Are you thinking about selling your home? Has someone approached you about seller financing the home? Is this an option that you need to know more about? Working with a real estate agent can help you avoid costly mistakes when selling your home. He or she can help you learn about seller financing and determine if it would be a good option for you to consider. My real estate agent helped me sell my home to a wonderful family that didn't have credit that was established enough to take out a traditional mortgage. Visit my site to find out what we looked for to determine if this was a wise decision for us to make.
If you've been on the fence as to whether you'd like to sell your house or not, it'll be much easier to make an informed decision after consulting with a realtor in your area. An experienced and competent realtor can provide you with a market snapshot report that will allow you to gauge how much your house is worth and how the real estate market is doing in your area. Here are 3 particularly important factors that you should scrutinize within the market snapshot that you are provided.
The Suggested Listing Price of Your Home
When deciding whether selling your house is a good decision or not, you must determine whether selling your house will be financially feasible in your situation. Figure out whether you'll be profiting from the sale of your house or whether you'll be down some money, as you'll be selling your house for less than what you purchased it for. Generally speaking, now is a good time as any to sell. According to the S&P/Case-Shiller national home price index, there was an increase of 4.3% in April 2016. You should find the suggested listing price of your home within the market snapshot. This listing price has been determined by looking at similar listings that were sold nearby.
The market snapshot should give you some idea as to whether the listings that were sold nearby were sold at above or below the listed price. If you're going to be selling your house, you're probably looking to buy a new one in a different neighborhood. You should also ask your realtor to provide you with a market snapshot of that neighborhood to see how it's doing and whether it's financially feasible for you to purchase a house there.
The Amount of New Listings in Your Nearby Area and Neighborhood
Whether or not you're going to be getting a lot of bids and offers from potential buyers will really depend on whether there's a lot of competition in your area. From the market snapshot, consider the amount of listings that are in your nearby area and neighborhood, as you'll likely be competing with these sellers to attract buyers. Take a look at the average amount of new listings that are being listed every month. If you witness a decline, it might be a good time to step in, as there's not a lot of competition. You won't have to do much to impress potential buyers. In addition, since the potential buyers don't have as many options, you're likely going to get a better deal.
On the other hand, if you see that there are more and more houses being listed each day, you might want to hold off selling your house for now and wait until the market quiets down. An influx of real estate listings can make it a lot more difficult for you to sell your home.
The Average Amount of Days that the House Is on the Market
The longer that your house sits on the market, then the lower the bids are going to be. You probably also don't want to have to sit and wait around when selling a house, so consider the average amount of days that the house is on the market when gauging whether it's a good time to sell your home.
The market snapshot should break down the average amount of days that the house is on the market into two different numbers. It should provide you with some insight as to what the average amount of days for all listings that are being sold in your nearby area compared to the average amount of days that it takes the realtor to sell houses that are being listed by them.
Conclusion
Don't be afraid to ask for a market snapshot from your realtor when making a decision regarding whether you want to sell or not. You might want to request a market snapshot report from several realtors in order to get a better idea of what everyone is seeing and experiencing. Ask the realtor to send you market snapshots periodically, so that you are up-to-date with how the market is performing. This will help you make an informed decision as to when to put your house up for sale.
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