As Real Estate Brokers, we seem to be constantly asked the same questions. My answer is always the same, "That depends on your circumstances". There are many factors that effect this decision.
How much do you owe? What are your plans if you sell? How fast do you want to make a transaction?
You may notice I didn't include the question, "How much do you want to sell your home for?" This question is determined by market conditions and the condition of your property, not by a seller's pre determined value statement. When I hear a seller say "I'm not taking a penny under $200,000" or "I'm not taking less than I paid for it", I know that it's likely this seller has already answered the original question himself.
Lets face it some properties, depending on age, roofing and central heat and air systems have depreciated and may not be worth the original purchase price without major repairs or renovations.
Other properties bought in 2006 or 2007 are not worth the same value today. The good news is the same market factors that make your property less valuable today may make your new property that you move to more affordable. In this situation, selling property for less can not be considered a loss and often times ends up as a favorable exchange.
The most expensive factor in selling a home is human emotion. Don't forget that a real estate transaction is a business deal and does not pit buyer against seller. I know a gentleman that refused an offer over two years ago that was within $5,000 of his asking price. Since that time he has made over 16,000 dollars worth of mortgage payments on a second home he seldom uses. Add taxes, insurance, and utilities to his costs, and his decision gets worse. The human emotion of stubbornness usually only hurts the one who has it. There are many bodies in the ocean floor who at one time refused to get into a lifeboat! Most of these bodies were the captain of their ship, why would anyone want to go down with their ship when someone else wants to buy it!
Here's the great news. Houses are selling at a rapid rate. If you're considering selling your home contact a real estate professional. Be leery of a listing agent that agrees with everything you say. Remember, he or she is there to help you get on with your life's plan.
Ask yourself what your plans are when you sell and how fast you want to make that transaction. Then, pick up the phone and call a Realtor.
Murphy NC Real Estate Sales and Service - Corky Vetten, Broker/CRS/Realtor with Exit Realty Mountain View Properties is one of the leaders in Marketing Mountain Properties. Corky specializes in assisting buyers and sellers Invest in Real Estate in Western North Carolina and North Georgia, including the towns of Murphy, Andrews, Hayesville, Ellijay, Blairsville, Blue Ridge and the surrounding areas.
Corky Vetten, Broker/CRS is a top Real Estate Professional located in Murphy, NC. Corky can be reached at corkyvetten.com or exitmurphy.com. Or you can email him at firstname.lastname@example.org. His cell Phone number is 828-361-0358 and the Office is Exit Realty Mountain View Properties at 1900 US Hwy 64 West Murphy, NC 28906.