GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
The outcome can be rewarding, but recognizing and finding a great deal isnt always easy.
The median time homes sat on the market before being sold was 66 days.
That might not seem long until youre on either end of the transaction.
If youre selling property, this can give you perspective on what prospective buyers see when they come by.
Consider the propertys curb appeal, or how it looks from the outside.
Is the paint peeling?
Is the front yard well-maintained?
Buy With Your Heart, Not Your Head
If youre buying, you should consider your finances.
After all, you want to make an informed decision.
The last thing you want is to get saddled with a debt you cant afford.
But homeownership has a major emotional side.
Buy with your heart, not your head, Corcoran said in an interview with theToday Show.
If you want an investment, thats one thing.
But the most important question to ask yourself is, how long will it take you to break even?
Say you get a mortgage with 6.50% APR.
By this logic, you should only refinance if your new loans APR is 4.50% or lower.
This advice applies primarily to buyers looking to score a good deal.
Dont pay attention to asking prices at all, Corcoran said.
What people ask for has nothing to do with the value of a property.
Say the propertys listing price is $400,000.
If you think its worth less, try for a lower offer of $360,000.
Compare the property with others in the area to ensure you know its worth.
Themost influential factorin selling a home is always price, said Corcoran.
Dont build wiggle room into the asking price.
Theres a price war out there and you have to win it from the get-go.
See what sellers with similar properties price their homes at.
This will give you a better idea of what your property is worth.
More From GOBankingRates
Share This Article:
