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17.  List it for 200% of it's true value. 

16.  List it as a four bedroom instead of a three.  When the buyers get there...  SURPRISE!  Only three!

15.  Paint the entire inside bright yellow with a Sponge Bob theme throughout.  

14.  Get three giant angry dogs and leave them loose during showings. 

13.  Require one full week's notice for showings.  

12.  Draw three outlines of bodies with police tape across them on the living room carpet.  

11.  Stay home for the showings and sing show tunes to the buyers and their agent the entire time they are there.  Remember to sing loudly and out of tune.

10.  Boil a few dozen eggs right before the showing so the entire house smells like farts.

9.  Have a bunch of friends over before the showing.  Have each of them hide in a closet and scream each time a buyer opens the closet door.  

8.  Put the wrong keys in the lock box.

7.  Stay home for the showing and follow the buyers around and tell them all the reasons you hate living there. 

6.  Do #7 again, but make sure you just ate something really garlicky and talk very close to them.  

5.  Leave a note on the table that says to be careful in bedroom four, but don't leave a reason why.  

4.  If it's during the summer, lay out during the showing wearing only a purple speedo and a swim cap.  Oh, make sure that you have your Def Leppard CD cranked up too.  

3.  Put up an old spooky picture on the fridge.  On a post-it note below it write:  RIP Aunt Mildred.  You will be missed when we finally move.  We hope you enjoy haunting the new owners for the next 150 years.  

2.  Leave a note for the buyers asking them to "please excuse the mess" in the attic.  Go on to explain just how hard it is to remove all of the black mold, but you're almost there.  

1.  Stay for the showing, put on your helmet made out of tin foil, and sit on the couch and stare at the TV the entire time without moving or blinking.  (The blinking part is very important!)

 

Okay, that's all I can think of today.  Hope you laughed.  Time to get back to work!

 Whether you are buying, selling, downsizing, or relocating to Fort Wayne...

THE CHRISTIANSEN TEAM CAN HELP!

260.704.0843 or JaredChristiansen@remax.net

WeSellFortWayne.com 

Deciding when to drop the listing price is difficult because it depends on the region and market.  There's no one formula that will work across the board.  However, there are guidelines that I think work in most situations.  Here are a few standards I think work everywhere...

When the feedback says "It's too high!"

If the agents and buyers are coming back with pricing suggestions or verbal offers, and those are in line with the comps your priced above, then you're priced to high.  That's the point you should drop the price.  Don't wait for "the perfect buyer" to come along - it'll never happen.  You'll increase the chances of a sale by dropping it immediately.

When you haven't had a showing in 30 days

With the exception of open houses, which don't count, if you haven't had a call to either preview with an agent or show a client, you need to drop the price.  Regardless of the price range, if you're not getting at least one showing a month, the price is too high.  If it's priced right, you should be getting a lot more showings.  How much to drop depends on the property but drop it enough to get showings.

When a similar property sells for less

If a property in the same market that is a good comp sells for less than your asking price, drop the list price to capture buyers who were looking at that other property. If you want a little negotiating room, fine, but come to within 2% of the other listing price as soon as that home goes to "pending sale" status.

When the last price drop was 90 or more days ago

If the last price reduction was 90 or more days ago and you don't have a serious buyer on the hook, drop the price.  Even if a buyer is considering the property, drop the price.  Dropping the price will engage more buyers and existing potential buyers will be motivated to write an offer before someone else does.  I've seen sellers sit on properties for months while potential buyers make up their mind.  The result:  wasted time and opportunities.

When you list with me, I'll work with you to price the home right to start.  However, if the price starts out higher, I'll walk you through all the data-driven rationale behind bringing your price down to get a buyer.

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 Bryan Robertson, Broker Associate | T: 650.799.9951 | Email: bryan@serenogroup.com | Website: http://www.BryanRobertsonHomes.com |CA License: 01191946 | Sereno Group - Los Altos branch | 369 S. San Antonio Road | Los Altos, CA 94022

 

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Recent Articles from Bryan's Blog

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Los Altos Neighborhood Tour - Rancho

The Definitive Guide to parks in Los Altos

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When advertising your listing ---- what words should you stay away from?

In a recent post on Active Rain, I noticed that the agent advertised the listing as “Walking distance to...”

