Thoughts on today’s real estate market

Some thoughts on today’s real estate market

In today’s market, you must be realistic when thinking of selling your house and purchasing another.  Remember everything is relative.  If you find yourself selling your house for less than you thought it was worth a couple years ago, remember the replacement house you are going to buy will probably also be less in price than it was a couple years ago.

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Also, your house may not compare in price to a bank owned property or pre-foreclosure house somewhere in your neighborhood, but your house is probably in better condition and you can provide a Seller’s Property Disclosure stating the current condition of your property.  Houses that are sold “as is” usually do not have that available and this adds more risk to the potential buyer. So always try to compare apples to apples.  Compare your house with another with similar features and similar condition to get an idea of what the market value of your house might be.  This is where consulting a professional real estate agent is imperative.  With access to the MLS statistics on recently sold comparable houses and knowledge of the current area trends, an agent can help you determine more closely just what your house is worth.