All homeowners hope and pray the home they love, will be worth more when it is time to sell.
For those who purchased in 2005 and 2006 that has not been the case. We all know what happened with the catastrophic roll back on homeowners equity, leaving so many upside down. That was when there were short
sale, foreclosures and distress home sales on every corner. However those days for the most part have come and gone....
HOMEOWNERS! Don't be lulled into the fact you think the real estate market is still bad. It's NOT! The real estate market has improved.
If you are a homeowner, who would like to sell, please do yourself a favor. Do not agree to list and sell your home for anything less than
the FAIR MARKET VALUE. If you do, you are losing precious dollars that belong to you!
"Now if you're rich and you have no problem leaving equity on the table for the new purchaser...that is your choice."
However in all my years of helping homeowners list and sell their home, I have never seen a homeowner willingly leave thousand of dollars of equity behind.
A real estate agent by the name of Peggy received a call. A couple who have been following her real estate blog, asked for her help. She was doing a Comparative Market Evaluation and she was dismayed at what she saw. Several
homeowners have been listing their properties very low and settled tens of thousands of dollars less than the one she recently sold in the community. The homes were similar in square footage, similar condition and features. But they didn't order an appraisal
before they listed and sold there homes, therefore they missed out on thousands of dollars.
HOW DO YOU PREVENT THAT FROM BEING YOU?
- Order an appraisal before you list your home.
- Don't sign a contract until you know the Market Value.
- Question your appraiser before hiring so that they know the area and are less likely to make mistakes.
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