{"id":3226,"date":"2017-04-10T20:41:21","date_gmt":"2017-04-10T20:41:21","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/sellers-avoid-the-downside-of-hot-markets\/"},"modified":"2017-04-10T20:41:21","modified_gmt":"2017-04-10T20:41:21","slug":"sellers-avoid-the-downside-of-hot-markets","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/sellers-avoid-the-downside-of-hot-markets\/","title":{"rendered":"Sellers: Avoid The Downside of Hot Markets"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"52\">\n<p>Are <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a> values on the rise in your neighborhood? Do you feel under siege from real estate professionals who have eager buyers interested in your property?<\/p>\n<p>Before you get swept away with the promise of a record sale price for your house, condominium unit, or recreational property, there is an important question to ask yourself:<\/p>\n<p><b>What <a href=\"https:\/\/amazingproperty.com.ng\/blog\/sell-your-home-online-fast\/\">housing<\/a> choices will I have after selling?<\/b><\/p>\n<p>When eager buyers out number listings, that&#8217;s a hot sellers&#8217; market. This buyer competition creates the best opportunity to cash in your real estate for big profit. Other bonuses include:\n\t\t\t\t<\/p>\n<ul>\n<li>Receiving an acceptable <a href=\"https:\/\/amazingproperty.com.ng\/blog\/tips-for-house-price-negotiation\/\">offer<\/a> in only a few days or weeks after <a href=\"https:\/\/amazingproperty.com.ng\/blog\/nigeria-property-center\/\">listing<\/a> puts less &#8220;keep the house perfect&#8221; strain on the family.<\/li>\n<p>&#13;<\/p>\n<li>Achieving your ideal closing and a sale price that is at or much higher than the listing price.<\/li>\n<p>&#13;<\/p>\n<li>Doing less to improve your property to sales-ready condition, which saves time and money.<\/li>\n<p>&#13;\n<\/ul>\n<p>Hot markets cool down, so sellers should not dawdle if they want to get the greatest return on their <a href=\"https:\/\/amazingproperty.com.ng\/blog\/create-a-real-estate-passive-income-stream\/\">real estate investment<\/a>. But that&#8217;s only half the project. If you want to stay in your neighborhood or move to a hotter one, you will benefit from key research and clear thinking before you cash in your property:<\/p>\n<ul readability=\"4.5\">\n<li><b>If you want to buy<\/b> in the same hot neighborhood you&#8217;re selling in, market research is essential. The price increase that you plan to benefit from will also increase the purchase price of the home you want to move to next. Could you end up spending most or all your newly-gained real estate profit to buy a lesser or smaller home? Or will a significant <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> be necessary?<\/li>\n<p>&#13;<\/p>\n<li><b>Purchasing in a peak market may not be the best strategy.<\/b> Real estate values can increase more quickly in some neighborhoods than others. Buying into one of these areas in a hot market may require more money or purchasing a property which requires modernizing renovations.<\/li>\n<p>&#13;<\/p>\n<li><b>Renting until the next market downturn is an option.<\/b> Liquidating real estate holdings \u2014 your house, condominium unit, recreational property \u2014 in a hot market and moving into rental accommodation until the next real estate dip can make good financial sense. Finding that ideal rental property \u2014 great location, reasonable rent, good amenities \u2014 may not be as easy as you expect. Hot real estate markets drive rental rates up, too. What if drastic compromises are necessary? How long can you comfortably live in rental housing waiting for the next market you can afford to buy into?<\/li>\n<p>&#13;<\/p>\n<li><b>Schools vary with location.<\/b> Is the temporary rental accommodation or your next buy within the catchment area of current or preferred schools?<\/li>\n<p>&#13;<\/p>\n<li><b>If the real estate market is tough<\/b> on your buying plans, your adult children may be having a tougher time. In the last century, children commonly moved into the family home when they married. Often the parents stayed on. This traditional pattern may make sense in a permanently hot neighborhood which your family values highly. Once you sell out of this location, could your adult children afford to buy into this prized area later?<\/li>\n<p>&#13;<\/p>\n<li><b>Rising real estate values mean increased realty or property tax and increased property <a class=\"wpil_keyword_link\" href=\"https:\/\/amazingproperty.com.ng\/blog\/what-us-insurance-companies-offer-the-best-workers-compensation-insurance\"   title=\"insurance\" data-wpil-keyword-link=\"linked\">insurance<\/a> costs<\/b>. Can you afford these higher carrying costs whether you don&#8217;t sell or if you sell and buy in the same area?<\/li>\n<p>&#13;<\/p>\n<li><b>Increasing real estate values attract developers<\/b> who want to build multiple units to reap this enhanced profit. Their activity changes neighborhoods \u2014 not always for the better. Ask local real estate professionals about planned and approved developments in the neighborhood. This information enables realistic projections which will help you decide whether the neighborhood might change so much you would not be happy there long-term.<\/li>\n<p>&#13;<\/p>\n<li readability=\"12\"><b>Investing the proceeds of the sale short-term, to be ready to jump into the next downturn, is not easy<\/b>. For instance, when you are ready to buy again, financial markets may be down and the investments may not be easily liquidated. Expert financial advice is essential to protect your\u00a0 capital and keep these <a href=\"https:\/\/amazingproperty.com.ng\/blog\/get-quick-loan-for-real-estate-investment\/\">funds<\/a> invested for your future.