Those numbers come from the National Association of Realtors’ (NAR) latest Existing Home Sales Report which also revealed that there is currently only a 4.2-month supply of inventory available for sale (6-months inventory is considered ‘historically normal’). This IS a great time to be a seller! But, if your home has not sold ask your agent representative to go over the many reasons you are still on the market. Most often, price is one of those reasons
Everyone wants the "best price". Think about it - if you are the seller, you want to receive the best price you can for your home. If you are the buyer, you want to buy the home for the best price you can. It is the agent who brings the two sides together with the minimum of hassle. Achieving the best deal is a win-win for both sides. Read more on that
It is about the professional training, the licensing requirements, the ongoing education, and the experience. Find out about the 5 reasons
If you are a regular follower - how many times have we discussed this one? It may seem logical that eliminating the real estate commission is a way to pocket extra cash, but it is proven not to work. A few lines above we discussed that both sides want the "best price". So the buyer thinking you are saving the real estate commission wants it "since you are not paying it" and you think the very same thing. Maybe the thought is split the savings - and, everyone will have thoughts on how that should work too. And, even if all that worked - did you price your home right? There a reasons to go to a specialist. Some of them were stated above. Check it out
Not all of these tips may apply to you but the objective is the same. If you are selling, your real estate professional will guide you toward preparing your home for the market. Seriously - appearance is important starting with the first impression when folks pull up or drive by the very first time. For more on those 20... some really great ideas
If the decision is simply a financial one, it is relatively easy. To cut expenses, downsize - or possibly relocate. If the cost of staying is not an issue, the decision gets a little more complex. Stay because of emotional attachment and family history, changing nothing or stay and remodel?
It is a very personal decision. If I had this discussion with my grandparents, they would choose to stay put. They would not remodel - they would hold on to family memories of their children and their grandchildren. They might change colors when painting, but not much else outside the comfort zone. Often, the home would be passed on to the next generation with the expectation that it would remain in the family.
In our more modern culture there is less attachment. Families are more mobile and often relocate moving on an average of 8 years. So when the nest is emptied decisions are influenced by other personal choices and there is no right or wrong. If you do decide to stay, there may be a temptation to remodel. One must be careful to not remodel "beyond the neighborhood" and be prepared to get a return of about 64 cents on the dollar spent on remodeling. Not a good return financially - but if you really WANT TO! More on the report