Home Selling in Today's Delaware Market

Are you thinking about selling your home, but you're afraid you won't get out of it what you feel it's worth? Here are some hard facts you need to reconcile in your mind. Today's real estate market is not what it was last year, the year before, or the year before that. Today's market is a buyer's market and many home owners feel they are taking it on the chin when it comes time to sell their pride and joy. A home that commanded a hefty price 3 or 4 years ago, will not garner the same market price today. Unfortunately, you are in the same seller's boat as thousands of others. You may feel all those upgrade dollars you poured into your home has to come back to you, dollar for dollar, when it comes time to sell. Sad to say, this is not the case.

Your REALTOR can only advise you on what would be considered a fair market price by preparing an indepth Comparative Market Analysis, but it most likely will not be what you expect. A couple of things to remember if your REALTOR gives you that shot of reality. The home you want to sell at a higher than market price will sit and languish on the market if it's not priced correctly. The first 2 or 3 weeks your home is on the market is the peak period for buyer interest. It goes downhill from that point, so why not price it right from the start? If you are selling in order to buy a new home, then remember the dollars you perceive you will lose on the sale, will be dollars in equity you will recoop on your new purchase. If you price your home too high, that's longer time you will be making those payments and the longer time it will be before you can move on. If your REALTOR advises you of a fair market price, and if you want to sell it as quickly as possible, then list your home under that market suggestion. There are too many homes on the market that are priced right for your home to be over-priced.

It may also be a good idea to wait to sell your home if you are in a position to do so. The bottom line: this is a business transaction and the seller that listens to their professional advisor; their REALTOR, is the business person that will make the smartest financial deal in the quickest time. After all, isn't this why you hired a pro?