It reminded me of certain rules in our MLS about certain words we should avoid.

Even Craigslist is very specific about their terms of use, their rules -- follow them or get flagged and have your post deleted, to wit:

CONDUCT  You agree not to post, email, or otherwise make available Content:

d) that violates the Fair Housing Act by stating, in any notice or ad for
the sale or rental of any dwelling, a discriminatory preference based on
race, color, national origin, religion, sex, familial status or handicap
(or violates any state or local law prohibiting discrimination on the
basis of these or other characteristics);

Our local MLS is very strict about observing these rules. It helps to have transaction coordinators and assistant to keep us straight. As such, we as agents have to be very creative when describing properties and their marketable features in our advertising materials --- on the MLS, in print, online, etc.

• Instead of saying “walking distance” say “near” or “close to” or even state measurable distance like “a hundred yards” or “quarter of a mile”
• We don’t say “family” but refer to them as “households”.  For example, we can lavish praise on a home, but never refer to it as a home for a “family”
• Even “in-law” units are described as “au pair” quarters
• We don’t mention children or parents …. but we work around that by mentioning  “playgrounds” or play areas
• We don’t mention school districts. Although we can mention a home is NEAR a certain school, we don’t say it’s IN that specific school district. To play safe, simply enter “Call School District”

 

P.S. I did what I thought was right by commenting on the poster's blog about what our own MLS rules prevent us from saying in our listings. My comment was immediately deleted by the poster. Must have been something I said. Oh well...

There must be other examples of what to avoid and how to get around them. If so, please share :)

 

When advertising your listing ---- what words should you stay away from?

Plastic Dryer Vents - A Fire Waiting for a Place to Happen...
          Plastic dryer venting has been banned from residential usage for several years now. However; I still run into this material from time-to-time in newer and older properties. This product is considered a fire safety hazard and should be replaced if you have this present in your home.
     Most households use flexible foil as the connector between the dryer and the exterior discharge. Although not much better than it's plastic counterpart, it has been approved for residential use by Fire Marshal's in many municipalities.
     Optimally, the better product is flexible aluminum cut to the shortest length possible and the best is rigid metal adapters connected to the dryer discharge and the vent. These are more difficult to install but are worth the cost and effort in the long run.
     If it has been more than 3 years since you cleaned your vents, consider doing so. Dryer lint builds up on the sides of the duct, and will reduce the efficiency of your unit. If the build-up is extreme, your dryer could burn out.

This posting and the contents herein are the intellectual property of Michael Thornton of Complete Home Inspections, Inc. providing home inspections for Brentwood, Nashville, Davidson and Williamson County TN. This post is a contribution to the ActiveRain Real Estate Network.

For all your inspection needs in the Brentwood, Franklin & Nashville TN real estate markets

Call us today:

Complete Home Inspections, inc.

The guys with the hats...

615.661.0297

Brentwood, TN

Scan the QR code below for business card info

 

Is now a good time to sell? Should I buy now or wait? How are you making it in this market? The list goes on and on and on.

I know that all the people currently in the real estate business have heard these questions and sometime they have felt like a barrage. I have really come to understand these questions a bit better in recent months. Not that I did not get them before, but the "tone" when asking them has changed and caused me stop and reflect.

It seems today that the fear and negative emotion is not as pervasive in the body language or voice. In fact, there seems to be a more focused sense of urgency in the actions of buyers and sellers. This was not, nor did it feel like, the case this time last year as we headed in to "moving season" which fires up each Spring.

The biggest change I see right now is a gradual return to that long-eye mentality. The quick-eye days of living somewhere for less than two years seem to be the exception these days rather than the norm. In fact, first-time buyers and/or newlyweds are looking 5-10 years down the road to make sure that not only the space will meet their needs, but the surrounding area for when they have kids in a few years. Ironically, this is the model that works and is more sustainable over time. How we got away from it is too long a story to tell, but a return to a goal-oriented, needs based model is quite encouraging.

There is also a high demand for what many of us call "A" space. That is, a move-in ready, I don't have to do anything to it right now property. Inventory is much lower than it has been in recent years. The rental market prices have either crossed, or are rapidly approaching, the tipping point where owning makes much more financial sense. All very encouraging signs.

