Selling Your Home, It’s a Business Decision

Blog Courtesy of Bobby Brandon, Broker/REALTOR® at Intracoastal Realty

Don’t Let Emotions Get in the Way!bobby-brandon-pp

When you purchased your home, you more than likely did so with lots of emotion, which is very normal. For example, you looked at homes with your real estate agent and narrowed it down to the two homes you like the best. Your kids probably ran through the house selecting which room would be theirs. You might have liked the backyard because that is where your family dog would get to play and be safe. You might have even like the kitchen space because it is large enough to have friends over and spend fun times together. Or this might have been the area of town that you had always wanted to live, etc.

These are all examples of emotions playing into the buying process. But now you are selling that same home. Once again, you are facing surfacing emotions. Hopefully, you have had a lot of great memories in the home you have spent so many years in and it might be a little hard for you to leave it. But a word of caution, when selling you should put your emotions to the side. It is now a business decision, and it all comes down to money.

Letting emotions get in the way is NOT a smart business decision. For example, you have negotiated with the buyer back and forth, and finally received the price you want. Now you and the buyer are fighting over the ten-year-old curtains in the home. You had it in your mind that you wanted to take the curtains with you, but this could be a deal breaker. As part of the negotiations, the buyer is asking for your grill, and you have your heels dug in NO. This minor conflict is the only thing that is stopping you from selling your home, obtaining the price you want and moving to the area in which you want to live. You could lose the entire deal over a $500 gas grill.

These are all examples of making an emotional decision verses a business decision. I have seen deals lost when emotions get in the way. I have seen deals go south over curtains and grills. Once the buyer has walked, the seller realizes what a bad decisions they have made and what it cost them in “winning the fight” (emotions). So remember, when selling, it’s all business!

For more information on buying and selling homes, go to www.BobbyBrandon.com. Bobby’s Team can provide expert advice and insight into current homes and land for sale in New Hanover, Brunswick, and Pender County.

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Infographic: Change In Home Sales By Price Range

Recently, this infographic was shared outlining the changes in year over year homes sales based on price range.

Change-In-Home-Sales-KCM

To highlight some of the data:

  • Home Sales are up year-over-year in the top 4 price ranges and only slightly below last year’s numbers in a fifth.
  • A lack of distressed property inventory has led to a slow down in sales in the under $100K price range.
  • As home prices continue to rise, there will be less homes available for sale in the lower ranges

This data was collected from NAR 1/2016 and reflects a comparison for home sales in 2015 nationally as prepared by the National Association of Realtors.

We compared these numbers to our local markets in New Hanover and Brunswick County and here is how our home prices measure up to the national averages.

For New Hanover County only, when comparing 1/1/14 through 12/31/14 to 1/1/15 through 12/31/15:

  • Home Sales are up year-over-year in all 5 price ranges, which is outperforming the national average.
  • For the $100-250K and $500-750K price ranges, home sales are seeing a double-digit percentage of increase
  • For the $250-500K and the $1M+ price ranges, home sales have increased more than 25% when compared to the prior year
Change in Home Sales By Price Range New Hanover

When comparing 1/1/14 through 12/31/14 to 1/1/15 through 12/31/15 for the entire region of WRAR (Wilmington Regional Association of Realtors):

  • Home Sales are up year-over-year in all 5 price ranges, which is outperforming the national average.
  • The $100K and under price range is showing the smallest increase with less than 1 percent.
  • For the $100-250K and $750-1M price ranges, home sales are seeing a double-digit percentage of increase.
  • For the $250-500K and the $500-750K price ranges, home sales have increased more than 20% when compared to the prior year.
  • In the $1M+ price range, home sales have increased greater than 30%
All of WRAR Change In Home Sales By Price Range Single Family Home 01.2016

When comparing 1/1/14 through 12/31/14 to 1/1/15 through 12/31/15 for the entire region of BCAR (Brunswick County Association of Realtors):

  • Home Sales are up year-over-year in all but one price range where the home sales price was under $100K
  • For the $100-250K and $500-750K price ranges, home sales are seeing a double-digit percentage of increase.
  • For the $250-500K and the $750-1M price ranges, home sales have increased greater than 30% when compared to the prior year.
  • In the $1M+ price range, home sales have increased greater than 120% over 2014.
Change in Home Sales By Price Range BCAR 1 2016