by Cathy Glass
Two New Reasons to Sell Your House Now and Not Wait
5:47 pm in Home Sellers by Cathy Glass
There were two new news articles that show it would be a good idea to sell your house now, if you want to any time in the next few years. The first article is in the Business section in the Knoxville News-Sentinel, February 18, 2010 about how the Obama’s mortgage aid program has failed. Relatively few people have been able to refinance their mortgage to make the payments affordable. More and more people are just walking away from their homes and letting the bank foreclose. Those foreclosures are expected to continue rising. That will mean more competition and lower prices.
Cathy Glass, Realty Executives Associates, 865-693-3232, directly 865-384-8636, http://www.cathyglass.com
The other piece of news was in today’s NewsSentinel about the commercial real estate market. I have heard rumors since last September that the other shoe that will fall in the housing market will be the commercial real estate market. The loans for those are different, and they have to be reworked after a certain amount of time. Since the properties are overvalued, it is expected they will likely walk away, too. More jobs may be lost as the result, which will lower even more the pool of home buyers.
The good news is that it’s still a good time to sell (compared to what may be soon coming). I think there are a huge number of potential buyers who are still waiting to see what is going to happen next, and I think there is a way to sell your house that might excite the buyers.
