So, I was out and about yesterday prospecting for new clients. Doing what I love best, meeting new people and talking real estate. So, I meet this nice couple who asked “Is this really a good time to sale?” And I thought I would share my answer.
And that is: “It Depends.”
I can’t say what is right for your situation. Are we in a really good real estate market? Yes we are. But, does that necessarily mean it’s good for you. Let me give you a few scenarios.( This is where I start numbering!)
So, first determine your reason for selling.
1. If you are looking to get money out of the house, contact your mortgage company to get your loan pay-off amount. The second thing is to get a Professional Real Estate Agent/Realtor to give you a market analysis of your home. Or, how much your house is worth if you were to put it on the market today, based on homes that have sold in your neighborhood. (Also, known as a CMA and this is FREE!!) If the agent comes back with $150,000 as your listing price you will subtract your new listing price from your pay-off amount.
Recommended listing price $150,000
Pay-off amount – 80,000
Profit before fees/closing cost 70, 000
2. Now if prices have not rebounded in your area this could be your scenario. In this scenario, you would actually have to pay to get out of the house!
Recommended list price $100,000
Pay-off amount -120,000
Loss before fees/closing cost -20,000
3. Then there are those who just want to move on with their lives and not be tied to this God-forsaken money pit of a house!
Recommended List price $100,000
Pay-off/fees/closing cost $100,000
Break Even $zero owed
You see it depends on your expectations that determines if this is a good time for you sell!! Hope this helps!
Good Luck on your decision!
If you’re in the Dallas/Ft. Worth area, CALL ME for your free home valuation (Listing price) or CMA (Comparative Market Analysis)! <<Suggested list price!
Just call me we’ll figure it out!! (972) 863-1944