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Thursday, December 12, 2019

SELLING A HOME HAS ITS CHALLENGES


We’ve all heard of “buyer’s remorse,” but have you heard of “seller’s tears”?

More than a third of people who’ve sold their homes say they have shed tears over the experience.

A recent study of consumers’ ranked selling their properties as one of their most stressful life events—along with getting fired or planning a big wedding.

36% of sellers interviewed, admitted sobbing over the experience. One in five of the people surveyed said they cried five times or more while going through the process of selling their property.

 “If you’ve ever sold a home before, you know how daunting the process can be,” Zillow’s Jeremy Wacksman said in the report. “Anticipating that stress can be a huge obstacle that keeps homeowners from moving on to the next stage of their lives. Our survey found more Americans were stressed over selling their home than planning a wedding, getting fired or becoming a parent.”

What is this all about? Homeowners say that uncertainty about their home’s sale price, worries that the property wouldn’t sell and pressure to fix up the homes triggered the tears.  Neighbors, friends and relatives, trying to be “helpful” by giving advice, often only serves to add more stress to the situation.

Even though home prices in most neighborhoods have more than recovered from the 2008 crash, some sellers have high expectations, and when the market doesn’t seem to agree, and their real estate agent suggests a price adjustment, it becomes a source of consternation.

Since 60% of the folks Zillow talked to were also buying another property, buyer jitters added more stress to the already complex situation.
The important takeaway is to recognize that selling or buying a home is probably one of the largest financial transactions in most peoples’ lives – be prepared - it will be stressful.  Seller should avoid taking advice from well-meaning people who are not experts, and who are not familiar with their situation, and instead trust their professional advisors, stay focused and know that in time, all will be resolved.


Source:RISMedia,”Nothing to Cry About: More Than a Third of Home Sellers Get Weepy Over the Deal,” Steve Brown, 2019 The Dallas Morning News, Distributed by Tribune Content Agency, LLC


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