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Things to Consider When Selling Your Home

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                 Things to Consider When Selling Your Home
Although the real estate market has cooled off a bit, it is still a hot market in historical terms. As
a seller, this is good news when you decide to sell your home.

Things to Consider When Selling Your Home

A year or so ago, selling a residence was laughably easy. In some markets, it was clear that
you could list practically anything and get an offer within a week or so. The market was so hot
that some homes sold before actually appearing in MLS listings and such. For sellers, it just
didn’t get any better.

As the market has cooled, sellers have had to return to the basic premise of selling a home.
Homes simply are not being snapped up right and left. Here are a few things you should
consider.

1. Can you afford another home? Most sellers intend to purchase another home with the
proceeds from their sale. Logically, this makes sense, but real estate is not always logical. One
area that can be problematic is the interest rate on loans. Your current loan may have a very
low interest rate, but you will probably have a much higher one on a new loan. Will you be able
to handle the increased monthly payments? Make sure.

2. Why are you going to sell? Some people rush into the sale of a home and come to regret it.
Is there an objective reason, such as relocation, for selling your home or are you trying to cash
in at the top of the market? Cashing in is not a bad thing, but it is unnecessary if you intend to
stay in the same area for the next 10 to 20 years. Markets will bounce up and down, so you
need not be overly concerned about the short term.

3. What is the home worth? This may sound like a simple question, but it is one of the biggest
issues you should be addressing. Remember, the value of the home is set by comparable
homes and appraisals, not what you personally think it is worth. Getting an understanding of
the objective value gives you the ability to determine whether selling is a good idea or not.

The decision to sell is a serious one. It is no secret real estate has dramatically appreciated in
the last few years. Whether you should cash in on that fact is a question only you can answer.




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