Learn To Read Listings For Happy House Hunting

Sorting through classified ads, online real estate sites and even real estate listings on company web sites can be difficult. It's often hard to tell from an ad if the home you're reading about is the one of your dreams. Unless you intend to visit every possible listing, you have to weed out some possibilities to help guide your hunt for the perfect home. Learning how to read home listings to match your needs can really help.

The key to using listings to your advantage is to have a clearly defined idea of what you're looking for. You need to know what you want in a dream home before you can find one. The same can be said for a starter home or even a mid-stop point along the way to the dream home.

Before you start pouring through the listings in just about any community in the world, you need to do a few things:

1.) The first place to start is to know where you want to live. Be realistic here. If you're budget's a shoestring, don't pick the "best" neighborhood in the city. If you're moving to a location you're unfamiliar with, talk to real estate agents, research neighborhoods, check crime stats, school information and so on for different areas. Once you have a neighborhood or several neighborhoods selected, you can move on. 2.) Now you need to set your budget. What can you afford? Are you pre-qualified for a loan of a set amount? Many banks and mortgage companies offer pre-qualification. This is a great way to ensure you search for only those homes you can afford to buy. This can help ease disappointment and really guide a search, too. 3.) Specifics about a home. How many bedrooms do you need? Bathrooms? Do you require any special features such as a pool, eat-in-kitchen and so on? List these down on a piece of paper. Prioritize features based on must-haves and those you could live without.

Now that you know where you want to live, how much you can spend and the kind of house you'd like to have and the one you'd love to have, those listings will be a whole lot easier to sort through. Read through the listings in the areas you're seeking to buy and jot down the homes that match your qualifications or come close. These are the homes you're likely to want to visit.

Get with your real estate agent or call the lister's agent to get started. Remember when you check out the homes for real to bring your want/need list along with you. Try to find the home that matches your list most closely, but pay close attention as you walk through homes. Look for anything that may be a problem in the future and ask a lot of questions about the home and the neighborhood.

Home listings can be a great resource for finding your ideal home, but in a lot of areas they can be so extensive they overwhelm potential buyers. The best way to make sure you get the home of your dreams, or close to it, is to know what you're looking for.

Find homes fast.

http://www.homesfindit.com
Townhouses and rentals.

http://www.townhouseandrentals.com

10 Steps to Getting Top Dollar for Your Home

When you decide to sell your home you should immediately begin referring to it as a house. You've become emotionally attached to this place and it's now time to say goodbye. Start detaching yourself by making some changes that will help you with the sale of the house.

You probably have accumulated a lot of clutter over the years. This must be the first step.

1. Unclutter your home. Start in the basement and either throw things out or rent a locker off premises to store it until you move but prospective buyers need to see what the house looks like behind all your stuff. This means going room to room and clearing everything out that makes it look junkie and disorganized.

2. Neutralize the personal nature of your home. You may love the native tapestry on the living room wall from Bora Bora but I'll guarantee 95% of your prospects will have it on their mind when they leave your home and not in a good way. Knick knacks and generally all things that you've previously enjoyed should be stored away until after the sale, that includes grandma's spoon collection that takes up half a wall in the kitchen. Replace these things with neutral items like picture frames or vase with a simple arrangement.

3. Minor cosmetic work. Once you remove the clutter you will see all the things that you've been meaning to get to over the years. Painting where necessary, new carpet/s, moldings repaired, cracked plaster and re-taping/ repairing drywall. When making these improvements think neutral colors for any coverings be it paint or carpets. If you have hardwood floors sand them and finish them. Area rugs can look amazing. Whatever you do, don't over do it. Try and think like a buyer.

4. Hire a professional cleaner. Once you have the house cleared you should hire a professional cleaning crew to wash the walls, windows, work over the kitchen and bathrooms, clean the floors and shampoo all carpets that don't need to be replaced. Your house should be spotless and kept this way for the duration.

5. Staging each room. If your rooms are smaller rearrange the furniture to make the room look bigger. For example removing some furniture is better than having too much cramped in. Set your furniture up in conversation pit style. Like a gourmet coffee house, make it cozy. Pull couches away from walls to give the appearance of depth. Remove wall clutter, one or two pictures but no more. Generally make it look inviting.

