Help with the sale of their home.
The real estate market remains stagnant in many parts of the country. Help your parents evaluate the market. Use a Realtor to learn the selling price of comparably priced homes in the area.
Experts say the current real estate cycle is not likely to change in the near term or within the time frame of your parents’ decision-making process. We’re not expected to see inflated 2006 prices for a long time. At today’s market prices, your parents probably still have a sizable profit in the value of their house.
A correctly priced home in good condition will sell. An overpriced home will remain on the market and will usually bring less than one competitively priced. But maintaining a house is expensive. As well, if the home is too large with lots of unused space, it may no longer represent a sound investment. Is it wise for your parents to speculate on the market by holding on? These are questions that must be considered.