As an active agent in Cherokee County, I talk to people everyday whose house did not sell the first or even the second time they listed it. Almost everyone I talk to that had not re-listed their house after a couple of weeks of it expiring tell me they are going to wait until spring before they try again. I know the market is soft now, but will it be that much better in the spring? I wish I had a crystal ball but I don’t. What I can tell you is when spring comes in Georgia, not only will the Dogwoods and Tulips start popping out but there will probably be hundreds more houses for sale signs popping up as well. Many economists say that it will be 2009 before we see a substantial turn around in the housing market. My point is you should take your chances in today’s market instead of speculating on what the market could do in the future.
Here is a case in point: A homeowner wants to move to a bigger house. They have been in their house for awhile now and want to take the equity they have built up and put it into a new, bigger house. The problem is they couldn’t sell it for what it was worth last year in today’s market so the listing expired. Let’s say as an example that the house was worth $200,000 last year but in today’s market they have been or would be selling for $180,000. They don’t want to “lose” $20K so the house sits on the market until the listing expires and they are trapped in a house that is too small.
What are they to do? My advice would be to price the house to sell today, take the perceived “loss” and move on. Why would I call it a “perceived” loss? Because the opportunity to buy the bigger house now, while prices are flat, will more than offset any loss they may have in selling their current home.
Let’s say they are able to buy that new, bigger house last year for $450,000. Today that same house could be bought for $410,000, a savings of $40K! They are already starting $20K ahead. If you also consider the appreciation which may start to climb late next year or early into 2009, getting the appreciation on a $410,000 house would be more than the appreciation on the $180,000 house. Plus you get to enjoy your new, bigger house now! Next year or even 2009 when your $180,000 house will be worth $200,000 again, the $410,000 house will be worth $450,000. Do you want to "save" $20K only to "lose" $40K when you buy the next house?
If this makes sense to you, please call me and let’s talk about your specific situation. If you still want to wait until spring, please keep my contact information and when spring comes, let me show you my internet marketing system that will have sold houses all winter long. I will do my best to make your house stand out against the hundreds of others available then and we can take our chances.
I do hope you will reconsider waiting until spring and call me today. Let’s face it, the market has slowed down but it has not stopped. Everyday people have to move for one reason or another. Let me put your house in front of hundreds of people a week online, holding a “virtual open house” 24 hours a day, 7 days a week. Let’s sell your house now so you can move on with your life!
Michael Bradford
770-862-8002
Subscribe to:
Post Comments (Atom)
1 comment:
You make a very good point with your take on "perceived loss." This statement couldn't be more true. In fact, I just recently had this same conversation with a prospective seller here in the Myrtle Beach area. We just need to keep getting the word out; there hasn't been a better time to buy in a long time and the deals are definitely out there.
Post a Comment