A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.
In a recent blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:
A smaller home means less space, but it also means less time, stress and money spent on upkeep. Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years. Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate mortgage and put at least 10–20% down on your new home. Apply the $500 you saved from downsizing to your new monthly payment. At 3% interest, you could pay off a $200,000 mortgage in less...
Norris & Company Real Estate recently recognized their OCTOBER 2011 TOP PERFORMING ASSOCIATES.
DEBBIE BELL, GRETCHEN HANSON and BETH LIVERS attained the highest dollar volume of closed sales for the month. SHERRY BROWN accomplished the highest number of sales.
The highest dollar volume of new listings was achieved by CHIP LANDERS, LUCY HENDRICKS and the team of SUSAN HART AND RENEE NYQUIST-NORTHEN. Achieving the highest number of new listings was DEBBIE BELL, BRENDA DWIGHT and the team of SUSAN HART AND RENEE NYQUIST-NORTHEN.
Since 1974, Norris & Company Real Estate has been widely recognized as Vero Beach’s premier luxury real estate firm specializing in luxury waterfront, Intracoastal, and oceanfront homes, condominiums, and golf communities on Vero’s barrier island and throughout Indian River County.
Through their exclusive affiliations, sterling reputation and integrity, Gena Grove and Jane Schwiering along with 39 quality professionals and staff, have created the #1 real estate company in Vero Beach.
With over $2.5 billion in sales in the past decade, Norris & Company Real Estate’s platinum service, sophisticated global marketing, and technological advantages sets them apart from many larger companies in Indian River County and has earned them the distinction of being chosen as an Affiliate of both Christie’s International Real Estate and the Board of Regents for Who’s Who in Luxury Real Estate....
Did you know that over the course of the past year an average of only 6% of available single family homes in Indian River County have been sold in any given month? It's been said that preparing your home for sale is like preparing for a blind date. You want to smell good and look perfect! That being said, below are some things you can do to get your home in tip top shape and put yourself ahead of your competition.
1. It's all about the price!
This is a big one and sometimes a hard pill to swallow. First and foremost, you have to remove the emotion from the sale of your home. A Buyer is not attached to your "home". Until they buy it, it's just another house for sale.
Have your REALTOR® do a comparative market analysis of similar homes in your area that are currently on the market, under contract and that have sold. How much competition do you have? Is your asking price in line with others? If it is priced higher, does your home improvements, location, etc. warrant the increase? Do you need
to sell now? Discuss the findings of the analysis with your agent to determine if you need to make a price adjustment and to discuss your degree of motivation.
Have an appraisal done by...
Moving to a new home can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you’ve covered all the bases.
1. Plan ahead by organizing and budgeting.
Develop a master “to do” list so you won’t forget something critical on moving day, and create an estimate of moving costs. (A moving calculator
is available at REALTOR.com)
2. Sort and get rid of things you no longer want or need.
Have a garage sale, donate to a charity, or recycle.
3. Don’t throw out everything.
If your inclination is to just toss it, you're probably right. However, it's possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you’d feel if you no longer had it. That will eliminate regrets after the move.
4. Pack similar items together.
Put toys with toys, kitchen utensils with kitchen utensils. It will make your life easier when it's time to unpack.
5. Decide what, if anything, you plan to move on your own.
Precious items such as family photos, valuable breakables, or must-haves during the move should probably stay with you. Don't forget to keep a "necessities" bag with tissues, snacks, and other items you'll need that ...