Kim Bass: Sellers Say They’re Confident—But Are They Really?

Monday, May 6, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
Lately I’ve talked a lot about the homebuying process, and with good reason. The spring/summer months are some of the busiest times to shop for a house. But there’s another equally important aspect to a real estate transaction, selling a home.

Selling a home is often the largest financial transaction a person will make, but that doesn’t mean homeowners want to devote a lot of time to it. More than half—58%—of homeowners who recently sold a home say they spent less than three hours researching the method and professional they chose to sell their home, according to a new survey of 1,000 homeowners conducted by SOLD.com.

A separate survey from the National Association of REALTORS® shows that 75% of recent sellers hired the first real estate professional they contacted to sell their home.

While sellers may have a limited search, that may be because they feel confident.
Ninety-four percent of homeowners say they feel confident about how to sell their home (with men more so at 73% versus 49% of women), the SOLD.com survey showed. But more than half concede they are unfamiliar with any options aside from a traditional real estate agent or for sale by owner in getting a home sold. 

Women surveyed tended to rely more on professional resources to sell their home while men were more inclined to speak with family and friends or do online research, the survey showed. Homeowners do still express plenty of concerns. The top concern they say they have for selling a home (by 43% of respondents) was “getting the home ready to sell,” such as with home renovations and repairs.

Many consumers also expressed some concerns over the emotional sides of selling a home. Twenty-seven percent said they had stress and anxiety about moving, and 21% said they were concerned about the financial implications of a move. The financial issues that weighted on homeowners the most included 28% who said they were concerned about coordinating the timing of selling and buying a home, and 27% were also concerned about the tax implications associated with the sale.

“These findings highlight the emotional component of selling a home, which can be just as important to people as the enormity of the financial elements of the transaction,” the study notes.


Kim Bass: April Housing Market Statistics

Downtown Living Tour Returns May 18

Bridges To Be Placed By Helicopter At The Course At McLemore On Tuesday


The warm weather is here, and homebuyers are returning in force this spring. For well-priced homes in desirable locations, the competition can be fierce. For much of the country, the first quarter ... (click for more)

A variety of Downtown Chattanooga apartment options will be available to tour and explore on Saturday, May 18, from 10 a.m.-4 p.m. for the second annual self-guided Explore Downtown Living Tour. ... (click for more)

The Course at McLemore on Lookout Mountain will have two bridges lowered into place, making the golf course even closer to completion. Helicopters from Air Crane Atlanta will carefully lift ... (click for more)


Real Estate

Kim Bass: April Housing Market Statistics

The warm weather is here, and homebuyers are returning in force this spring. For well-priced homes in desirable locations, the competition can be fierce. For much of the country, the first quarter of 2019 experienced less foot traffic, which impacted potential home sales. In some areas of the country low affordability, higher prices, and lower inventory situation contributed to ... (click for more)

Downtown Living Tour Returns May 18

A variety of Downtown Chattanooga apartment options will be available to tour and explore on Saturday, May 18, from 10 a.m.-4 p.m. for the second annual self-guided Explore Downtown Living Tour. Organized by River City Company and sponsored by FirstBank, 14 apartment developments will be open to those who have an interest in urban living or want a unique way to spend a Saturday ... (click for more)

Breaking News

4 People Shot At 2 Hixson Locations; 2 Killed On Ardis Lane; 2 Men Shot At Northgate Crossing Apartments In Hixson

Four men were shot in two overnight shootings in Hixson. Two people were shot and killed on Ardis Lane. At approximately 10:07 p.m., Chattanooga Police responded to the 6700 block of Ardis Lane on a report of persons shot. Upon arrival, police located two men suffering from gunshot wounds. Hamilton County EMS responded and pronounced Kirtus Thompson, 27, deceased on ... (click for more)

Greg Vital Says Ancient Stone Cairns, Part Trail Of Tears Route Found On His Meigs Farm; Asks TVA To Reroute Project Viper Transmission Line

Greg Vital, who is fighting to keep a major TVA transmission line from crossing his Meigs County farm, said a group of ancient stone cairns and a section of the Trail of Tears have been found on the farm. He is asking that TVA reroute the line that is being built to a new TVA power center. Mr. Vital said TVA located one of the cairns and agreed to move the line from it. But ... (click for more)

Opinion

Chattanooga's Shooting Epidemic

These shootings continue and something has to be done to try and stop them whether they are domestic, robbery or gang related. We obviously can not remove these handguns from every man, woman and child. I suggest that merchants that sell handguns raise the minimum age to 21 years for the purchase of handgun ammunition only. This 21 age requirement would not include ammunition ... (click for more)

Roy Exum: Alabama’s Flat-Out Wrong

Ever since Alabama Governor Kay Ivey signed into law the most nauseating abortion legislation in the history of the United States on Wednesday, I have tried to find a worse decision by the lawmakers in any state to equal such absurdity and I most certainly cannot. While I am confident those in the State house would have voted differently had each been asked, “What if it was your ... (click for more)