Right now might be the best time to sell your home in Sarasota Florida. I know it sounds crazy but read on.
Every home or condo has attributes about it that, now tht you've lived in it for a while, you wish you could change. You may have recognized these issues when you bought the property but the property fit your needs in other ways so you ignored them. Now those issues are beginning to "bug" you. The problem is that you cannot fix these problems now for various reasons.
It may be that your home or condo cannot be changed to suit your wishes because of its physical structure, association rules, it's location, or even changes in your own personal circumstances. Maybe it was near a great school when you bought the home, but now the kids are gone and that nearby school is just a source of noise and traffic. Or, maybe the cost of making the change would drive your investment in the home beyond what the neighborhood will support. Perhaps you should look at these "issues that can't be "fixed" as "opportunities." Are you kidding, you want me to consider selling my property now that home prices have dropped ?
Exactly, now might be the right time to sell your current home. While the price you'll get for your home may be down, so is the price of a home that doesn't have the same issues or drawbacks. With recent steep declines in Sarasota and Bradenton area home and condo prices and with mortgage rates at historically low rates, NOW may be exactly the right time to step up to the home that maybe you originally wanted but couldn't afford. And remember this. The "issues" you have with your current home may not be issues at all to a prospective buyer. Take the nearby school issue. For some people that would be a major advantage of your home.
Let's take an example. Suppose you bought your home 3 or 4 years ago for $300,000, but it has now lost 20% of its original value. It might sell today for closer to $240.000. But, the home you originally wanted; the one that sold then for $425,000 is also down now, by that same 20% to about $340,000, a drop of $85,000, almost one and a half times the reduction the price on your current home.
And with so many homes on the market right now, if the seller of the home you'd like really needs to sell, it is possible that, with the help of an aggressive Realtor, you can negotiate that price down even lower than $340,00. Chances are that if you could afford your $300,000 home 3 or 4 years ago, even with just normal yeqar over year increases in your income, you can probably afford the home you always wanted now that Sarasota area home and condo prices are so depressed.
As a bonus, when Florida home prices start to rebound, you'll not only have a nicer home, but that new home's price may rise even faster than your old one with its drawbacks.
For help in finding the perfect Sarasota Florida area home, visit the Sarasota Florida Real Estate website of Dick Plumb of Mt Vernon ERA. For more immediate help, you may call him toll-free at 888-818-8302 or you may E-Mail Dick for more info on Sarasota and Bradenton Florida real estate opportunities. Dick would be delighted to be of service.
4 comments:
Great idea. I'm going to offer this same logic to som of my "reluctant" propsects. Thanks.
That is a great idea. That approach should also work here in the Tampa Florida real estate market. Got any more bright ideas to help sell real estate ? I'm all ears.
I was just reading another blog that said this same thing. So if I'm repetitive that's why. I think it's a great idea because prices are so discounted right now. I would just be wary of getting out of your current house if its price is also discounted or value has been lost. Unless you can get out of your current house putting some cash in your pocket then I'd find a way to pick up discounted property in Florida some other way using OPM. Great thought but I'd be careful how fast I am to jump out of a house if I'm upside-down.
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