How Bad Do You Need to Sell?

Question: I own a home with an appraised value of $368,000 and little left on the mortgage. Is now the time to sell or hold? An agent wants to list the home for $300,000.

Answer: Why do you want to sell? Is there some place you would like to move?

Do you have a surplus of cash? If not, and if the property is worth $368,000, why would you want to sell for $300,000? That's better than a 20 percent discount and you haven't even bargained with a buyer.

You need to speak with other brokers in your local community to determine a market value for the property -- have them each prepare a listing presentation for you. Then determine the pros and cons of a sale -- for you.