YOUR PLACE TO CALL HOME: Now more than ever you need a Realtor | Irvine Real Estate : Irvine Homes for Sale

by Robert Mack on December 6, 2010

in Latest News, Sellers

How tough can it be? All a Realtor does is put the listing on the Internet and stick a sign in the yard. You can do that and save a lot of money.

Several times during the past year, as my predecessors did before me, I have written about how important it is to have a Realtor by your side to sell or buy a home. A national survey of recent home buyers and sellers shows that home sellers across the nation agree in record numbers.

The 2010 National Association of Realtors Profile of Home Buyers and Sellers was released in November and contains abundant information about the real estate transaction. The survey found the number of homes sold by their owners on the open market without the assistance of a real estate professional dropped to a record low of just 5 percent of homes sold in this country.

Those homeowners who sold without professional assistance encountered several problems, according to the survey. The most difficult tasks they reported were getting the right price, preparing the home for sale and selling the home within the planned length of time.

They also reported that when they found a potential buyer, they had difficulty understanding and performing the necessary paperwork to complete the transaction. These difficulties probably contributed to a dramatic difference in sales price. The survey showed the median price obtained by sellers who used an agent was $199,300, versus $140,000 for a home sold directly by the owner.

The survey also showed home ownership remains a solid, long-term investment for the American family. Despite the recent price corrections, sellers who owned their homes for the typical period of eight years saw a 24 percent increase in their equity. Those that stayed in their homes for 11 to 15 years saw that equity rise to 40 percent. While sellers who purchased their homes in the last couple of years at the height of the market have been hurt by the recent market shifts, most homeowners are receiving a good return on their investment.

The current market has not changed the basics. The biggest reason cited by buyers in the survey for buying a home was simply “the desire to own a home of their own.” This was cited by 31 percent of the buyers and 53 percent of first-time buyers.

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Why is hiring the Mack Team and putting Robert Mack to work for you is more important now than ever before!

Posted on Irvine Orange County Real Estate Market News

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Post by Robert Mack

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