Sellers

Selling a Home
Setting the Listing Price
Using Comparable Sales
Considering a Short Sale
Short Sale Myths

Selling a Home

If you are thinking of selling your home, chances are you're caught up in a mass of emotions. You may be looking forward to moving up to a new home or facing the uncertainty of a major move across country. You may be reluctant to leave your memories behind or eager to start new and exciting adventures. Remember, we're here to help you with any of your needs. Call or email us today!

Setting the Listing Price

In setting the list price for your home, you should be aware of a buyer’s frame of mind. Based on a list of houses for sale in your neighborhood (which can be in the form of a printed list from us, or online search results that you’ve found yourself), buyers will determine which houses they want to view. Consider the following pricing factors:

If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than others in the area. You may have told your REALTOR to "Bring me any offer. Frankly, I’d take less." But in that list of houses, yours simply looks too expensive to be considered.
If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but before it has time to find the buyer who would have paid more.

NOTE: Never say "asking" price, which implies you don't expect to get it.
To determine the proper list price, contact me today and I'll provide you with the following professional services:

Furnishing comparable sales.
Analyzing market conditions.
Helping to determine offering incentives.
Estimating your net proceeds.

Using Comparable Sales

No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market. Your best guide is a record of what the buying public has been willing to pay in the past few months for property in your neighborhood like yours.
Also we can furnish data on sale figures for those "comps", and analyze them for a suggested listing price. The decision about how much to ask, though, is always yours. The list of comparable sales we bring to you, along with data about other houses in your neighborhood presently on the market, is used for a "Comparative Market Analysis (CMA)." To help in estimating a possible sale price for your house, the analysis will also include data on nearby houses that failed to sell in the past few months, along with their list prices.

This CMA differs from a formal appraisal in several ways. One major difference is that an appraisal will be based only on past sales. In addition, an appraisal is done for a fee while the CMA is provided by us and may include properties currently listed for sale and those currently pending sale.

In the normal home sale, a CMA is probably enough to let you set a proper price. A formal written appraisal (which may cost a few hundred dollars) can be useful if you have unique property, if there hasn't been much activity in your area recently, if co-owners disagree about price, and any other circumstance that makes it difficult to put a value on your home.

Considering a Shortsale

As a homeowner considering a short sale, it is important you understand the process. Following are some of the most common mistakes agents and homeowners make when handling a short sale.

Your Property is Priced Incorrectly
Your Short Sale Proposal is Incomplete
There has been Inadequate Follow-up and Communication
Not Enough Time
Your Deal is Not Submitted Properly
The Buyer’s Offer is Too Low
The Buyer’s Contract is Not Strong Enough

Short Sale Myths

A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs.

Myth #1 –
The Bank Would Rather Foreclose than Bother with a Short Sale
Myth #2 –
You Must Be Behind on Your Mortgage to Negotiate a Short Sale
Myth #3 –
There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure
Myth #4 –
Listing My Home as a Short Sale is an Embarrassment
Myth #5 –
Short Sales are Impossible and Never Get Approved
Myth #6 –
Banks are Waiting on a Bailout and Not Accepting Short Sales
Myth #7 –
Buyers are Not Interested in Short Sale Properties