Many homeowners decide to sell their home without hiring a Realtor. Does listing your home with a real estate agent or listing it as a For Sale By Owner (FSBO) make more sense?
Well, the CALIFORNIA ASSOCIATION OF REALTORS believes that homesellers going the FSBO route will spend more time trying to make a sale, and end up with a lower selling price than if they had used a real estate agent — and they have some statistics to back them up.
Take a look at their infographic below, and if you are selling and would like a Realtor to do the job for you, give me a call! I’m here to help you get your home sold! John A Silva, (619) 890-3648
This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.
Finding out more about the taxes on selling a house
Selling a home is a major life change. No matter what your reason is for selling, selling the place you’ve called home is a big deal. One potentially confusing part of the process is figuring out the taxes on selling a house and how the sale will impact your finances for the years to come.
Will the next housing crisis be because of baby boomers?
In today’s housing environment, there are surprising factors that baby boomers, born between 1946-1964, will be three times more likely to be carrying mortgage debt as of 2015 at age 60 years or older compared to 1980 according to U.S Census Bureau Data stats.
As of 2016, there were 74 million baby boomers alive and by 2030, when all baby boomers will be between 66-84 years old, there will be 60 million predicted to be alive. So with interest rates changing from 3.41% in 2016 to 4.62% recently for 30-year fixed-rate mortgages — and affordable housing being eliminated due to higher pricing (and that the new Millennial Generation is beginning to buy) — the next generation of seniors will have to be more creative with housing. One creative approach to housing is by living in helper units on their children’s properties in the future, such as granny flats or casitas — or buying a smaller home in another area. Downsizing or staying in their current home becomes the daunting task and question.
Maximizing your current home’s value by preparing is essential; do so with your building contractor, financial planner, accountant and Real Estate Agent. I’m here to help recommend any of these people and more or get you a free analysis of your home’s value. You can reach me at JohnASilvaRE@gmail.com or 619-890-3648.
Los Angeles has had a 20% year-over-year increase for July, while San Diego is lower due to the size difference compared to LA. But the time may be now to rehash any questions, if you are on the fence about selling now.Whether you may have a financial burden or may be ready to cash out, I have options to maximize your situation. Message me today for a very short no-pressure consultation. 619-890-3648 or JohnASilvaRE@gmail.com.
Year after year, the statistics show that For Sale By Owners or FSBO’s make less money year after year after year than selling with a seasoned Real Estate Agent.
Nationwide the statistics are staggering. While being the average of selling for 20% less than a Real Estate Agent with the nationwide example from a recent article from Realtor.Org, it obviously doesn’t make sense to take this much of a loss. With the exception of FSBO selling to a close friend or family member for a discount based on property not being in good condition, this would be the only exception not to do anyone else favors.
For all you out there contemplating or in the process of selling on your own, this would be the single most valuable advice you could ever read.
For a free accurate evaluation of your home, I can be reached at 619-890–3648. Thank you! John A Silva, Berkshire Hathaway, San Diego, CA.