Prudential

Reasons Why To Sell Or Rent Your Home

 There are many reasons why a homeowner chooses to sell.  Did you ever suspect it would be beneficial for a homeowner to sell in today’s market?

Here are various cases why selling would be the best option from a financial perspective:

  • The seller’s current home needs upgrading or deferred maintenance and the homeowner would like to purchase a home that is turn-key.
  • Their starter home is too small, so the sellers would like to purchase a larger home more suitable for their lifestyle.
  • The homeowner’s neighborhood is no longer ideal.  The sellers are planning on moving to an better location.
  • Some homeowners feel they purchased a home that no longer suits their needs.  They are considering another home with a backyard, open floor plan, etc.

Notice how in the preceding cases the homeowners wanted to sell their property, and buy a more expensive home.

Since these sellers want to “move up”, they have an advantage in the marketplace.  Hypothetically let’s say that their current house sold for $400,ooo 5 years ago, and its current market value is $320,000.  These homeowners are thinking about purchasing a home worth $500,000, which sold for $625,000 5 years ago.  While the seller is losing $80,000 in the sale of their home, the market value gained on purchasing a better home is $45,000.  All the houses took a hit of about 20 percent in the marketplace not just the seller’s property.

Some other instances in selling need further evaluation.

  • Death of a family member
  • Divorce
  • Marriage
  • Being closer or further from family or friends
  • Health problems with back or joints preventing the seller from climbing stairs
  • Flipping a house

These sellers need to evaluate whether they are moving up or down in market value on their next home.  If their market value will decrease, another option is to rent out their home.  They could rent until the market eventually increases with inflation or they increase their equity to move up in market value.

If you are interested in selling or renting your home, please feel free to call me at (818) 447-1024 .

JoAnna Selby

 

Share and Enjoy:
  • Print
  • email
  • PDF
  • Facebook
  • LinkedIn
  • Posterous
  • RSS
  • Twitter
  • Live
  • Google Bookmarks
  • StumbleUpon
  • Digg
About JoAnna Selby

My name is JoAnna Selby. I am a Real Estate Sales Professional for Prudential California Realty. I specialize in residential real estate, servicing investors, individuals and families.

Prior to choosing a career in real estate, she worked as an Industrial Engineer. As a local resident, JoAnna Selby puts her insider knowledge to work by finding that one special home in your neighborhood of choice. For both sellers and buyers, JoAnna uses the latest internet marketing tools available to expose properties to the widest possible range of qualified buyers. She makes sure that you receive homes instantly as they come on the market, allowing you the opportunity to see the house before other prospective buyers. Why should you choose JoAnna as your real estate agent? Her business skills, proven ability to balance priorities and loyalty will exceed your expectations.

She believes that when buyers find the right house they will be ready to purchase. “It’s not about selling you a house. It’s about finding a home your family will enjoy.”

For sellers, she wants you to be comfortable with the sale, so she will make sure you understand the comparable market analysis, selling time frame and be ready for your move.

Speak Your Mind