Home Selling in Des Moines>Question Details

Ellen Fitzpa…, Home Owner in Des Moines, IA

Bought brand new home in suburbs less than a year ago, want to move into country.

Asked by Ellen Fitzpatrick, Des Moines, IA Tue Sep 18, 2012

We purchased a lovely spec home last winter. The neighborhood is growing and the area is very busy, and neighborhood is losing the trees and privacy we valued. We realize now it wasn't a wise location or fit for us. Also, husband's job location has changed and the commute is a hassle. We've tried to make this feel like our home here,but realize it was a mistake. We paid about $600,000 for it and put another 75,000 in customizing it. Is it financially crazy to try to sell it after only living here one year? Have heard new home depreciate. Is there a general rule of thumb for helping us know when we can think about selling it? Thank you.

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10
Marta,

I feel your anxiety and disappointment with your situation. Actually, there is no "rule of thumb" about the best time to sell; its all dictated by the market. If you haven't made any decisions yet, like all the good advise you've received here to now....I would offer the same...your best option is to meet with a qualified realtor that you feel comfortable working with. I extend a personal invitation to meet with you and review the Market Value of your home, no charge, no obligation. You may be in a better spot than you think....inventory is low, and so are interest rates! You can reach me anytime at 515-528-3359 or at: michellecook@iowarealty.com

Best of luck to you :-)
Michelle Cook
0 votes Thank Flag Link Thu Nov 29, 2012
Generally, it's nice to live there as your primary residence for at least 2 years to avoid capital gains when you sell. However, since market value hasn't increased a lot, it shouldn't be a big issue. Let me know if you would like a market analysis on the property to see an estimate of what it might sell for in today's market. I would be more than happy to, and it's a free service. Rates are still extrememly low, which creates the opportunity for more people to purchase in that price range that wouldn't have been able to before!
0 votes Thank Flag Link Tue Nov 13, 2012
Thank you for taking the time to weigh in and appreciate your advice as we're still deciding what to do, thank you.
Flag Tue Nov 13, 2012
We did the exact same thing, except we moved to a small town when we should have moved to the city! We are now trying to sell our, what we thought would be, our forever home. You have to do what feels right to you guys, and if the city isn't it, move! Don't waste more time or money on being unhappy.
0 votes Thank Flag Link Sun Sep 23, 2012
Marta
You are not alone. I recently assisted a client in a similar situation. The client is now in their new home and happy as can be that they made the change. Not saying it will be easy but with the right combination of marketing, hard work and assistance from a qualified realtor you would be amazed at what can happen. I have made it happen for a lot if clients. You can reach me at 515-971-8888 if you would like to discuss your situation further. Best, Carrie Brugger
0 votes Thank Flag Link Sun Sep 23, 2012
Thank you all so much, what great responses. I really appreciate everyones honest feedback, and I'm feeling better about the situation with this information. . Many thanks.
0 votes Thank Flag Link Tue Sep 18, 2012
Marta,

General rule of thumb is when you want to sell your home you put in on the market and sell it. There is no right or wrong time to sell nor is there a rule on how long you should live/own a home before you put your home on the market. Values in the Des Moines area are rising so you might be pleasantly surprised on your home's market value.

As other Realtors have stated the best rule of thumb is to meet with one (or several) Realtors that will give you a free market analysis (present market value of your home). You can then discuss your options with the Realtor and make a decision on what is best for you at this time. Information is what you need. We are here to serve and help you with knowledge to make a wise decision.

I hope this information was of value to you. Good luck in your decision making.

Ruth Miller
Miller McCain
Prudential First Realty
Ph: 515-453-7256
email: ruth@firstrealtyhomes.com
web: ruth. firstrealtyhomes.com
Licensed in the state of Iowa
0 votes Thank Flag Link Tue Sep 18, 2012
You need to meet with realtors that are top sellers in your neighborhood. They, along with a lending agent will let you know your options. If moving is your desire, and you can't accomplish it now, they will set goals for you to accomplish moving where you want to be.

Good luck!
0 votes Thank Flag Link Tue Sep 18, 2012
Hi! I would love to take a look at your home & do a value analysis for you. If you are interested, send me an email at Jill.Leaming@cbdsm.com or call me at 515-979-6791. I look forward to hearing from you!

Jill Leaming | Realtor®
Coldwell Banker Mid-America Group, Realtors®
A Chairman's Circle Company | LICENSED IN IOWA
8825 Northpark Court | Johnston, IA 50131-3018
BUS. 515-224-8723 | Cell 515-979-6791 | FAX 515-224-8744
Jill.Leaming@cbdsm.com | http://www.ColdwellBankerMAG.com
http://jillleamingrealtor.iow.mlxchange.com | http://www.facebook.com/jill.leaming.realtor
We Never Stop Moving!
0 votes Thank Flag Link Tue Sep 18, 2012
Hi Marta,

Good to know there is no "general rule of thumb" in real estate. Real estate value is determined by how many buyers and sellers there are in a marketplace. So, I would advise you meet with a Realtor and look at the current market stats and see where your home fits. That should help you determine what is the best choice for your family's future. I'd be happy to help.

Michelle Price, ABR, CRS
515-360-1014
Iowa Realty
http://www.MichellePrice.com
0 votes Thank Flag Link Tue Sep 18, 2012
Hi, Marta. Great questions. My advice would be to meet with a Realtor to discuss your options. It may not be as bad as you think and hopefully you would be able to resolve your circumstances. Let me know if you'd like my opinion. My number is 515-229-2012. Good luck, Heather
0 votes Thank Flag Link Tue Sep 18, 2012
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