Real Estate Investment Expectation Vs Reality

Dated: 05/16/2017

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When to Sell

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…

Asking Price

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.

Home Search

You would think getting qualified and approved would 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…

Start your Connecticut Home Search now:

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Kris Morin

I was born and raised in West Hartford, spent most of my summers on the Connecticut shoreline and Block Island. I had found my love for real estate in 1990 assisting my mother, before launching my car....

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