Typically this term is used by big insurance companies that are paying off debts they have against their Real Estate holdings. Meaning by paying down the debts they are improving their equity position. For us regular people that can be difficult, there is another way…..through appreciation! Its true homes are getting more expensive and our homes are once again probably our best asset.
Here is a home I listed in March 2011 at the true bottom of the market. We had it listed for $629,000 and received several offers right away…….None were full price…The seller decided to delay their retirement and give it a shot in a couple years as it was clear that despite the strong interest we were able to garner the market would not bear the price they needed to make everything work.
Exactly two years later we listed the home for $649,000 and sold it full price with two offers in 24 hours! If your home is well located, well priced and properly exposed to the market it will sell quickly!
Joe Spanish is a second generation Realtor with Remax Equity Group that has helped hundreds of clients Buy a home in Portland and/or Sell a home in Portland. Joe’s business ranges from Luxury Homes to first time home buyers, New Construction Row Houses to Bank Owned foreclosures (REO). However you want to relocate in Portland Oregon, Joe and his Team are experienced and knowledgeable in local Real Estate in the Portland Metro area.