Are we out of the woods? No. Could that light at the end of the tunnel not be a train? Yes. Bottom line, people still have to move for a variety of reasons. It is, however, real nice to be having conversations lately with buyers, and sellers in particular, who are not in as bad a shape as they feared. Let this trend continue, and we might just be able to call it the norm sooner rather than later.

Have a great weekend everybody.

John B. McKernan II - REALTOR®
Coldwell Banker Residential Brokerage
(d) 404.822.5235
(e) John.McKernan@coldwellbankeratlanta.com
(i) ColdwellBankerAtlanta.com/John.McKernan

"AS IS" home purchase . What buyers should know before writing the purchase agreement.

This is not legal advice and buyers should seek legal advice when purchasing a home. Laws may be different in different States Ask your Real estate agent to guide you about disclosure laws in the state.

Before making an offer on a home please know that when sellers say they are selling the home ' as is ' it does not mean that you cannot have a home inspection. In fact you should always have a home inspected by a quailfied home inspector.

The purpose of the home inspection is to find out about material defects . If it is going to cost too much to repair / replace items mentioned by the home inspector, based on the contingency clause in your agreement of sale, you can decide whether you want to purchase the home or not. When the seller is selling 'as is,'  it means that the seller is not going to do repairs. This is quite common in bank owned homes .

It is important to get a home inspection even when you are buying a home  'AS IS'

The sellers may have a number of reasons for selling 'AS IS.'

1. They may not have enough money to pay for repairs.

2.They may not know any handymen or contractors to get the work done.

3. They may be scared to have strangers come to the house to repair the items.

4.They may not want to be bothered with repairs and may not mind selling for less money. They may have listed accordingly.

5.It may be an inconvenience to repair or replace items that need it for a number of reasons including health issues, relocation etc.

If your contract states that you have the option to back out of the contract if you are not satisfied with the inspection report you can do so. You can also try to get the seller to credit you at settlement for  items mentioned in the inspection report.

In some instances the seller may be willing to adjust the price or give you credit at settlement.

Another misconception buyers have about AS IS sales is they think that they will get all the furniture in the house when they buy the house. Furniture is not part of real estate . Fixtures that are permanently installed are included but the furniture is not included unless it is mentioned in the mls and you should then  mention in the agreement of sale that it should be included. All inclusions and exclusions should be spelled out. It is common for washer, dryer and refrigerator to be negotiable items, because they are not permanently attached they are not  fixtures.

Also make sure you have a clause that says the place should be broom clean, There have been sellers who have left all the junk in the basement saying it was sold AS IS . You may have to buy a home in this condition  if it is a foreclosed hom.

It is important to work with a good buyer agent and a good attorney when buying a home.

Sellers should disclose known material defects even if they are selling AS IS. Check with your agent  or attorney about discosure laws.

 

 

 

 

 

Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com

She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email gita01@aol.com

 Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others  in my post and comments is not to be construed to be  legal advice.

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I drove by the home above (there is one farther back) a few months ago and it jogged my memory about a situation I encountered last year. I was showing homes to a first time buyer couple. They told me they preferred homes where there was no homeowner's association.  Since they were moving from a small apartment and would be spending money to furnish their new home they preferred not having the additional expense of HOA fees.

I drove up to a little Cape Cod with dormers, picket fence with roses, fireplace and an American flag. The interior was quaint with lots of cute nooks and crannies plus a built-in corner hutch in the dining room.  I knew they had fallen in love with it - they were holding hands as they took the tour

Once outside I noticed the homes in the immediate area were in good condition and well cared for.  However, I knew there are homes throughout the subdivision that do not show as well - it doesn't have an HOA

They asked to tour the neighborhood to "get a feel" for it. Of course, they commented on the  "cosmetically and physically challenged" homes a few blocks away.

After all

• The lack of an HOA set up the conditions for derelict houses in the subdivision
• one of the neat houses within eyesight of the home they were interested in could go "rogue"

There are many reasons people may prefer  a home without an HOA.  However, these were first time buyers with no experience.  They were looking to me for direction. What direction would you have recommended?

