Quote:
Originally Posted by MandoMan
The market dropped a lot last October and hasn’t recovered, thanks to interest rates. I expected my house here to sell in days. A couple months earlier and it would have. Instead it took about four months, and I lowered the price $75,000. There were a lot of open houses. I didn’t like paying the agents around $30,000, but they worked hard for the money and did a lot of advertising. If I’d tried to do it myself, it might still be on the market. This is really not a good time to try to sell a house on your own. The other suggestions made here are good ones.
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Interest rates don't mean "that much" if you're looking for a retirement home in The Villages. Most sales are cash sales, with no mortgage involved. The only interest a buyer would worry about is the interest they're earning by keeping their money in the bank, rather than investing it in their new house.
The buyer would also be concerned about who's going to buy the house they're moving OUT of, because of the interest rates - since most people who are looking for "non-retirement" property do take a mortgage.
But folks who've been renting, and are now looking to buy a retirement home, don't have that problem at all.