MI Real Estate Answers: How Can I Get What My Home Is Worth?

Q. I want to move to a bigger house but every agent I talk to tells me I won't get what I want. It's not that I "want" it, I need it be able to make a move.

A. If you're serious about selling, better to price where the market is selling rather than 'chase the market down', by continuing to reduce your price. This usually results in a longer time on the market plus a perception by buyers that there is something 'wrong' with your house because it has been on the market so long.

That said, you can ask whatever you want for your home. The rub comes after you've found a willing and able buyer ready to pay your price because your home needs to appraise for the selling price. Appraisers will use the very same comparable homes that the agents have shown you.

Remember, the beauty of this market is that although you'll take a hit on your home, you'll also be paying a lower price for your new home!

To Sell or To Lease...That is the Question

The good thing about making a move in this real estate market is that there are lots of good deals out there. The question is, what do you do with your home?

When faced with that situation, many Northville MI owners are opting to lease. Before you consider leasing, you should first check with your lender to get preapproved to make sure you can afford your next home. Also, check your existing mortgage because leasing may invalidate the terms.

I've heard homeowners with good and bad leasing experiences. Many would simply prefer not to become landlords. If you do opt to lease your home, be sure you request a credit report as well as personal and landlord references.

Then, read through the State of Michigan Tenant/Landlord Handbook to research and become familar with your responsibilities as a landlord should you go that route.

Whatever you decide to do, Good luck!

Sellers Beware...Don't Make These 10 Mistakes

I follow lots of blogs to keep up on technology, particularly as it relates to real estate. One of my favorites is AgentGenius where the top real estate bloggers in the country post.

If you're thinking of selling your Plymouth home, you'll want to check out this recently highlighted video "How To Avoid the 10 Mistakes Home Sellers Make". It provides a great overview of all the areas you need to consider when getting ready to put your home on the market.



For more information or suggestions, feel free to call, email or text me.