We knew we could not write a contract on the cape cod as there was a problem with the husband's VA eligibility due to a break in service. Time resolved that problem and we are now looking at homes that have an HOA

My husband and I have assisted many first time buyers during the 35 years we have been in the business.  We will counsel them thoroughly on the pros and cons of purchasing a home where there is no architectural or use control provided by a homeowner's association.  It is the type of counseling we would want a REALTOR® to give our first time buyer children if we were out of the area and unable to counsel them in the decision.

++++++++++++++++++++++++++++++++++++++++++++++
The Kruschkas are long term Prince William County residents with 35 years experience as real estate brokers serving Woodbridge, Manassas, Dumfries, Manassas Park, Bristow, Brentsville, Gainesville and Haymarket.

Experience Isn’t Expensive – It’s PRICELESS

If you plan to buy or sell a Prince William County home or property contact Karen and Art by Email or call us at 703-499-9279. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

WHY AN INDEPENDENT HOME INSPECTION IS IMPORTANT FOR NEW HOME CONSTRUCTION!
What about "soil settlement"??

We know why many new home buyers do not engage the services of a home inspector when purchasing new construction.  Some reasons we've heard include:

"The builder's sales person said I don't need a home inspector because the county inspects."
"I shouldn't have to spend that money."
"Everything is NEW and has the new home/appliance warranties."
"I don't want to spend the money."

New home buyers don't always understand that county inspections are primarily for safely and rarely identify poor construction techniques.

Inspired by an article by Jay Markanich  about a recent new construction home inspection.  Slip Joints Below Grade Are Leakers!  

HOME BUYERS SHOULD NOT WAIT FOR THE PRE-SETTLEMENT WALK-THROUGH TO HAVE THE HOME INSPECTED BY AN INDEPENDENT HOME INSPECTOR. 

Jay provides an excellent reason for new home buyers to employ the services of a knowledgeable and experienced home inspector during the construction phase of a new home and not wait for the "pre-settlement walk-through". 

In the case of the defects noted by Jay in his article, by avoiding the pre-drywall inspection, these defects and any defects that could have been hidden by the final layer of soil and final grading and sod or seed.  These defects would NOT have been discovered.

Jay also says, "and if there is soil settlement".   I would amend that statement to "WHEN THERE IS SOIL SETTLEMENT".  I view few homes more than a few short years old that do not exhibit some degree of soil settlement. 

FACT:  MANY NEW HOMES ARE CONSTRUCTED ON "FILL". 
FACT:  FILL WILL SETTLE.
FACT:  IN SOME AREAS, SINK HOLES ARE A HIGH RISK.
FACT:  THE EARTH MOVES!!!

MOUNDING of the home site is popular in many luxury and semi-luxury communities.  See below.

This home site has been "mounded" to about 5 feet above street level.  This grading practice provides a more attractive view of the home from the road and surrounding area.  With the exception of communities with hills or cliffs, in areas of level typography, mounding is very popular.  Builders use the dirt excavated for the basement foundation to mound the home site by 1-6 feet. 

Over the years, I've observed many homes where the contiguous surrounding soil has:
SUNK from 1-6 inches,
Pulled away from the foundation leaving gaps of 2-6 inches,
Developed sink holes in close proximity to the structure,

What can a home buyer do to persuade the builder that the final grading is insufficient?? 

USE THE SERVICES OF A COMPETENT AND EXPERIENCED HOME INSPECTOR who will put in writing these serious grading defects. 

While there is no inspection contingency in a new home contract, my experience is that builders are likely to make the corrections if they have a written report. The safest and easiest practice for a new home buyer is to engage a home inspection service in the beginning of the construction process so any defects can be identified while they are easily corrected. 

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

WE ARE BUYERS AGENTS IN LOUDOUN COUNTY VIRGINIA.  WE KNOW LOUDOUN COUNTY REAL ESTATE, NEW AND RESALES.  Our way of saying THANKS to our home buyers is a 1% Cash to You REBATE at settlement. 

WHEN EXPERIENCE COUNTS, home buyers will enjoy our many years of serving home buyers in Northern Virginia for over 25 years.  We provide buyers with . . .
* Comprehensive home searches,
* Personal tours of homes for sale,  
* Comparative Market Analysis for homes under consideration,
* Experienced financial analysis to help you understand different loan opportunities,
* Personally manage home inspections, termite inspections, settlement meetings,
AND MUCH, MUCH MORE.

