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“Is now a good time to Sell my home?”

“Someone told me, being careless setting the Sale price of my home could cost me a lot of money in the long run.” Is this true? 

“I’ve talked to people and they’ve said getting a Real Estate person to sell your home is a big waste of money.  I think they’re right.  From what I see all they do is set a price, put a sign in the lawn an ad in the paper, MLS, internet and wait.  I can do all that and get on the internet through “I Sold My House.com and save some pretty serious money.”

“You said, setting the Sale price of my home is 1 of 2 critical factors in gaining the most from the sale of my home.  What is the 2^nd critical factor?”

“What low cost things can I do right now that will help me get the most amount of money for my home when I sell in the next few months?”

“What improvements can I make and enjoy now, that will also add value or speed the sale of my home when I eventually decide to sell?   How will these changes give me the best advantage when I negotiate with a Buyer?”                 

“Are there any tax consequences of selling my home at this time?”

 “What’s a1031exchange?  Can it benefit me when I sell a rental, investment or vacation property I own?”

“Can a Vacation home be a worthwhile purchase for me at this time?”

I like my home, “I’m thinking of refinancing for a lower interest rate.  Are there any other hidden cost?  Should I refinance for 20, 30 or 40 years?”   

“What things should I do or plan for that will allow me to stay in my home as long as I  want? 

 “What are my parents best housing options for their particular life style, at this time in their lives?”

 “What things do I need to consider when Estate planning with real estate for me or my parents?”

 
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“Is now a good time to Sell my home?”

Selling your home should never depend on what the current market is doing (speculation).  You should only put your home on the market when you have a good reason to sell.  There are only 4 good reasons to sell: Transferring out of the area, Retiring, Upgrading (can be either larger or smaller) or liquidating an Estate.

Selling a home using only the current market conditions as a reason to sell is a perfect formula for loosing $$ Thousands of $$ with real estate:

• In a market where values are increasing or decreasing, if a Buyer places an offer on your property, you will tend to negotiate aggressively seeking to get what you perceive is the absolute value you must have for the property.  We’ve seen too many instances where Sellers will actually lose money with this mindset.  With the attitude “I really don’t need to sell”  they will scare away good legitimate Buyers who present offers that are fair and in many instances the same Sellers wind up selling many months latter at prices below initial offers received..

Having a good reason based on a need to sell: relocating, moving to a larger home, moving to a smaller home or condo, selling an estate, etc. along with consideration for current market conditions will net you the most money:

• When a Buyer places an offer on your property, you naturally want to maximize your gain from a sale but you will negotiate with an attitude of how does my house compare to other competing homes currently for sale in the immediate area, is the offer fair and how can I negotiate a fair price.  The majority of Sellers using this strategy usually gain the most amount from the sale of the home and sell in the shortest time.

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“Someone told me, being careless setting the Sale price of my home could cost me a lot of money in the long run.”  Is this true? 

Pricing your home accurately, for the unique features it offers, current market conditions and competitive properties for sale is 1 of  2 critical factors necessary to gain the most from the sale of your home.

Most sellers believe the best way to gain the most $$$ dollars from the sale of their home is by setting the highest (tolerable and sometimes intolerable) Selling price, they think: If I’m too high,  I can always come down - if I price too low – I will be giving my money away!

Here’s how overpricing can cost you plenty:

• If the price of a home is set too high above what a good, current, accurate market analysis indicates – good buyers may never know about it and they will be lost.  This is especially true for good, serious, well qualified buyers.  Good buyers will always set an upper limit they will not go above.  Just being $10,000 above the limit they are willing to look at eliminates them from becoming aware that the property is for sale.  Sellers will say, but I’m willing to take less. The problem is the Buyer will never find out.

• “I can always come down but I can’t go up” is a great strategy to lose a lot of money.   Here’s how: Quite often, when a property is 1^st put on the market, Buyers who have not found a home with the features they are looking for will respond immediately to the new property.  If it’s what they’ve been looking for they will make an offer.  Remember, these are Buyers who’ve actually walked through and seen competitive properties and they usually have a good sense regarding current market value.  However if they feel the asking price is much higher than similar competing properties, they may submit a “low ball’ offer with the intent of negotiating with a limit they won’t go beyond.  Because the home was just put on the market the Seller will usually have a mind set “It’s early in the process so I really don’t need to take this offer seriously” and the Seller doesn’t negotiate with the attitude that they are working with “The Buyer” who can give them the greatest price for their home, usually resulting in an Offer that never reaches agreement.  We’ve found, the first Buyer who places a low offer and eventually negotiates to their highest price that is rejected by the Seller is usually the best offer the Seller will ever receive during the entire sales process.

• Gradually reducing the price is another great way to lose money.  Follow the logic:  The Seller sets the price way to high and then begins to slowly reduce the price to try to increase Buyer activity on the home.  While the Seller is doing this, other seller’s of competing properties are doing the same thing.  They are all coming down at the same time so there is no advantage to any of them. They’ve all stayed the same.  Sellers with this mind set are “following the market” and they are all losing money big time.  A better strategy is to price the home a little below the competition, instead of following the market you will be ahead of it and the competition, selling your property faster and with a greater profit.

If you are really concerned about: “If I price too low – I’ll be giving my money away!” 

• Our experience shows us this is pretty difficult to do if the property is exposed to the entire market place.  If you think the price is too low,  you could state in the exclusive right to sell agreement : the Seller will review all submitted offers after the property has been on the market for 7 days (or whatever you feel comfortable with). 

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“I’ve talked to people and they’ve said getting a Real Estate person to sell your home is a big waste of money.  I think they’re right.  From what I see all they do is set a price, put a sign in the lawn an ad in the paper, MLS, internet and wait.  I can do all that and get on the internet through “I Sold My House.com and save some pretty serious money.”

If this is your perception of a real estate person, you’re right and you should do the job yourself.

If you think your perception may be off the mark, consider these questions and thoughts:

• How will you determine the correct selling price to market your property for?
• What preparations should be done before putting your home on the market?
• Is property on septic?  If so what preparations are needed?
• Who is your target market?
  ·          What is the message you will send to your target?
  ·          What are all the media you will you use?
  
  
• What will your Buyer marketing packet look like?
  ·          What are the special features all Buyers need to be aware of?
  
  
• How will Buyers contact you to see the home?
• When will Buyers be allowed to see the home?
• How will you show the home to the Buyers – follow them around?
• How would they make an offer?
• How will you know if the Buyers are qualified?
• How will you handle the negotiation process?
• How will you handle a home inspection and any defects that are revealed?
• Who will prepare the Purchase and Sale Agreement?
• Who will hold the deposits?
• Who will follow through with the Buyers loan & transaction closing process?
• If you use I Sold My House.com are you aware that before any addresses are given out they require all potential buyer to register with them.  They are directly affiliated with East West Mortgage Co. and feed these leads to them to generate mortgages. Isn’t possible there are many Buyers who would be just right for your home but refuse to give out their email address because they don’t want to add more spam into their lives?

When the sale of my home is complete, will I be able to say “It was the best decision I ever made!”