keep in mind the spread may be even greater. There’s a smaller pool of potential buyers for more expensive homes, so sellers may be more willing to cut their price to get a deal done.

3. Interest rates just fell again – to 4.19%.

Professor Karl E. Case, the founder of the Case Shiller Pricing Index in an article in the New York Times last month actually did the math for us: Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833 … housing has perhaps never been a better bargain.

4. You beat the rush of inventory that is coming next year.

Every year there is an increase of inventory which comes to market from January through April as homeowners put their houses up for sale in preparation for the spring market. As an example, here is the number of listings available for sale in each of those months in 2010.
  • January – 3,277,000
  • February – 3,531,000
  • March – 3,626,000
  • April – 4,029,000
You won’t have to worry about this increasing competition if you sell now.

5. You have less ‘discounted’ inventory with which to compete.

This year, sellers of non-distressed properties have been given an early holiday present. With banks declaring a suspension on the sale of many distressed properties (foreclosures), there has been a large supply of discounted properties removed from competition. No one knows how long this self imposed moratorium will last. However, while it does, every homeowner has a better chance of selling their property. Bottom Line If you are looking to sell in the near future, there may not be a more opportune time than this fall. Serious buyers, great move-up deals and less competition from foreclosures creates the perfect selling situation. Don’t miss it! The KCM Crew

Real Estate: The Role of a Trusted Real Estate Advisor

Homeownership is wonderful thing and a source of pride like no other. You get to build equity, deduct taxes and interest, plus have a place to call your own. With that said, there is a lot more than just buying and selling your home. As your trusted real estate advisors, The Lee Ann Miller Team is here to help you maximize your investment and release some of the hassles of homeownership between purchases. Here’s how: Re-insurance- You should do an annual insurance “checkup” to make sure your coverage is adequate to cover the replacement value of your home and contents. We will be happy to assist you and give you a few of our favorite Insurance agents. Remodel You have to be careful when remolding your home. Some improvements can be “over-improvements” while others can be ‘”under-improvments”. We can help you determine which improvments will give you the biggest return on investment and those you should avoid. Refinance– Interest rates are at a historic low however, they are expected to rise soon. This may be your last opportunity to refinance  and lower your rate. We can advise you if it makes since to refinace and put you in contact with some of our trusted Mortgage consultants. Re-valuation– Monitoring the recent sales in your neighborhood and keeping up with the current real estate market makes you a smart homeowner. Ask us how you can receive a customized Market Report to keep you in the know! Repair- unfortunately, this is a big part of homeownership. Things break and it is usually when it’s least convenient. Let us connect you with trusted vendors. That’s one less thing you will have to worry about. Re-asses- When you receive your annual property assessment, do you know what it means? Do you think it is fair? What actions can you take if it’s not what you expected? I can help you understand your assessment and advise on how this may affect the resale of your home. Referrals– If you didn’t already know, your referrals are our greatest compliment. We would be happy to provide your family, friends, neighbors and colleagues the same service and knowledge. Whether they are moving across town or across the country, we can help them sell their home or find their next one. Contact your favorite advisors today!

Real Estate: COMMISSIONS -The Breakdown

 

Commissions are split four ways to compensate all parties who make financial and time investments in successfully selling your property. Real estate agents and companies do not get paid until the transaction is closed and you have your proceeds from the sale.