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Saturday, September 15, 2007

selling a house...

Questions for home owners who have sold a house...
How much cost is there involved from the seller's end?
Is it worthwhile to move to a bigger place, with a VERY low cost simply for resale value?
How do you know what your house is worth?

There's lots more where that came from. There is a house that is MASSIVE at the end of our block. It is well over twice the size of ours and the price the real estate guy said they'd take for it is only $10,000 more than the cost of our house (as listed on our property taxes.) So in theory, if we could sell our house for that price, we could own a much bigger, nicer one in our neighborhood for very little change in our mortgage payment. My concerns are many about this, but....I'm wanting to look simply at numbers right now. The bigger house is worth much more than the asking price, but it has been marked down significantly due to the amount of time it's been on the market. Is it wise to consider this? The real estate man has been bending my ear about it for a few weeks. That they could sell our house for us, enabling us to buy this larger one. (Yes, I know this contradicts the moving somewhere else in Texas, but we are pursuing all options at this point.) What do you think?
Oh, and by the way....this house is AMAZING! Never been lived in, brand new!

4 comments:

rdh97j said...

Not sure about the actual selling of a house, but check out Zillow.com for a price comparison on what your house is worth vs. what houses nearby are worth or have recently sold for. Some of the numbers are skewed, but you can get an idea...

Melanie said...

In my VERY limited knowledge of real estate: sounds like you may be moving OUT of house that would sell pretty easily (if this guy says he can sell yours- and he doesn't seem to be able to sell the bigger one) and INTO a house that won't sell? May not be a bad thing, but I would want to know why he can sell yours and not the bigger one.

Melanie said...

Oh, and... don't forget to factor in the cost difference in utilities and such- can be signicant in a 2-story sometimes. I'd like to see it! When are you coming to visit me?

stephen b said...

well, we just sold a house last christmas, and it is a pain. it took us a while, but they were still building in our neighorhood, so we had to compete with the builders. we ended up taking a hit on the house, but wanted out so bad it didn't matter. If you don't mind moving, and don't mind the pain associated with the process (3% on each purchase goes to the realtor, adds up to a lot), plus all the costs involved buying a new house (down payments, closing costs, inspections, warrantees, etc)it is a pain. just depends on how bad you want to move i guess.