Tuesday, November 1, 2011

For Sale - Update

The winter months are approaching and home sale activity will decline.  I understand this better now - when it was warm, driving around and looking at houses was fun.  If I were still in the market today to buy a home, I'd be less enthusiastic.  With houses and lawns blanketed in snow, there's less to see.

I've read too that families look to move in the spring and summer so that their children can be settled and enrolled in their new school for the fall.

Our sale process has been moving slowly.  It took much longer than expected to get the listing up and we've had limited interest in seeing the house so far.

The housing market remains weak as I've detailed in other posts.  With mortgage rates low, it may be a very good time to buy.  As a seller though, your house is up against many others that have been on the market longer as well as short sales and foreclosures.

If you don't NEED to sell, maybe you shouldn't be trying to.

We are thinking about refinancing the mortgage to tap into the substantial equity.  This way, we'd have cash on hand to deal with any repairs or renovations necessary to help move the house.  As long as we can sell for a price above the new mortgage, it'd kind of be like a cash advance.


  1. Wait a minute. Didn't you just close on your house?

    I house hunted last Christmas during a BLIZZARD in NJ. We couldn't even see where the driveways were and had to park in the street with our flashers on.

  2. You are correct - my fiance and I did just buy a house.

    My brother and I are potentially selling a different house, which is the subject of this post.

    I should know a lot about both sides of the process by the end of all this!