Home Selling in Knoxville>Question Details

Jan, Home Seller in Knoxville, TN

I have an old house. It is in fair condition. Is it a bad idea to put it on the market now? I want to sell

Asked by Jan, Knoxville, TN Fri Feb 13, 2009

it now but should I wait - and if so for how long?

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Jan,

Real Estate trends are regional, you should contact a local Realtor to get an idea on how your market is moving. They will be able to give you an idea of how comparable homes are selling around yours and allow you to make a more educated descision. I would also take in to account the 'Stimulus Bill' and what affect it will have on the housing market.

Jason Ewing, GRI/CNS
Coldwell BAnker Triad, Realtors
0 votes Thank Flag Link Fri Feb 13, 2009
Hi Jan. The time to sell your house is when you need to. If you are serious about selling it, you have got to get the price right. You can go to kgis.org and see what other homes in your neighborhood have sold for, or I can pull up a Comparative Market Analysis(CMA) for you if you would like some help. If you decide to go FSBO, be ready to offer a commission to a Buyer's Agent, because most folks who are REALLY serious about buying a home are working with a professional. If you are in a position where you may owe more than you could get from selling it, you can talk with your lender about the possibility of a short sale, which is where the bank is willing to take less than what is owed to avoid foreclosure proceedings. If that is the case, you can also look into renting the house out, as long as you do not have an FHA loan on it. Good luck, I hope this helps, and you can contact me if you have any other questions, 806-5559.
1 vote Thank Flag Link Mon Feb 16, 2009
I have investors who ARE buying older homes in fair condition at a good price. If you're serious about selling it will sell. I'm meeting one of my investors tomorrow. Give me some details & I'll talk to him about it.
1 vote Thank Flag Link Fri Feb 13, 2009
It's always a good time to list a house. There are many factors that you should think about.
How long have you owned your home and how much do you have invested? Are you in a city or rural area? Have you spoken to an ERA agent in Knoxville, TN or do you need a recommendation?
1 vote Thank Flag Link Fri Feb 13, 2009
Jan
In a buyer's market only the best homes sell because buyers can be choosy.

You should have a Realtor that knows your local market values and trends, your home, and your personal situation meet with you to analyze your situation. Only someone that has the facts should be advising you.

If you are thinking of selling, I would also go to some open houses and see what your competition might be like. It time is on your side now is a great time to start preparing your home for sale. HGTV.com has come great tips for home sellers. So does the Learning Channel and Discovery Channel.
0 votes Thank Flag Link Sat Feb 14, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Hi Jan and Happy Valentines Day! If you want to sell your property now it would be advisable to find a good experienced agent who will be able to give you and idea of how much you can expect if you sell your property in its current condition. They may also be able to give you some advise on some low or no costs things that you could do to the property to bring a better price. If you don't want the property it is best to sell it now as it will only require more repairs as it sits empy longer and reduce what a buyer might be willing to pay. Good luck. If I can help you further contact me anytime.
Web Reference: Http://www.brendajolly.net
0 votes Thank Flag Link Fri Feb 13, 2009
Hi Jan,

The age or condition of you house does not matter.
The condition of the market should be your main concern and it is not getting any better.
Now is the time to sell Jan no matter what the condition.
Price the property properly and get into action.
This declining market will only continue so if you wait chances are your property will be worth less.

All the best,
James Joseph

Feel free to go to my web site listed below for free advice on how to use the Internet to sell your property
0 votes Thank Flag Link Fri Feb 13, 2009
Hi Jan,

Where is your house located?

There were 208 houses that closed this January in Knoxville, compared to 289 January 2008. Not all sales have posted for January yet, but sales seem to be down. What I would recommend is having an agent help you determine what fair market value is for your home today. Then, you can decide if you want to sell in this market.

Personally, I've sold 3 of my listings this month (Feb) all within 96.2% of asking price. If I can help you further, feel free to contact me.

Adelina Rotar
Realty Executives

Sources: Knoxville Association of Realtors
Web Reference: http://www.RotarTeam.com
0 votes Thank Flag Link Fri Feb 13, 2009
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