Future Consideration When Selling Your Tucson Home
November 6, 2006
Post Tags: A-buyers-market , Tucson-Home-Buyers , tucson-home-sellers
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I’m afraid too many home seller’s are spending time looking back and not looking forward to the future. I’ll try and keep this short and to the point.
If you are a Tucson Home Seller, or selling a home pretty much anywhere in the country you should consider the following things:
- The longer your home is on the market the more leverage buyers perceive to have over you when making an offer, Translated “You will get lower offers”
- You think there is no hurry to selling. Have you stopped to consider the cost you continue to incur each day your house sits on the market, especially if it is vacant.
- You can sell a your personal residence every two years and incur no capital gains. The clock doesn’t start ticking on that two years until you buy another home.
- Most home Sellers become home Buyers once their home is sold. Do you want to buy when the market is going up?
- The longer your home is on the market in a buyer’s market the probability is your final sale price will be much less than the initial listing price.
These are all things you should consider when you have a home on the market. I read yesterday the saying used to be “location, location, location” in this market it is “price, price, price”; this is very true.
We want every single Tucson Home Seller to get the best price they can for their home. It is painful to see so many asking much more than the market will bear and end up taking much less than some offers they turned down along the way.
I’ll expand on number 4 tomorrow. “Most Home Sellers Become Home Buyers”
November 8th, 2006 at 2:58 pm
Dave,
I’m an avid participant & observer of what goes on in the foothills real estate market and the importance of “price, price, price” cannot be overstated in this market. The homes that are well priced for todays market sell quickly in the foothills- because they stand-out - the ones that are not, languish on the market interminably, and as you say, end up selling for less than they would have had they been priced right from the beginning.
Also, in order to stand-out the seller & agent must stay ahead of the market, not with it, because this market is NOT sitting STILL, it is STILL going down.