Coming to the decision to sell your house is not always easy. There are a lot of decisions to be made, like whether or not to use a licensed real estate agent or sell directly to a professional home buyer. There are four ways waiting to sell your house in Murfreesboro will cost you. So it’s best to come to a decision quickly so you can more forward.
Houses Are Always In Demand
Waiting to sell your house in Murfreesboro will cost you because there are still buyers for houses. People always need to buy or sell houses. Mortgage rates will always vary, so now is a just as good a time as any to put your house up for sale. There are still enough buyers regardless of market conditions to buy all of the houses for sale. Many buyers that have taken a large portion of their money out of their 401K and the fluctuating stock market to invest it in real estate.
Less Competition
If you put your house up for sale right now, you will have less competition than if you wait until the market really heats up. Buyers will easily find your house in Murfreesboro. This has been a desirable area for many years. Once the downward trend is realized, many sellers will use that as their queue to list their house for sale. That means, the market will soon become flooded and you will have lots of other competition for buyers in Murfreesboro to review. In order to catch the buyer’s attention when the market is flooded, you will have to make sure your curb appeal and all necessary upgrades have been done, and you may have to accept a lower offer than you plan on, just to solidify a buyer.
Prices Dropping
If you wait to sell your house in Murfreesboro and you start to realize that downward trend, that means the average sales price for your comparable properties will also be less than you were expecting, and you may even have to accept a lower than market price offer to sell your house. This costs you the extra capital gain you could have had if you did not wait. When the market is flooded with houses for sale, the buyers have more power in selecting the house they want and are able to make lower offers because they have so many other options. Desperate sellers in markets like these will start accepting the lower offers, which compounds the dip in the housing market.
Extra Fees
The longer you own the property for the year, the higher the percentage of taxes and dues you will owe. The annual taxes on the property are prorated based on how many days out of the year you own it, you will only receive credit for the part of the year you will not own the property. The same goes for homeowners association fees, only the part of the year you do not own the property will get refunded. These prorations are subject to the payment due dates. Most taxes are due at the end of the year, but some homeowners association fees are assessed at a different point in the year.