We're getting close to the end of the year, which begs the question of whether it's worthwhile trying to sell your home now. Is it a waste of time? Will it sit on the market and become shopworn? Should I take my house off the market for the holidays? Will the home-sale market be better for sellers in 2012?
The first question you need to ask yourself is: Are you emotionally prepared to sell? Selling is a challenge for most sellers, although some markets are better than others. Unless you bought more than eight to 10 years ago and preserved your equity, you may not be able to sell for enough to pay off the mortgages secured against the property and the other costs of selling.
Many mistakes were made by homebuyers and sellers during the great housing bubble that burst in 2007. Today's buyers and homeowners can learn from these past mistakes.
Home prices went up for so long that most people believed that this time things were different. Previously, when prices rose for several years in a row, there was usually a correction in the market. In 2005 and 2006 when prices rose precipitously and buyers clambered to buy, it was thought that prices would never come down.
Prices don't just go up; they go up and down. This became abundantly apparent when the bubble burst and home prices subsequently dropped 30 percent between 2007 and 2011.
The Michigan Supreme Court has reversed an appeals court ruling that had sent shockwaves throughout the Michigan real estate industry for the last few months. The Michigan Supreme Court said Wednesday that it is legal for Mortgage Electronic Registration Systems to foreclose by advertisement when a loan is defaulted. In a 4-3 decision, the Supreme Court said MERS has a sufficient interest in the debt and, thus, acted properly under Michigan law.
JAKE'S BLOG
612 Laurel SE - East Grand Rapids, MI
Located in the heart of EGR, this home boasts over 4000 Sq feet of completely renovated living space! Outside you will find a professionally landscaped yard with walking path from your back yard to Wealthy Elementary!
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