           

Lenn Harley, Broker, Homefinders.com, 800-711-7988

HOMEFINDERS VIDEO 

For a tour of homes in your location of choice in Loudoun County, contact Homefinders.com.  We'll arrange a wonderful tour and you can get to know the county, shopping, recreation, the real estate market and the hardest working Buyer's Agents in the area. 

ASK ABOUT THE HOMEFINDERS.COM HOME BUYER'S REBATE OF 1% OF THE PURCHASE PRICE OF THE HOME YOU DECIDE TO BUY - ANYWHERE IN LOUDOUN COUNTY, VIRGINIA.

Lovettsville Homes and real estate
Loudoun County Homes and Real Estate
New Homes Loudoun County VA
Leesburg Real Estate

http://www.youtube.com/user/HomefindersRealtors

_______________________________________________________________________________________________________


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Everyone knows first impressions mean a lot. When it comes to selling your home the first thing potential buyers see is the front of your house. For some this begins at the curb and for others it's the front door. For this reason it is incredibly important to remember these areas when getting your house ready to sell.

In fact having a terrific entry is so important Anita Cooper of Realty Biz News recently listed replacing the front entry door as one of the top three home improvement projects which "mostly pay for themselves."

2 Reasons the front door is so important when selling your home.

1. Most home owners begin their search either by looking online themselves or reviewing listings online sent to them by their realtors. The thumbnail accompanying the listing is generally a shot of the front of the house with the focal point of the photo being the front door. If potential buyers are not impressed with this first photo they often won't bother to look at the home any further.
2. Potential buyers spend a good amount of time at the front door waiting for their realtor to open the lock box and unlock the door. This gives them ample time to notice even small things, such as peeling paint, a broken door bell or the worn finish of the door hardware. This was just the case with a home I recently staged in Leander, Texas. Take a look.

When potential buyers see neglected repairs such as a broken door bell or peeling paint they start wondering what else needs repaired. Even minor things such as these will have the buyer keeping a mental tally of how much less they plan to offer.

While replacing a front door may be the optimal solution it often doesn't fit into the budget. But there are plenty of other ways to add appeal to your entry.

How to stage your front door.

• Repaint. Paint is a home sellers best friend. It is inexpensive, DIY friendly and makes a huge difference.
• Add a potted plant or flowers.
• Change the door hardware.
• Put out a new welcome mat.

See what a difference these simple changes made to this front door.

First a complimentary shade of green paint was applied to the door along with a vining plant attached to a topiary trellace. Then door hardware was replaced with a new set in an oil rubbed bronze finish. Last a door mat was added.

Now that the home has a welcoming entry buyers will be imagining themselves welcoming their guests through the door. This is exactly what home staging is designed to do. Make potential buyers begin to see themselves living in your house. This helps them form an emotional attachment to the house and emotions equal offers.

I'm a Realtor, not a home builder, but I certainly have a base-line understanding of home construction. I have watched how homes go up, how they are inspected, and how they have fallen down, literally.

When buying a re-sale home there seems to be a no-brainer mentality of inspecting a home, great! But when it comes to digging deeper or going new, there is a HUGE green barrier, called the dollar.

In Texas, our Inspectors are Licensed Real Estate Inspectors, just like I am a Licensed Real Estate Broker, by the Texas Real Estate Commission.

TREC Licensed inspectors for San Antonio, Texas can be found at SATREI.com by company or by name. They are required to use a particular form that has a standard check list and rating system. Some use the triplicate NCR forms, but most today use software that generates a .pdf report with photos and drawings with commentaries about the findings. This is a nice feature especially with the finding is rather complicated to explain as well as proof of the problem.

This became importantly recently as we had been in a drought, so during a home production for a recent client, the windows were left open to air out the recently painted master bedroom. Nobody thought that leaving the windows cracked would be a problem with the 90 day drought. Then BAM! It poured! The windows were only cracked, but none-the-less the rain came and soaked the window frames, cabinet base boards, and the door jams.

My client went by to check on the house that day and it looked terrible (below).  The builder graciously repaired the issue by replacing all the drywall, and cabinets. But there was still considerable concern. 

