To Sell Or Not To Sell? That Is The Question

To Sell Or Not To Sell? That Is The Question
05-27-08

Selling your house is a very tricky business. Regardless of you're home's condition or asking price there are usually a multitude of steps that have to be taken in order to prepare your home for the market. It may come as a shock, but selling your house now may not best the time to list your home for sale. Ultimately, of course, when you sell your home depends upon a number of factors but if prices have been on the decline in your local real estate market then it may not be a good idea to sell at the present time.

Even if you are in a hurry to sell your home, no one likes to get less for their home than what it is worth. You can assess your local real estate market by either going online or by speaking with a local real estate professional. An experienced realtor can provide you with detailed information about your real market and can give you a general impression of where things are headed. Going online to do market research is great if you are a do it yourself kind of person and want information quickly. In most cases, going online to do research is the easiest and best way to do your research.

Lets suppose that homes are on a downward spiral in your and that your current interest rate is a fixed 6.5%. If you're looking to move immediately you will likely have temporarily downgrade to a smaller home like a condo. If you sell your home now you will likely lose about 20% of your home's current market value but if you wait your home will actually increase in value by 35%. You then have to make a decision whether to sell your house now and lose one-fifth of its value or wait, get a smaller home for yourself, and sell later and make a big profit.

A downward market shift is a home seller's worst nightmare. The last thing a homeowner wants is to lose their shirt selling their home. In a downward market shift it's very important to know what your options are. The first thing you need to consider is how badly you need to sell your home. If selling your home is not urgent then it usually pays to wait until the market returns to an upward shift.

The next most important thing is to understand your local real estate market which is not always easy. The best way to get grasp on the local market is to speak with an experienced realtor and do a little research online.

Mark E. Moebius
Miljonair Homes
Custom home builder St. Louis
3451 St. Albans Rd.
St. Albans, MO 63073
636.300.9000