Is worrying whether to sell your home while a "bad housing market" exists keeping you up at night? Market values have dropped considerably across the nation due to a glut of unsold homes, mounting foreclosures and a general fear our economy is in the toilet.http://www.trcb.com/en-Us60Sat, 26 May 2012 07:04:26 ESTCopyright 2012 Cynthia Helwig, TRCB.com All Right Reservedhttp://www.trcb.com/real-estate/house-for-sale/to-sell-or-not-to-sell-7749.htm<p>Is worrying whether to sell your home while a "badhousing market" exists keeping you up at night?&nbsp;Market values havedropped considerably across the nation due to a glut of unsold homes,mounting foreclosures and a general fear our economy is in the toilet.</p><p>&nbsp;Notto fear.&nbsp;Your first step is to determine whether your home would fallwithin the upside-down category, which means the remaining balance onyour mortgage will prove higher than what your property appraises for.</p><p>Tosell your home at a decent profit means you will have to swallow alittle humble pie, be practical, sensible and disciplined if you doit.&nbsp;Forget if John Doe on your road sold his house that looks likeyours last year for $225,000.&nbsp;It will not matter.</p><p>When the lenderrepresenting your buyer orders an appraisal, the value will be basedupon those homes most comparable to yours in square footage, style andage that have sold within the past six months in a 2-5 mile radius ofyour location.&nbsp;This is what the bank underwriters base theirdetermination on when the appraisal is reviewed and it's an industrystandard ... no exceptions.&nbsp;It will not matter if you order theappraisal before you list or, the buyer does because nothing caninfluence how the value is determined.</p><p>If you decide to list yourhome with a realtor, they will perform a comparative market analysis(CMA) firsts to determine what to list it for.&nbsp;You may disagree.&nbsp;Do notassume they are a moron and have no clue what they are doing becausethey base their decision on pretty much the same standards anappraiser&nbsp; does.</p><p>Realtors know the industry and you need to trusttheir judgment.&nbsp;To sell yourself, you need to do your homework and keepa level head.&nbsp;Buyers today are savvy, on the web, tuned into the news,reading articles and looking for enticements.&nbsp;If a duplicate house onyour road lists for $200,000, price yours at $195,000 and throw in acleaning service to sweeten the deal.&nbsp;Many buyers are strapped for cashand offering to pay part, or all of their closing costs will mostdefinitely prompt a quicker sale.</p><p>Remember, when the Price Is Right, everyone walks away with a smile on their face.</p>Mon, 30 Mar 2009 18:24:01 ESThttp://www.trcb.com/real-estate/house-for-sale/to-sell-or-not-to-sell-7749.htmTRCB.comReal Estate / House for Sale