6. Kitchen and bathrooms. These are the most important rooms in your home to a buyer. Make sure they are impeccable. Plumbing fixtures should be working properly and look like new or they should be replaced. Use a good cleaner or even a metal polish to make them gleam. Showers and tubs need to be spotless! Sinks and vanities need to be pristine and uncluttered. Kitchen cupboards should be orderly, doors opening and closing properly, drawers the same. I can't stress enough how important these two rooms are to your potential outcome.

7. Doors and windows. First thing prospects see when they walk in your home is a door. Make sure its painted or cleaned up and that it will open and close properly. This goes for screen doors as well. Often screen doors are a problem people let go. Not anymore. Windows should all be cleaned and be sure if someone wants to open them that they work properly. If they have been painted closed as is the case with some older homes, now is the time to get them to open. Do whatever it takes.

8. Garages and workshops. These are the second most important areas. Again remove all clutter from the garage and make it accessible so you can actually park your car in it! As for the workshop, try and organize it so the handy person prospect will appreciate what they can do with their "new shop" when they move in. It's all about your prospect picturing themselves in your house.

9. Family effort. Everyone in your family needs to be on board with the presentation of the house. This means your kids need to buy into the project and keep their rooms tidy. Bribe them if you need to but everyone has to help maintain the appearance of the entire house.

10. Odors and pets. Wow, is this ever important. If you have pets only you really love them. When you walk into a house with dogs or cats you immediately smell them, especially if you don't have your own. Keep litter boxes fresh and clean daily. Restrict your animals if at all possible to certain areas of the home until after the sale. Vinegar and water will do wonders when you clean their areas every other day until the sale is complete, and top it off with effective air fresheners wherever you need them. Vacuum often with carpet fresh powders two or 3 times a week.

This sounds like quite a bit of work and it is. Try and remember that by following these tips you could easily add five to ten thousand dollars to the sale price of your home, maybe more. A little elbow grease now will be a solid investment.

The Author is the President/CEO of http://www.realestatemate.com, www.homeheap.com and www.agentsmate.com . He has over 26 years experience in the real estate industry.

Cash Saving Mortgage Tips & The Mortgage Crunching Secret Weapon Banks Don't Want You To Know

Buying a house is a great long term investment. If you've never had a mortgage payment it simply means you'll have to be more careful regarding the management of your finances. The first step before venturing into a mortgage if you’re not already in one is to consider your financial situation. Then decide to buy a home where the mortgage and down payments are according to your financial situation so that you can enjoy life and have a roof over your head at the same time. If you have no idea what your monthly budget can afford then you should take some advice from a finance professional first.

Regardless of your situation here are several ways to reduce your monthly mortgage payments:

• As interest rates keep on changing you should keep track of changes and consider refinancing at the right time. This would reduce your expenditures. Do the calculations to know your savings after paying costs and other expenditures.

• Find out which bank offers the lowest homeowner insurance rates. You might be able to reduce either your insurance or tax payments.

• Check your calculations properly and regularly to make sure that all adjustments are made correctly, even though it's a bank sometime they make mistakes.

• Choose a mortgage that offers flexibility. You want a mortgage that allows you to pay in an easy way according to your earnings.

• Consider biweekly payments or accelerated equity plans. This will give you an additional payment each year and begins to reduce your mortgage quickly right from the start.

• Try short term loans or variable interest.

• Consolidate all your loans into a single one with lower payments. Make a table and analyze all your loans; education, car, home and bank loans for example. Study your expenditures. Try to consult a mortgage specialist, ask him about consolidations and how much it can reduce your monthly payments.

And last but not least, the mortgage crunching secret weapon:

• Change a short term mortgage into a long term mortgage - go for a 30 mortgage. This will allow you to pay lower monthly payments which will lower the amount of interest you pay. Now, check with your bank for their rules and regulations but the next step is to pay way more each payment than the minimum payment. Each time you do this you'll be smacking down the cash on the principle of your mortgage. This is the big mortgage early payout secret and it's been known in many cases to eat a mortgage really easily in under 10 years.

A mortgage or home loan is a long term debt but it doesn't have to be a burden. You are advised to pay it off as soon as possible but arrange your budgets tactfully by keeping an eye on insurance, loan disbursements and their interest rates. Enjoy your new home; hopefully with a few of these tips it will be all yours sooner than the banks desire. If it's paid for it's yours, if it's a loan or mortgage it's still theirs in my opinion.

Submitted by Chad McDonald for real estate investors looking for property management in Phoenix or searching online for Phoenix property management information.

