Home Selling in Corinth>Question Details

Charles Crum, Home Seller in Nashville, TN. and C...

Can you advise me on selling my house?

Asked by Charles Crum, Nashville, TN. and Corinth, MS. Wed Jul 30, 2008

I have a home in Alcorn County, MS. near Corinth sitting on 18 acres of land. Four years ago it appaised for 68,000(the house only). I owe 40,000 on this property. I have moved to Nashville and do not use this house anymore except for a weekend home. I am considering selling it. Should I wait until the market gets better? What would you estimate my house would appraise for now in today's market?

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4
Find an agent who can give you a report on sales that are comps to yours that sold in the past 3 months.
Don't wait on any market...the only market you are concerned with is the zip code of this house.
Web Reference: http://iansellsnola.com
0 votes Thank Flag Link Sun Aug 10, 2008
Charles
My first suggestion to you would be to call a local realtor that familar with your market area. Tell them your thinking of selling you home and would like a current market evaluation. The realtor in your area may already know someone that would love to purchase your property. Market are different all over the country. Take the steps to get a professional opinion. When you receive your information you can decide then whether or not to sell.
0 votes Thank Flag Link Mon Aug 4, 2008
Charles
I have a couple of recommendations for you:
First, I would interview a couple of Realtors to get their opinion of the current value. If you do not know of one I would be happy to refer you to one of the top Realtors in your area.
Second, I would ask them for any necessary repairs or maintenance that they think might help your property sell faster and for more money
Third, we do not know the future. All we know is the current market. Unless there are exceptional people with a crystal ball, I would take a good hard look at putting it on the market now. If you add in the carrying costs (mortgage, insurance, utilities, upkeep) I don't know that it would pencil out to hold it for long.

Good luck. See the link below for market info.
0 votes Thank Flag Link Wed Jul 30, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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You don't need to "wait until the market gets better" Just list with an experienced agent and be realistic about your expectations. Usually summer is a better time to sell. There may be something different about Alcorn Co., though. Do a little research and try to find out who is selling competetively in the market. Don't rely on who has the most advertising. Rely on who gives good service to clients. Consistency matters more than anything. Only someone in the immediate area can "estimate" what your house might be worth. Consider advice from a few different people. If you're not willing to put any money into the property for repairs or updates, be up front about that with your agent because they may need to disclose that to potential buyers and other agents.
0 votes Thank Flag Link Wed Jul 30, 2008
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