Buying or Selling Baltimore Real Estate here are some thoughts
With the economy, and the housing market specifically, not what we’d like it to be the last few years, it’seasy to understand a hesitation to buy a home. Many people have had direct with a loss of value in their home, thereby putting them into a different financial place than expected. It is difficult to stay positive and keep looking forward in times like this, and I certainly don’t think the tough times are over.
I do, however, believe that we are in store for better times .
Currently, interest rates are at unheard of levels, granting Buyers more purchasing power with the same amount of money.
Also, when home prices do down like they have, it makes it possible to obtain a home for with less money .
I guess the point I am trying to make is that equity and value are gained when the market changes – and that can exist when the market makes a change in either direction. It can absolutely be hard to swallow, when we loose equity , and it is entirely out of our control. But, there is a positive side to it, should you chose to partake.
It has been my current observation that many homes are listed at great prices , and are in great condition. There are a lot of homes on the market, and it is critical that the homes are priced competitively, and show well . If they do not, they generally will sit on the market without being shown and with no offers.
Selling? It is important to price a house competitively at the time of listing. It isn’t the same if you price it in the mid- to high- range of your competition, and then reduce. It is also important to keep a close eye on your neighborhood competition – you want to keep a competitive edge.
Also, sellers really need to be very sensitive to odors in their home. Pet odors, smoke or musty odors can quickly turn a Buyer off, no matter how much they can’t live without other parts of the home.
Sellers should make sure that all appliances (range, dishwasher, microwave, etc.), operating systems (furnaces, hot water heaters, etc.) and accessories (such as hot tubs) are in good working order before the home ever goes on the market. In addition, consider buying a home warranty for these items. This will work as a bonus for the Buyer, but will also protect a Seller during the listing period for certain items. We recently had some Sellers who did this, and their hot water heater went out during the listing period. The home warranty company replaced the hot water heater, less the deductible of $60.
To sum up , I think it is so important to remember to stay positive through all of this. Does that sound silly? Absolutely , but history tells us that the market will come back, both in housing and in the overall economy. The people that prevail are the ones that maintain a positive, yet realistic, outlook and make decisions based on the future , rather than dwelling in the past. Good times are on the way – maybe sooner than any of us predict.
About the Author:
Amy Peterson is a real estate agent in Missoula Montana. Learn more about Missoula Real Estate here.
Posted by Carlos Sagastume on January 17, 2011. Filed under HUD Homes.
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