Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

Tips On Pricing Your Home For Sale

by Luke Fields

Pricing a home for sale is a tricky thing to do, because there is no exact right answer. Instead, the decision depends on how you value certain factors. Here are some things to consider when you're pricing your home.

How Badly Do You Need to Sell?

First of all, your own motivations can affect whether you go low or high when pricing your home. If you need to sell soon because you want to buy other property or need to move, consider how much value there could be in lowering the price a few thousand dollars or making other concessions to your buyers. If you are still somewhat attached to your home and not in any hurry to move, there's no harm in pricing the home at a steep value and waiting to see if anyone is willing to pay the price; you can always lower it later if you become more eager to sell.

Are You Willing to Put Money Into the Home?

As they say, it takes money to make money. Doing little updates on your home, such as swapping out the finishes and adding a fresh coat of paint, can bring up the value greatly. But in some cases, you don't want to invest any more money than you've already sunk into your home, and that's understandable too.

What Is the Buyer Market Looking Like?

It's not just the attributes of your home that matter when choosing a price. It also depends on what kind of buyer market there is in your area. Are there a lot of people eager to get into your area, and are the prices of homes going steadily up? That's a great situation if you hope to sell your home for a good price. The pool of buyers can vary throughout the year, as well, with more people actively looking in the spring and summer due to the nice weather.

What Does a Real Estate Expert Say?

Finally, take the advice of a real estate broker or agent into heavy consideration. It's their job to price homes in the optimal way so that they sell quickly and/or have a great return in value for the seller. Going against the pricing advice of a real estate broker may cause your home to sit on the market for longer than you expect, or you might leave some money behind if you price under their suggestion or fail to get an appraisal at all.

Contact a company like Sea Pines Real Estate - The Cottage Group to learn more.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.