If you've ever thought that buying a home was out of reach - think again! Did you know that these days buying costs are actually significantly less than the monthly cost of owning a home?
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control. The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.
Six months ago, we reported that there was a mismatch between the type of inventory of homes for sale and the demand of buyers in the US that was causing the formation of two markets.
Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOWThis may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).
One of the main reasons why people choose to go the 'For Sale By Owner' (FSBO) route is because they believe it will save them from having to pay the commission a real estate agent charges. A new study by Collateral Analytics, however, reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.