&#13;\n<p><b>Fear of considerations like these should not stop you from listing. <\/b><\/p>\n<p>&#13;<\/p>\n<p>Ignore these issues and wrong guesses and wrongly-deferred decisions may result. Research and professional expertise will clarify exactly what the risks are on all fronts and which you can live with.<\/p>\n<p>&#13;<\/p>\n<p>A real estate professional who knows you and your family priorities will help establish the best selling strategies and the need for additional information. You can then proceed with the most &#8220;livable&#8221; decisions.<\/p>\n<p>&#13;<\/p>\n<p>No one knows what the future holds, but you can make excellent strategic educated guesses.<\/p>\n<p>&#13;<\/p>\n<p><i>Heads Up!: The selling issues discussed here should be addressed by sellers in any situation or real estate market.<\/i><\/p>\n<p>&#13;\n<\/li>\n<p>&#13;\n<\/ul>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"http:\/\/realtytimes.com\/consumeradvice\/sellersadvice\/item\/1001328-20170411-sellers-avoid-the-downside-of-hot-markets?\"> link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are real estate values on the rise in your neighborhood? Do you feel under siege from &hellip; <a title=\"Sellers: Avoid The Downside of Hot Markets\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/sellers-avoid-the-downside-of-hot-markets\/\"><span class=\"screen-reader-text\">Sellers: Avoid The Downside of Hot Markets<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3227,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,1403,15239,1398,1399,12908,543,617,344,698,251,3058,408,41,818,84,116,2878,219,678,61],"class_list":["post-3226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-chase","tag-developers","tag-development","tag-home","tag-home-buying-guide","tag-house","tag-housing","tag-insurance","tag-local-real-estate","tag-location","tag-mortgage","tag-property","tag-real","tag-real-estate","tag-real-estate-investment","tag-real-estate-market","tag-realty","tag-rental","tag-seller"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/6258d3e593a4075ba11e13b22734e384_M.jpg?fit=300%2C213&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6740,"url":"https:\/\/amazingproperty.com.ng\/blog\/selling-half-the-winning-real-estate-strategy\/","url_meta":{"origin":3226,"position":0},"title":"Selling: Half The Winning Real Estate Strategy","author":"Amazing Property","date":"October 23, 2017","format":false,"excerpt":"Let's zero in on the family home to reveal room for improvement in ways this investment can be put to work when owners are intent on living full, active lives. Traditionally, when the children were grown and gone, \"empty-nester\" homeowners\/sellers were faced with two options regarding the family home: Option\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"67161833426412cd4360bd09267abc48 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/67161833426412cd4360bd09267abc48_S.jpg?fit=424%2C276&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3833,"url":"https:\/\/amazingproperty.com.ng\/blog\/is-this-the-best-sellers-market-ever\/","url_meta":{"origin":3226,"position":1},"title":"Is This the Best Seller&#039;s Market Ever?","author":"Amazing Property","date":"April 25, 2017","format":false,"excerpt":"The inventory squeeze has left home buyers with fewer options on the market than they've seen in decades. While that's bad news for them, the continuously high demand means it's one of the best times to be a seller\u2014ever. \"I've been selling real estate for 25 years, and this is\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1889,"url":"https:\/\/amazingproperty.com.ng\/blog\/in-luxury-more-sellers-become-the-tenant\/","url_meta":{"origin":3226,"position":2},"title":"In Luxury, More Sellers Become the Tenant","author":"Amazing Property","date":"March 13, 2017","format":false,"excerpt":"The practice of sellers renting back their home after the sale is increasing in a number of high-end markets, The Wall Street Journal reports. As housing supplies remain tight, some sellers are finding they may need some extra time to relocate. For home buyers, the deal may be appealing because\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6566,"url":"https:\/\/amazingproperty.com.ng\/blog\/why-buyers-wont-buy-your-home\/","url_meta":{"origin":3226,"position":3},"title":"Why Buyers Won&#039;t Buy Your Home","author":"Amazing Property","date":"October 9, 2017","format":false,"excerpt":"There's no list of reasons \u2014 no top ten or even top three reasons \u2014 why buyers won't buy a specific listed property like your home.\r \r There's just one reason.\r \r When buyers won't buy listed real estate, or even put in an offer close to asking price, there's\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1eb347c5364d8f2a063d2b1122e3fee4 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/1eb347c5364d8f2a063d2b1122e3fee4_S.jpg?fit=424%2C276&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":10433,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-1-real-estate-blog-in-nigeria-for-homeowners\/","url_meta":{"origin":3226,"position":4},"title":"#1 Real estate Blog in Nigeria , The Housing News Blog","author":"Amazing Property","date":"August 16, 2020","format":false,"excerpt":"Welcome to the housing news blog , your reliable real estate blog in nigeria , the source for all housing news . 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