What a Great Question! Should you sell your home? The answer may surprise you. And the answer is, the same as it has been for as long as I can remember. It is nothing magical or secret. The answer is … maybe. That is the same answer that I been giving to homeowners and investors for years. The first question to ask before you choose to sell or not sell is, why do I want to sell? If you need to sell, job relocation, divorce etc then you have already answered the second question, should I sell. If you would like to upgrade your home, more room, nicer, larger lot, better location etc then the answer to the second question is perhaps yes. Yes you should sell your home. WHAT! SELL IN THIS MARKET!!! What are you thinking? Here’s the thing, if you sell your home for a perceived loss and still make a profit then yes now may be the time to sell and move up. A perceived loss? no way it is a real loss. My home was worth $200,000 and now it is only worth $175,000. I’m losing money. Yes you will have a perceived loss of $25,000 however if you still come out ahead then you can possibly move up to your next home and make money. If your next home was going to cost $350,000 you may now be able to purchase it for about $250,000 to $275,000. A savings to you of around $75,000 dollars. If you take away the perceived loss of $25,000 then you are ahead by about $50,000!!! And you can do this on any size home when you are moving up. WOW! How about that. Want more? Okay. You still haven’t answered the second question should I sell my home? Huh? How come? The numbers look good. Of course they look good however now that you want to sell you need to see if you should. More next Week.
Tags: Boise real estate, first time home buyers, Foreclosure, housing prices, Hud Homes, Idaho Real Estate, Meridian real estate, rent or buy, Rich Nesbit, weather
