Bethesda Estate Services Asserts That Estate Sales Can Help Recoup Cash Lost In Bidding Wars
Online, May 22, 2012 (Newswire.com) - A recent Wall Street Journal article indicated that more buyers are "bidding" for the same house because of supply shortages. Competitive bidding is not raking in a substantial profit for buyers or increasing selling prices, and actually, can hurt buyers financially. Bethesda Estate Services, an estate sales company, offers a solution to help sellers make money back lost in bidding wars.
Even though bidding wars are spurring selling prices, many homes are being sold at low prices - less than even a few years ago. Jeffrey Otteau, president of Otteau Valuation Group in New Jersey, said increased demand "is entirely affordability driven, which tells me there will be strong resistance to price increases."
Another factor is rental rates are increasing in an economy when mortgage rates have hit all-time lows. This means a monthly mortgage payment on a median-priced home is substantially less than during the 1990s. Freddie Mac reported that rates fell to 3.88 percent for the average 30-year fixed rate mortgage on Thursday. That's the lowest recorded level.
In Danville, Calif., Debbie and Bill Wetherell had almost 20 offers on their home in four days. The home went for $796,000, more than $50,000 above what the couple asked for the home. Although that sounds wonderful, that's still $180,000 below what the Wetherells paid for the home in 2005.
Of course, when selling a home, buyers want to make a profit. So when that profit does not come, it is frustrating and disappointing. Bethesda Estate Services suggests buyers try an estate sale, which can bring in thousands of dollars within days. Bethesda Estate Services helps sellers decide what items to keep and sale. Also, Bethesda Estate Services's experts determine the most profitable way to sell items. Some options include an antique dealer, reseller or private collector.
"For some lucky sellers, hosting an estate sale after the sale of their home can bring a several thousand dollar windfall on top of the sale of the home," said Brette Bates of Bethesda Estate Services. "In some cases, we bring up to $20,000 or more in additional funds to our clients who are downsizing....in one weekend!"
ABOUT:
Bethesda Estate Services offers a range of estate services to an array of clients downsizing or relocating to a senior living facility. Professionals do all the hard work for the client, from cleaning out the garage to setting up the estate or moving sale. Moving can be a stressful time, but Bethesda Estate Services ensures the process is nothing but smooth sailing for its clients. Insured by the Antiques and Collectibles National Association, Bethesda Estate Services offers free consultations and affordable rates. To learn more about Bethesda Estate Services, go to www.bethesdaestateservice.com.