Posted by admin on December 30th, 2006
Compare apples to apples and don’t list too high
So you are going to put your house on the market next week. Don’t be in too big a rush. You might underprice your home.
Most sellers are more in danger of overpricing their home than underpricing it. Historically, that’s what many home owners do. They are overconfident. They let their home sit on the market for too long at too high a price and when they finally discover they have priced themselves out of the market, it’s almost too late. Their best remedy at that point is to take their home off the market and relist it a few weeks later. That’s not a good strategy.
Many are waiting until next week to list. I suggest you wait until January the 8th and be careful. Expect an increase of listings friday the 5th. A smart agent will encourage you to list that day and have you take the weekend off. One purpose is to see if you get multiple offers.
That’s a worthy suggestion. See what the competition is doing. Most likely, the other home owners will be overpriced. But don’t list your house at the same price as other houses on the market right now. Proper market research includes a comparative market analysis that goes back six months and looks at house within a few mile radius of your property and of similar size and with similar amenities. That way, you are comparing apples to apples.
See Also
- Price Your Home To Sell
Get a CMA before you list your house in order to prevent yourself from overpricing or underpricing your property.
Posted by admin on December 26th, 2006
It could also be an equally good time to sell
"Anyone buying a home and plans to stay there four or five years is just fine. A house is not a day-trading asset," said Leslie Appleton-Young in a forecast made to about 500 real estate agents and industry representatives last week at the JW Marriott Desert Springs Resort and Spa. The annual forecast event is sponsored by the California Desert Association of Realtors.
Now may be the best time to buy. If the market corrects itself then turns and heads south again, many people looking to buy real estate will be left out in the cold. You could see the market making its first correction. The next one very well could be the second leg of a downward trend - the longest leg in most technical analysis indicators.
While buyers can do well in this market, sellers can also do well. Whether you are buying or selling real estate, don’t go into transaction blind.
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Posted by admin on November 26th, 2006
Avoid this mistake by studying the market before you list your house
The biggest mistake sellers make is to overprice their home. Simply put, overpriced homes don’t sell.
If you’ve had you house on the market for 90 days or more and haven’t had any offers, there’s a good chance you my be overpriced. If you haven’t had so much as anyone come to look at the house, it likely is overpriced. Buyers will not waste their time to view a home that they perceive is overpriced before even looking at it.
Unfortunately, many sellers who try it on their own end up going to a real estate agent and they don’t have to. If their house doesn’t sell, they think it’s them. It could just be the price. Before rushing out and picking a real estate agent, doing comparative market analysis to see where market prices for similar homes to yours are. If you see a sizeable difference in price between your house and other that have sold in the last six months, then you’ve probably got your overpriced.
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Posted by admin on August 23rd, 2006
The news has been all around the states lately; the market is cooling down. Amidst all this talk, there is a spec of peculiar sales occuring in Goldem beach Florida.
A house is being sold by foreign investors for $26.6 million. For this property to sell at this price would increase there investment ten fold from when they bought it ten years ago. The seller, a person that can only be described as Delaware -registered. They Purhase the property in 1992 for $2.7Million.
This is actually a record for the area if the sale does pull through. This shows that the national trend does not define certain areas real estate market.
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