There are many reasons to feel pressured to sell, be it a job transfer, family medical issues, or financial hardship.
This is when you face cold hard facts about your home’s value and what you can expect to net from your sale.
Understand that what you paid for your home years ago has no relevance today, and a buyer won’t pay a premium price simply because that’s what you owe.
If your home is now worth less than what you still owe, it may be time to call your lender and arrange the listing as a short sale.
Your lender will indicate the lowest price they’ll accept, and you can begin your aggressive marketing. A short sale will blemish your credit rating, but not as badly as a foreclosure would.
If you’re not experiencing such financial hardship, but still facing a deadline to sell, then you need to discuss the Comparative Market Analysis (CMA) that your agent prepares, and price your home below the average sales prices listed.
That’s “sales” prices, not “listing” prices. Expired listings educate you about the prices for which homes did not sell under any circumstances, so pay attention.
Realize that an under priced home will seem like a bargain, and attract more interest and qualified buyers.
It’s always better to sell lower sooner than have to reduce your price and sell lower later.
The Placer County Association of Realtors is the professional trade association representing approximately 2,400 Realtors, affiliates and other related representatives in Placer County. For more information, call (916) 624-8271 or visit online at www.pcaor.com.