Local Real Estate Comments and Ramblings

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Should You Sell In a buyers Market?

Should you sell in a buyers market? ...... There is no question that right now we are n a buyers market.  If you don't have a home to sell then don't wait to buy. Interest rates are still very low and inventories are up, making it a great time to buy a home.

But what if you have a home to sell first?  If you are moving up to a more expensive home the time has never been better!  No, I haven't lost my mind.  Just do the math with me. Last month there were 532 single family homes sold in Cobb County.  So there are definitely still buyers in the marketplace.  However the average price discount was about 4%.  If you are selling a $200,000 home that means you might have to take an $8000 discount and probably contribute some closing costs.  However, if you're moving up to a more expensive home you can look for the same type of discount or larger! I just had a closing yesterday for a home listed at $300,000.  We were able to negotiate $14,000 of the price plus an additional 4,000 closing costs!  I had another buyer last month who purchased a bank owned home in Cumming, Ga. The purchase price was $292,000 but the home appraised for over $340,000! If you were buying and selling in a more balanced market and homes sold for full value, there is no money to be saved! It may be well worth it for you to sell at somewhat of a discount. In return you might save thousands.

 

*****

 

 


Bob Southard
Broker - Owner  Atlas Realty Service LLC #75911
1% Listing Commissionand BuyerRebates

www.1PercentListingSolution.com

O:678-439-SOLD(7653)

CALL ME DIRECT: 770-656-9134

Buy a home, Sell a home, in Powder Springs, Marietta, Kennesaw, Acworth, Smyrna, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga. Call me for all of your real estate needs.

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Comment balloon 3 commentsBob Southard • November 01 2007 01:46PM

Comments

I would not sell in this market unless I HAD to
Posted by Randy "Lazarus" McAtee, Owner/Broker, Lazarus Realty, Fresno California (Lazarus Realty) almost 12 years ago
True, but its a great time to buy. I wish there these kinds of deals going around when we were house hunting. -Charles
Posted by Jacqulyn Richey, Las Vegas Real Estate (Prominent Realty Group) almost 12 years ago

Randy- I know the market is not as bad here but the fact is we need people to find reasons to sell. Maybe we can find a way to make some sense in the current market?

 Jacqulyn- Thanks for the comment. I think in today's market there are good deals everywhere. Like I said, we need to find ways for it to make good sense for our clients to buy or sell.

 

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) almost 12 years ago

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