Myths About Selling Your Property in a Slow Market
Even with the Chicago North Shore market in good shape, there are always going to be times where supply outweighs the demand. When this occurs, there are a few myths that may need to be dispelled.
Myths About Selling Your Property in a Slow Market
Trying to sell your property in a slow market is definitely frustrating. You may find that it takes longer to sell and you cannot get as much money as you could during a booming market.
However, you can’t believe all the hype about a sluggish real estate market. Do your research and separate the facts from the fiction.
You won’t get a decent price.
Your property will sell for whatever a buyer is willing to spend on it. A comparative market analysis shows you what other buyers spent on real estate like yours.
Of course, if you bought your real estate when values were up, you may have to take a loss. However, most people can get a fair price and even make a profit in a slow market.
Your real estate will stay on the market too long.
While it’s true that real estate tends to take longer to sell during a slow market, it’s not impossible to sell them. People do still buy real estate in slower markets.
If your real estate is priced right and prepared for sale, you can still sell it within a reasonable amount of time.
Buyers only want foreclosures and short sales.
The truth is that buyers want good deals, and this can be in the form of money or time. The price of a foreclosure or short sale may certainly be attractive, but they can take a considerable amount of time to close while the banks negotiate their terms.
Paying slightly more for a traditional sale is sometimes well worth the time they can save.
Selling your property in a slow market isn’t easy, but it can be done. I can help you sell your real estate whether it’s a slow market or a booming market.
Thank You and Have a Great Day
Marina Jacobson
Broker, SFRDirect: 847-510-5009
Cell: 847-361-5605
Fax: 847-510-5109
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