I often talk with frustrated home owners who have tried to sell their home but failed in their recent attempts. I am always amazed at the advice they have received from family, friends, co-workers, and yes, even from “real estate professionals.” So often, the advice is exactly opposite of what they need to do.
With that thought in mind, I thought I would recount an experience I had recently on a real estate forum. I had written an article about how interest rates were fueling this real estate market rally and then received a comment from a “Barbara” who wrote:
When buying “big ticket” items we believe that “Payment speaks louder than Price.” That’s why we advocate that Sellers price their homes aggressively then consider offering to discount the Buyer’s rate/payment at closing – especially- Temporary Interest Rate buydowns. This allows Buyers to comfortably and confidently ease into homeownership with substantially lower payments. The cost for the Seller is minimal in comparison to the upfront savings for the Buyer.
At face value, this might sound like great advice … But Beware, this advice could cost you the sale of your home! [click to continue…]
