Money Management

It’s good for a home to sell quickly. Read on to see what happens when your house doesn’t get much interest. 

If you’re looking to sell your home, your real estate agent will probably tell you that the goal is to have it sell quickly rather than sit on the market for too long. Recent data from HomeLight reveals that this past March, homes spent an average of 54 days on the market before going under contract. That’s up from a low of 30 days on the market, on average, in May of 2022.

Now, the number of days your home sits on the market will hinge on factors like the time of year you list it, the condition it’s in, and the price you’re trying to sell it for. The number of competing homes for sale in the area will also generally have an impact on how many days your home sits on the market. But you should know that the longer your home sits after being listed without someone who’s willing to buy the home, the less likely you are to walk away with your asking price.

Why more time on the market isn’t good

When a home continues to sit on the market, it’s an indication that buyers aren’t clamoring to purchase it. During periods when there’s more supply than demand, having a home sit on the market a little bit longer than usual isn’t always such a big deal. But when a home sits on the market for a long time during a seller’s market, it’s often a red flag.

RELATED: The Ascent’s Complete Guide to Mortgages

Right now, for example, housing inventory is low on a national level. And so if your home sits on the market for too long, it might send the message to prospective buyers that there’s something wrong with it. It could be priced too high or have problems that buyers won’t want to deal with.

How to get your home to sell more quickly

If you want to minimize the amount of time your home sits on the market for, you’ll want to do two things. First, you’ll want to address any obvious issues with your home. If your fence is crumbling, that’s something buyers are going to see the minute they pull up to your house, so spending some money to fix an issue like that could lead to a faster sale.

Along these lines, you may want to make a modest effort to update your home if it looks like it hasn’t been worked on for many decades. A few key touches could go a long way.

Next, you’ll need to make sure you’re pricing your home strategically and are asking for a reasonable number based on the size and condition of your home, your local market, and the general state of the housing market. Remember, mortgage rates are up these days. Home buyers aren’t able to spend as much on a mortgage loan as they perhaps could’ve in 2020 and 2021, when rates were lower. Be mindful of things like that to avoid having your home just sit and sit.

All told, it’s hard to predict how long your home will stay on the market upon listing it. But fixing your home up as necessary and pricing it right could help you avoid going weeks without an offer.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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The idea of having debt for life can be upsetting. Read on for ways to avoid that fate. 

Being in debt can be extremely stressful. This especially holds true if you’re having difficulty keeping up with your debt payments, or if they’re preventing you from meeting other important financial goals.

Recent data from Northwestern Mutual shows that U.S. consumers owe an average of $21,800 in non-mortgage debt. And while 49% expect to carry that debt for up to five years, 10% expect to be in debt for the rest of their lives.

That’s clearly not a good thing. So if you feel you’re doomed to a lifetime of debt, you should know that you may have more options than you think.

A change in habits could go a long way

Some people end up with debt not due to spending frivolously, but due to encountering unanticipated expenses that their savings account can’t handle. A good 7% of consumers, for example, are carrying medical debt, says Northwestern Mutual. That type of debt is often unavoidable. Similarly, you might land in debt due to an expensive home repair you can’t delay, for your own safety.

But you should know that you don’t have to resign yourself to carrying debt for the rest of your life. If you’re willing to reexamine your spending habits and make changes, you may find that you’re able to free up extra money each month for debt payoff purposes. And even if it’s only a small amount on a monthly basis, it could go a long way.

It pays to do a spending audit and see where your money has been going. You may not be able to get out of your $1,100 monthly mortgage payment or your $375 monthly car payment. But you can stop spending $150 a month on restaurant meals and takeout and instead cook more meals at home.

Consolidating your debt could make it less expensive

Northwestern Mutual reports that 28% of consumers owe money in credit card form. If that’s the sort of debt you have, it’s easy to see why you may be resigned to a lifetime of it. But things don’t have to be that way.

If you’re able to consolidate your credit card debt via a personal or home equity loan, you might lower the amount of interest you’re paying on it tremendously. And that alone could make it possible to shed that debt sooner.

Plus, when your debt is consolidated into a fixed loan, you get the benefit of predictable monthly payments. That could make your debt much easier to manage.

It’s easy enough to get trapped in a cycle of debt, but that’s not a good thing at all. It’s also not great for your mental health to imagine yourself paying off debt for the rest of your life. So if that’s the boat you’ve landed in, explore your options for making your debt less expensive. And, push yourself to make changes that allow you to free up more funds for debt payoff purposes on a regular basis.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Many Costco shoppers believe the retailer is sending signals that it’s about to remove the popular light beer from its shelves. Read on to learn more. 

Bud Light has been one of the most popular alcoholic beverages in the United States for many years, but sales have struggled in 2023. This has left many retailers with excess inventory, and several retailers have reportedly been selling the light beer at significant discounts.

However, there has been speculation recently that warehouse club giant Costco could be set to take a drastic step and remove Bud Light from its shelves altogether. On one hand, this could make sense as Costco certainly takes sales volume into account. And we know that sales of Bud Light fell by more than 31% year over year in the week ending June 24.

On the other hand, there are some conflicting reports. One consulting firm told Newsweek that it is “hard to believe any retailer” would voluntarily stop selling a product like Bud Light. After all, even after the product’s declining sales volume in recent months, it is still the number one selling beer in the United States so far in 2023.

So, is Costco getting ready to drop Bud Light from its shelves? Here’s what we know (and don’t know).

Is Costco sending a message about Bud Light?

Multiple reports have indicated that Costco could be signaling to customers that Bud Light’s days on its shelves are numbered. Several consumer websites have reported that an asterisk on a price label at Costco is a sign that the product is about to be dropped. Specifically, it is reported that it means a product will not be restocked once the current inventory sells out. Many even refer to this asterisk as the retailer’s “star of death.” If a product you like has it, it might be a good idea to break out your credit card and stock up before it’s gone.

Other reports have indicated that not only is the popular light beer labeled with the asterisk, but it is being sold at deeply discounted prices. One Twitter post showed a stack of Bud Light being sold for $14.97 for two 12-packs of cans, and it was labeled as Costco “practically giving away Bud Light.”

They have a point. A quick Google search shows 24-packs of Bud Light cans selling for $17.99 to $20.99 at the top 10 supermarkets and big-box retailers. Costco usually sells products for less than other retailers, but this is a pretty steep discount.

Additionally, Costco typically sells products with a $X.99 price, while many believe that price tags ending in unusual numbers — such as $14.97 — are yet another indication that the retailer could be pulling the plug on a product.

We don’t know anything for sure

To be sure, Costco hasn’t officially confirmed if the recently-spotted asterisks actually mean that it is dropping Bud Light from its shelves. Even if it does mean Bud Light is being removed from Costco shelves, it could be a temporary move. Or, Costco could simply have an excess of inventory due to slower-than-expected sales and has no plans to drop Bud Light at all. Alternatively, Costco could be dropping certain sizes or styles of Bud Light while keeping others. In fact, one widely-viewed Twitter post showed a $14.97 price for 24 cans, while another showed a more standard-looking price tag of $24.99 for 36 cans (still with an asterisk, though).

The point is that while there are definitely some signs that Costco may be trying to get rid of its remaining inventory of Bud Light, the popular beverage’s future at the warehouse club chain remains uncertain.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Matthew Frankel, CFP® has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Costco Wholesale. The Motley Fool has a disclosure policy.

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