January 2009 - Posts

Today Show Video: Myths on Buying and Selling Your Home
27 January 09 10:34 AM | Christie Giannetto | 0 Comments   
If you didn't catch the Today Show yesterday morning, you might be interested in taking a look at this video. The Realtor featured makes some excellent points. She does say that it's not the "worst" time to sell and I'm not sure if I agree with her on that one. It may not be the "worst" time, but it's definitely not a good time! Over 50% of the homes that are selling in the current market are foreclosures or short sales and those are tough to compete with. For sellers who have negative equity and need to get out of a home, a short sale is an excellent option and, in many cases, a way to avoid foreclosure. People with equity in their homes, however, may want to consider waiting a year or two (or longer) before they sell. The big exception to this (as the agent in the video points out) is for sellers who plan to "move up." The savings from buying a bigger home in the down market will more than compensate for the lack of profit gained on selling a smaller home in the same market. Read More...