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Main Points Related to Luxury Real Estate for Sale in Honduras

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Even in drab real estate markets, you’ll find that a house that sits empty is overpriced for the area. People sometimes take a long time to update their asking price to reflect changes in the value of their home. They are happy to accept that house prices rise, but when house prices fall, they make up excuses and refuse to acknowledge that the market for their home has dropped dramatically. It’s no secret that just as many houses sit on the market for an indefinite period of time with agents as they do with for sale by owner sellers.Do you want to learn more? Visit https://www.hondurasnews.com/njoi-trujillo-announces-luxury-real-estate-for-sale-in-honduras/

Naturally, when a non-sale occurs while under the control of an agent, people become depressed just as easily.  In my ten years of real estate experience, I’ve seen a wide range of people with a wide range of properties succeed and fail to sell their homes quickly. And the shape of the market, as well as whether or not their price reflected the market in their local area, has always been the common denominator for their relative success or failure. The amount of available real estate is mind-boggling, and the competition is fierce. According to market reports, approximately one-third of all property listings are foreclosures or bank repossessed properties. Banks reduce purchase prices to entice quick sales of foreclosed homes in order to liquidate them. Because they must pay commissions, homeowners who list real estate for sale through realtors often find it difficult to reduce their asking price. When a buyer uses a realtor other than the listing agent, the homeowner is frequently required to pay commissions to both agents in order to complete the transaction. This can add tens of thousands of dollars to their closing costs, reducing their overall profit. Sellers must contend with a plethora of discounted foreclosure properties in addition to realtor commissions. Despite the fact that most bank-owned properties require repairs or renovations, buyers can often get distressed properties for 20 to 30% less than a comparable home in good condition.

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