Dallas
Selling Texas for 43 Years
214 503-8563
One of the unchangeable rules of real estate is this: Real estate is normally a poor short term investment, whether it is a home, a hotel or a commercial tract of land near the entrance to a major subdivision.
So in reality, buying real estate for the short term, whether planned or dictated by a life changing event, is enormously speculative. If for no other reason, to make a profit or even to break even, in addition to the net value at the time he purchased it, the prospective seller will have to recover:
- The closing costs of the person who sold the property to him
- The closing costs he incurred when he bought the property from the seller
- The closing costs he will incur when he sells the property to the next person
So in reality, that is normally a huge burden to overcome, a burden that must be completely overcome before the investor makes the first dime of return.
I point this out because this investment reality is what is causing the market to devaluate in areas where homes were overbuilt, and sold to those who, for whatever reason, could not continue the investment for at least five years.
If you, on the other hand, own a home in one of the "settled" neighborhoods within the inner-city of Dallas, and have owned it for a few years, your chances of being burdened by what's happening outside of those neighborhoods is remote.
Should you want to sell your home now, you can feel comfortable that choosing a real estate agent who has expertise in pricing and marketing homes in your neighborhood will bring you a quick sale and at an honorable price.
Throughout my more than forty years as a Realtor, I have specialized in listing and marketing homes. Call me if you think you may want to sell your home now. I'll be glad to tell you what you can expect your home to bring in price, and then you can decide which avenue to take. There's no charge for our visit.
GOD Blesses!
Copyright 2008 - William S. Cherry
Bill
Irt is a great time for both Sellers and Buyers.
Buyers have low rates and choices, and Sellers now have lenders allowing them to go to the discount window and getting money again.
Thanks for the great post!
Sincerely
Tom braatz