Six years after the market peaked in 2006 and prices started to decline, many sellers are still in denial about the current market value of their homes. It’s difficult for most sellers to accept the reality of today’s home-sale market, whether they bought at or near the peak and will lose money selling today, or …
Buying at a low price does have a downside Most buyers have a wish list of features they’d like to have in a home. Often missing from that list is how salable the home will be when they later decide to sell. Generally, buyers deal indirectly with resale value. They want a home they can …
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Negotiation strategies differ depending on how well the home is priced and who’s on the other side. If you’re trying to buy a short-sale listing where the lender has to agree to accept less than the amount owed, the seller doesn’t have much say in the negotiations about price unless he can contribute money to …
Continue reading ‘Price is not all that matters in real estate sales’ »
Fears that droves of underwater homeowners will walk away from their homes in “strategic defaults” may be overblown, research by economists at the Federal Reserve Bank of San Francisco suggests. In California, Florida and Nevada, more than one in five mortgages have principal balances that are greater than the estimated value of the homes that …