selling home at a loss

9 Replies

The question is: Should I consider the realtors estimate, which is below Zillows!  Or should I relist it  next spring at a higher value. I am afraid the increase in interest rates are no helping.

I imagine the price next year is same. Put it on the market for 45 days. If there is no accepted offer take it off and try next year.

If it is rural with few high paid jobs nearby, the home prices will stay same. Grass Lake area as an example few people make a nice profit.

@Betty Klein Zillow's "Zestimates" are often horribly inaccurate.  Have your Realtor show you current "comps".  

These should be homes that are VERY similar to yours.  Preferably sold within 6 months and a half mile.  Identical number of beds and baths.  Very close in square feet of living area and acreage and condition.

The current market will tell you what the property is worth.  Zillow will probably get you within 20%.

@Betty Klein I'd call a few other realtors. When I listed my primary residence a few years ago, two agents wanted to list at $160-165k. I knew it was worth more based on recent sales in the neighborhood. They said it wouldn't sell for more. I called another agent recommended by someone my mom worked with and she walked in the door without me saying anything and suggested $195k. Had an offer accepted within a week.

The question is: Should I consider the realtors estimate, which is below Zillows!  Or should I relist it  next spring at a higher value. I am afraid the increase in interest rates are no helping.

If you can afford to hold onto it why not keep it and wait until spring? Maybe talk to a different realtor as well...

Why not tell us the address of your property, and what the realtor is recommending you list at, so we can give you an informed response?  Impossible to answer your question without this info.