Fortunately, I had an inspector with experience in Moisture Meter testing.  Using his handy dandy Moisture Meter, he tested and found it to be negative. 

 

There are so many things that can potentially go wrong with existing homes and new homes.  That is one of the reasons why I strongly recommend an inspection even with the most reputable of builders I like to say it like this, "Why would you buy a car without taking it to a mechanic?"

The moisture issue was resolved easily and and we closed with a short delay on their part due to the repair. The moisture test was done as a favor by a new inspector I recommended so he was happy to do it to earn repeat recommendations by me. Normally, however, to do a moisture test there is a sir charge of as much as $100 depending on the extent of the testing area.

I shared this story today to highlight a couple things.

1.  Inspections are an important part of the buying process. They are highly recommended to avoid future issues, even if warrantied by the builder, before they get their money. It is part of the negotiation process as much of the discovery can be either repaired or discounted to the buyer.

2.  There often is a need for additional inspections. Inspectors are more like a family doctor. If you were to have an irregular heart beat then you may want to see a heart specialist right? He does cost a bit extra since he's a not an inspector. He may be a roofer, a window installer, an electrician, or another contractor. But his specialized training makes him even more valuable. Don't let those extra fees stop you from hiring them when necessary. Time and time again I have seen or read something horrible that could have been prevented. 

3.  On the same topic, I also recommend an energy audit on older homes. Just because the current home owner has a electric bill of $200 doesn't mean yours will be that. What if they like it 76-78 in the summer and you like it 72-74? It could cost you $100 more per month. An energy audit will tell you how much leakage and where. It's something you should know as a buyer.

If you are a home buyer, please let me help you by showing quality San Antonio homes and providing reputable inspectors and contractors to ensure that you are buying a home in its very best condition, or at least you've been notified of any potential hazards within professional guidancee.

 

 

 

Thanks for reading my blog! 

I would love to assist you with the purchase or selling of your San Antonio, or surrounding area  Texas home.  Please contact me, CATHY BUREAU, GREEN Home Realty,  Realtor®.  I am ready to exceed your real estate needs!

 

CATHY BUREAU Broker/Owner

MBA, REALTOR, GREEN, SFR, ECOBROKER, SOLARAGENT

(210) 560-1891 Office

(210) 378-2489 Cell

www.GreenHomeRealtySA.com

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This is to advise you that you are using copyrighted and protected material on your website/blog. Your illegal use of any articles derived by Cathy Bureau or Green Home Realty. This is original content and I am the author and copyright holder. Use of copyright protected material without permission is illegal under copyright laws. You may print one copy for your own records not to be distributed without specific written permission. You may re-write the post to include excerpts with a link to the original content. You must credit the material specifically to me, as author, and my website.

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So much of the Mission Viejo Real Estate Market is short sales. In fact, all of Southern California seems to be listing short sales. It's a sad situation that those who purchased or refinanced during the "boom" period a few years ago now find themselves stuck when they need or want to move.

In an effort to help these short sale sellers as well as the housing market in general, Washington DC had passed the Mortgage Tax Relief Act. This included the provision in which the federal tax consequences were not applied for a period of time.

Did you know that normally the amount of debt forgiven on a mortgage would be considered ordinary income to the tax payer?

For example: If you owed $400,000 on a mortgage but could only sell it for $300,000 in a short sale, the difference ($100,000) would be added to your income.

You would pay tax on an extra $100,000!!!

Obviously the intent was to help those who were already struggling financially to avoid additional burden.

Once someone decides to sell a home in a short sale...typically the seller does not pay their mortgage any longer. (I'm not suggesting this, I'm not a CPA nor attorney and these decisions should be made with professional advice) The goal being to save for the next chapter of their lives. They also expect a long time frame for short sale approvals. This is in essence rent/mortgage free living.

Sometimes this is the only thing which allows the seller to save enough to move forward.

Adding to the normal length of short sale approval is the lack of motivation for the seller. They are living free at the moment, and the longer that lasts, the more they can save. Often they are also hoping for a child to finish a school year, or job offer to come through. This can make the showing availability very limited.  They lack a desire to show at all....let alone at inconvenient times. Embarrassment can also limit typical marketing activities, like a yard sign or open house. 

