People often think they can sell whenever they decide it’s time to move; they’re probably sitting on a fortune! But the truth is that 17% of sellers have to delay the process because their home value is less than their mortgage.
Time on Market
Most sellers expect to sell within two weeks of listing the residence and offering a showing or open house. Clearly this happens sometimes, because the median time is 4 weeks. This stat certainly isn’t terrible. But remember a third of homes sit on the market for 17 weeks or more. The longer a home sits on the market, the more likely the seller is to lower the listing price, which leads us to…
You know what a gem your house is, but not everyone else knows that. The average home sells for 97% of the asking price. 45% of sellers reduce their listing price at least once during the process.
You would think gettingqualified and approvedwould be the difficult part of buying a home. You would be wrong! Most buyers agree the hardest part of the buying process is finding the right home. This usually takes about ten weeks at about one showing per week.
Time in House
Now that you’ finally have the house of your dreams (and have gotten rid of the old one), you’d expect to stay there for at least twelve years, right? That’s what most people surveyed believe. But in 2014, the average seller was moving after only ten years in their previous real estate purchase.
Then it was time to start the whole process over again…
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When you start thinking about buying a house, it's easy to let your em
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