Can I Afford to Sell My Home? Part I

For sale

    The market has almost recovered from the last real estate crash. In fact, it is estimated that over 90% of homeowners are no longer underwater on their mortgages. Homeowners who have been trapped in their homes for years are finally able to start looking for a new home. While it is certainly fun and exciting to go home shopping, some homeowners are still not able to sell their homes. There are two reasons for this, one is they do not have possess the required EMOTIONAL equity to sell their home.

    The first emotional hurdle is finding out what the home is worth. When a homeowner asks a Realtor to provide them with an estimate of their home’s value it is very important to try and avoid emotion; the Realtor is providing you with his opinion regarding your house’s current value based on comparable sales in the area.  He is trying to present a fair price based on his experience. Remember: The Realtor is on your side.Have an open mind when your Realtor presented with your home’s value.

    Selling your home can be a very taxing experience emotionally. To complete the sale of your home you will need to be flexible. Homeowners must be willing to commit to making the home ready for buyers. Sometimes the hardest part is keeping the home “show ready.” Sellers need to be flexible about the showing times of their home. The easier it is to show a home, the more the home will be shown, and the more offers you will receive. Once a home has been shown to the right buyer, an offer is made, terms are negotiated, and an inspection ordered.

    During this time frame your house will receive a thorough “physical.” The roof, plumbing, electrical, foundation, paint, appliances, and more will undergo rigorous scrutiny. You may have forgotten about the window in the garage that was cracked in 2004, but that window could be considered a “health and safety violation.”

    Throughout the inspection process it is important not to react emotionally to the inspector’s findings. The inspectors and buyers are not attacking you or your home personally. The buyers love your house – that is why they put an offer in! They want to make sure that the home is healthy and safe before they move their loved ones in. Once the home inspections are complete and necessary repairs have been made, you, the homeowner will need to turn over the keys to the new homeowner.

       Deciding to sell your home may be an exciting idea, but before you pull the trigger, remember: 1. Be open to what the Realtor believes your home to be worth.  2. Be mindful of the work and repairs that will go into selling your home. 3. Remain calm and flexible during this exciting time.

John Jennings, III

BRE# 01982171

John Jennings, III is a licensed Realtor® who works for Mid State Realty in Coalinga, CA. For more articles like this one go to johnjenningsrealtor.com. John can be reached at john@oaktreere.net and (559) 970-4312.


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