Our Local Outlook to sell or not to sell that is the question????

As we all have seen recently signs are going up in our area showing that many homes are for sale and on the market. For those that choose to sell in our current market the motivation that is driving them to do so is either my necessity, or the desire to move up to a better home since their money will go further in a buyers market. Although there are many reasons to sell your home far more than just the few reasons I listed, there are a few questions you should ask yourself when trying to decide whether to sell or not to sell you home:

1- What is your reason for deciding to list your home?

If you answer for any other reason but the two I listed above and are simply trying to feel out the market then proceed with caution. When listing in a market like we are in now means that buyers have so many choices and they can be less willing to pay what you feel your home is worth. Lower offers, lack of interest are all common in this market. Pricing is the main issue, if you are in a hurry to move you may find that your home is not selling fast enough. Fast moving properties are priced right in the current market they are not based on old data or where your home was priced years ago. Listen to your Realtor when they show you the CMA and it shows the home should be priced differently. They want you to get to the end result but can not do so without the proper price. Remember PROPER PRICING= SOLD! That being said we are in the process of seeing the market get better and it is changing almost daily. Also, too many homes in one area naturally drive down the price that a property is worth. So do your neighbors a favor and only list if your are really motivated to sell and realize that you may not get the asking price you want on your current home but that means that once you are able to purchase another home you are likely to get far more for you money.

2- Do your REALLY need to Sell?

Some people choose to sell to cash out on equity that they have earned in their current home. Normally that is a reasonable, now with interest rates so very low (historic lows) it may be a better idea for you to refinance your mortgage and get the rate locked in now! Say you took out a 30 year, $300,000 fixed rate mortgage two years ago? If you kept your current mortgage with the remaining balance of say $292,400 at 6% and your monthly payment was $1800, your future interest payments would equal $311,940 compare that with the same remaining balance at 5% interest with a new monthly payment of $1570 with a total of future interest payments being $272,680. That means that just by the reduction of 1% in your interest rate you will have saved yourself from paying $39,260 in additional interest! That is enough to help pay your child's college tuition...and whatever else you could find to do with nearly $40,000! SO you see refinancing is a very smart decision.

3- I really need to sell, but I am I ready for what it will take for me to sell my home?

To sell your home in a "buyers" market your home needs to show well. That means you will need to do many things to get your home ready to show potential buyers. #1 gets your home looking good on the outside so that you will have "curb appeal". #2 reduces personal items in the home to increase your buyer's ability to see them in your home. #3 get rid of clutter....nothing turns off buyers like a home that you can't see due to the over abundance of clutter. #4 Consider new paint inside and new carpet if the home is more than 5 years old. Even though you love PINK your potential buyer may not be so fond of that color or your collection of teddy bears that you have been collecting since birth. You get my drift right? Do not assume everyone will like what you like, remember when you bought your home the open spaces, large rooms, flooring, storage space, great kitchen all those things that made you fall in love with your home is what the buyers need to see too! Start to pack up those items to take to your new home and turn your current home back into a house like it was when you first saw it. Consider hiring a professional stager that will assist in getting your home show ready! A professional realtor like me will provide you with a list of reputable stagers that can get you set up for far less than you think! #5 Be ready to make yourself scarce for open houses and showing appointments if you currently live in your home. A home will not be sold unless buyers can "see" it! So get babysitters, pet boarders, and schedule activities away from home so that buyers are able to view your home on a regular basis.

Just a final note, deciding to sell your home is a "BIG" decision. Always consult a realtor that you feel comfortable with and that has YOUR best interest at heart. This will help make the process smoother, and will aide in protecting you as well as your financial future. If you don't have a realtor and are looking to buy or sell or even if you just have questions and would like to chat I am always available so feel free to contact me or David anytime. We live here and call Augusta Pines or home so you know we care! www.themccampbellteam.com