of Lloydminster

Your Community Minded Realtors

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Office: 780-808-2700
Toll Free: 866-666-2700

RE/MAX Of Lloydminster
5726 - 44 Street
Lloydminster, AB
T9V 0B6

"each office independently owned and operated"

Timing the sale of your home is easier said than done. There are all sorts of factors to consider, from seasonal advantages to the economic climate of a particular region. And that's in addition to political and national issues that might affect your decision about when to sell.


Nevertheless, taking a strategic approach can shave weeks or months off the selling cycle. That is, if it's feasible for you to wait. In some cases, you may have to move immediately for personal reasons. A new job or divorce might overrule, and you'll be forced to enter the market ready or not.


But when time and circumstances are on your side, you may be able to command a higher price or make a quicker sale.


Traditionally, spring is considered prime selling season. This is the time of year when homes "show" the best, especially in cooler climates. The garden looks great, the weather is nice. Maybe it's spring fever that drives real estate activity during this time. But if the fever gets too high, it can spell trouble. The law of supply and demand can shift if too many properties come onto the market.


Depending on the geographic location, summer and winter are generally the slowest months, although these months often favor the seller in terms of supply. Conversely, fall is busy, but ushers in competition as buyers have more to homes choose from.


An experienced real estate professional can help you time the sale of your home based on factors affecting your region. But given the current real estate market nationwide, the advice will likely revolve around what's best for you personally as well as financially, especially if you live in an area with a glut of homes on the market.


The key question to ask is, "Why are you selling?" Depending on the answer to these two questions, you can better time your sale.


1. Do you need or want to get the maximum price? And if so, are you willing to keep your home on the market indefinitely?

2. Do you need or want to sell it quickly? If so, are you willing to sacrifice profits or even take a loss?


You'll probably fall somewhere in the middle, hoping for a fairly quick sale at the best possible price.


As you can see, timing a sale is complicated. But with sound advice and a little luck, you'll time it perfectly.

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Visit almost any financial site on the web, or watch nearly any daytime TV channel, and you're likely to see advertisements promising that a consolidation loan can solve all your debt problems. There's no doubt that consolidation can be an effective way out of financial difficulties, but there are very real dangers involved. Done badly, it can turn a poor situation into a disastrous one. If you want to enjoy the financial freedom that debt consolidation can bring, it's important to bear the following points in mind before committing yourself.

Can You Get a Low Enough Rate?

The basic idea behind debt consolidation is to rearrange your finances to make your monthly repayments more affordable, even if that means taking a lot longer to clear the debt. This relies mainly on obtaining a loan with a low enough interest rate to make it worthwhile. Unless taking out a new loan will significantly reduce your monthly expenses, it won't do anything to solve the underlying problem, even if it might temporarily stop the demands for repayment on your overdue accounts.


Are You Risking Your Home?

Wrapping up your unsecured debts into one bundle secured on property might be a quick way out of immediate difficulties, but if you get into trouble making your repayments, you risk losing your home to foreclosure. If debt consolidation is a response to a desperate situation, it might provide short-term relief, but only at the expense of delaying the problem with worse eventual consequences. Be sure you can fully afford your new loan before signing up, and don't rush into accepting a high-rate deal simply through desperation.


False Sense of Security

After paying off all your problem debts with your new loan, it can be tempting to see your situation as a clean slate. This isn't the case - you've not cleared any debt, just restructured it. If you then start to use your credit cards and other accounts to build up new debts, you'll likely end up in an even worse position than before. To avoid this, make sure you close your old, empty accounts, cut up your credit cards, and avoid all temptations to spend money that you can't afford to repay immediately.

In situations where debt is costing too much to be handled, consolidation can be an excellent tool for bringing your budget back under control. However, be sure to think carefully before heading down this path if you want to enjoy the benefits without risking disaster.


If you are looking to consolidate debt, contact me today to review your options.


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The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
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