However.....if you have been considering a short sale in Mission Viejo, or anywhere in Southern California, this might be the time to act. As of now, the Mortgage Tax Relief Act expires in December, 2012. 

Maybe this seems like a long time away....but it's not. Most short sales go through a buyer or two and long approvals on each. There are many contributing factors; Buyers change their minds, the bank comes back with unrealistic approval price or terms, lack of attention from new buyers due to the length of time on the market, and some buyers will just avoid short sales altogether. Perhaps you don't need to list in January....but by March I would suggest some urgency, if you want to be safe.

Now maybe the Act will be extended, I know that would be a positive step for helping our market...and frankly, it's an election year. But if it's not...then closing January 1, 2013 vs December 31, 2012 could mean thousands of dollars of tax debt. Not a gamble I'd like to take.

If you are feeling that a short sale might be a good option.....talk to an agent. Get some information and direction. We can help....but don't come to us at the last minute, when it's too late.

 

 

 Karen Fiddler
Broker/Associate
The Fiddler Realty Team/eVantage Real Estate
Lic # 01494165

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Motivational Power Quote

 

When You Trip and Fall . . . .

“When you fall, don’t get up empty handed.”

Source Unknown      

 

 

As I see it . . . . . . .

 

When you trip and fall . . . .

 

When you trip and fall . . . . make the trip worthwhile and look for the gold nuggets.

 

It’s impossible to go through life without tripping and falling. They are just part of our life’s experiences and they can lead to personal growth.

 

Our life’s experiences offer an array of opportunity, when we look at them through a prism of a positive attitude. If you find yourself tripping and falling, pick yourself up and look for the gold nuggets.

 

Some of the gold nuggets will be easy to spot while others will take more personal reflection to see the value of the gold nuggets.

 

When you look at your life’s experiences with an open mind and with  a positive attitude your experiences will bring value into your life.

 

When you trip and fall . . . . pick yourself up, dust yourself off and look for the gold nuggets and you will find them.

©2012 Lou Ludwig, Sales and Management Consultant, Success Coach, Speaker, Trainer and Author

 

http://www.suffolkexperts.com 

Email: sheila@suffolkexperts.com

We are independent Licensed Realtors.

All The Info Is Not Guaranteed And Must Be Verified By The Prospective Buyer.

For the sake of Negotiating..... Lessons of Feet Dragging - yes, even in a Buyer's Market.

So, I've experienced the Lessons of Feet Dragging, Negotiating and Dragging just for the sake of Negotiating. It is not fun to witness buyers wanting to haggle just for the sake of haggling.

In the end, when the counter offer is not accepted and a new offer is introduced into the picture, it would be very disappointing when you lose the house, the house you've been talking about and the house you've been spending your time visualizing in.

So many times I wonder why buyers cant be serious? What could $2,000 mean in a $200K transaction or better yet, $2000 in a $500K transaction? Is it worth haggling?

ABSOLUTELY NOT! After evaluating the pros and cons of going back to the sellers for a tiny pricehaggle, in the grand scheme of things, it will not make a small pinch in the monthly payment,

WHY OH WHY DO YOU RISK ANOTHER OFFER COMING INTO THE PICTURE?

Do you know until it's signed and executed, you - the buyer is still vulnerable and that you have not secured anything yet.

And agents, don't come back to tell me how your clients will now pay the price they originally agreed on. It may be too late. The seller may have signed and executed the other offer. The seller may be upset about the haggle, the seller wants to deal with the other non-haggling buyer.

I've personally experienced 2 back-to-back negotiations where buyers lost because of Negotiation for the sake of Haggling.

 

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CALL TODAY (214) 783-2210 Loreena Yeo lives, plays and works in Frisco TX since 2000. Owner/ Broker of 3:16 team REALTY - a local Real Estate Company. Moving to Frisco TX? The UNOFFICIAL Ambassador of Frisco TX. Search Frisco TX homes now. Position you to become an informed, ready Frisco TX home buyer. Find out how Loreena sells homes in 1/3 of time than the average local Realtor®. Be an informed real estate consumer in Frisco TX. Read raving fans' reviews. Connect via Social Media:

Content & Photography Copyright © 2012 by Loreena Yeo (3:16 team REALTY)
For the Sake of Negotiating... Oh How Much Fun It Is to Ride