29th Apr, 2008

Taking a Loss in the Current Market

This Jonesboro Realtor has been in a quandary this week because of having to advise a seller to take a lower offer for their house than they wished. In this market it is important to hold onto a strong qualified buyer and that is what we decided to do. We figured the payments that would be made until it possibly closed at a later date and decided to be safe, to take a solid contract and cut the losses.  There are so many variances to ponder, in renting, which is an alternative but then you have to take into consideration the amount of updating the house will need in a year or two, the age of the appliances, etc. It might be more prudent to take the loss at this time, particularly for those families who have moved to other areas. After much discussion, it has to be up to the owner to make the call for none of us can forecast the future. It’s up for grabs as much as the presidential race seems to be! mlm

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