The start of the new year pushes people to think anew and become hopeful. This change may even include planning to sell houses and move to a new location. While this idea gives excitement and also anxiety at the same time, there are pros and cons that prospective sellers must consider for this big step. CNN Money details the things that home sellers must know before considering selling a home in 2016.
Will the house sell? Is 2016 the best year for a house to sell? Before considering these issues, a seller must determine if the house is really marketable, location-wise, need-wise, will this house really make buyers eye it and what are the positive points of the house.
As the outlet points out, the selling point depends on the location of the home itself and the areas that are struggling in the past is highly perceived to have the same outcome in the future.
"Where you live is a key factor in determining just how much of a seller's market you can expect. Hot markets like San Francisco have seen some housing-boom-era practices return to favor, with many reports of bidding wars that result in offers well above the asking price."
"By contrast, areas where economic prospects are less favorable have never fully recovered from the housing bust. The more lucrative a region's economic future appears to be, the easier you can expect it to be to sell a home." based on the article.
While there are mixed issues on this process, a seller can always seek the help of a real estate agent especially if the seller is determined to find the best buyer for his property. But seeking professional services may mean paying a portion for commissions but CNN Money also specified that there are real estate agents that offers a more friendly commission that what was expected in the past.
"Most homeowners use a real-estate agent to help market and sell their homes. Historically, the typical 6% commission on home sales was sacrosanct, but some agents have increasingly been willing to negotiate lower commissions for their services,"
"Flat-fee brokerages have also popped up, offering a fixed cost that sellers can count on that's often lower than the percentage-based commission would be." as included in the outlet.
Apart from these points, some home buyers may also consider the tax benefits and mortgage fees for their houses before deciding to hit the property in the market.