Purchase Agreement Clauses That Save Your Butt

The real estate purchase agreement is more than just a casual offer. The moment you and the seller sign it, it is a legally binding contract. Since you can put what you want in your offer, why not include some of the clauses that smart buyers use to protect themselves and save money? Some suggestions follow.

Six Purchase Agreement Clauses

A better earnest money clause. You can put a small earnest money deposit down and still be taken seriously, if you include a clause like this: "$100 earnest money deposit, to be increased to $2,000 upon acceptance of this offer." You could also have it increased "when all contingencies are met." This way, if there's an argument about you backing out because the inspector found foundation damage, for example, you won't have your money tied up while this is being resolved.

Inspection contingencies. Ask an agent about the wording, but basically you want something like this in the purchase agreement: "Contingent upon a home inspection and buyer's approval of the results; inspection to be done at buyer's expense within ten days." Now you the right to have an inspection done, and if anything negative is found, you can refuse to "approve" of the results, and get your deposit back, or you could re-negotiate a lower price.

Assignation. If buying with a partner who isn't there to sign the offer, or if you want to "flip" the deal to another investor, or if you may need to involve a partner for purposes of funding the deal, be sure that the purchase offer gives you that right. Putting "and/or assigns" after your name on the offer is usually sufficient, but ask the real estate agent what the local custom or language is. This lets you add another buyer to the deal, or assign the whole contract to another.

Let the seller pay. Specify that the seller pays for the closing fee, the title insurance, the recording fees, and even the points on your loan. Sellers often just want the sale at a given price, and don't care about the details. What if they do care? You have given yourself some negotiating points. Get something for dropping each of the costs you included, like maybe a reduced interest rate if the seller is financing part of your purchase.

Basic financing contingencies. Suppose the loan doesn't come through, and you can't buy the home. You'll lose your deposit, unless you have something like this in the agreement: "Subject to buyer obtaining a firm commitment for suitable financing within ten days." If the seller balks at the vague language, you can specify what "suitable" means in terms of interest rate and such.

Spouse's approval clause. This could be as simple as "Subject to a walk through inspection and approval of home by wife (or partner - state their name) within two days." Now, if your wife says no within two days, you can back out of the deal and get your deposit back. If you want the seller to agree to this one keep the time frame as short as you can.

The above clauses are often called "weasel clauses," because they give you ways to back out, or "weasel out" of a real estate agreement. Don't worry about the label. A seller has the right to say no to your offer in any case. You, on the other hand, have the right to use these purchase agreement clauses to protect yourself.

Steve Gillman has invested in real estate for years. Learn more about purchase agreements, get a free real estate investing course, and see a photo of a beautiful house he and his wife bought for $17,500, at http://www.HousesUnderFiftyThousand.com

Mortgage Loan – Should You Pay Points?

If you are in the process of shopping for a mortgage you may wonder about paying points. Many people will tell you to avoid paying points at all costs. Are there any advantages to paying points? Here is all you need to know about paying points on your mortgage loan.

Points, often referred to as discount points, are a fee you pay the lender upfront in exchange for a lower interest rate. One point is equal to one percent of the total loan value. Lenders require people to pay points based on their application status. Mortgage lenders all have different criteria for evaluating your application; however, your loan to value ratio, credit score, and down payment all affect whether or not the lender will require points for your loan.

There are situations where paying points can benefit you. If you have good credit and money in the bank, you can use points to negotiate for better terms on your loan. Most mortgage lenders discount your interest rate in exchange for points. By paying this fee upfront you will pay less in interest over the life of the loan. If you plan on staying in your home you can recoup this expense over the long run.

When you are shopping for mortgages carefully examine how the points you pay reduce the interest rate, and how much it lowers your monthly payment amount. By plugging this information into a mortgage calculator you can see how much you will save in interest over the life of your loan.

Using points to your advantage is a smart way to buy down the interest rate your lender charges you. This will save you interest payments over the life of the loan and has a side benefit of being a tax deductible.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

St Louis Mortgage Refinance

Louie Latour is a mortgage professional and the owner of RefiAdvisor.com, a mortgage resource site offering a free gift for homeowners: "Mortgage Refinance - What You Need to Know." This guidebook helps homeowners avoid common mortgage mistakes and predatory lending practices.

Claim your free guidebook today at: http://www.refiadvisor.com

What are Structured Settlements

When someone has won a structured settlement that has arisen from a lawsuit, they expect they will have to wait a year or more just to receive the money, this is not true. There are many companies available to you that exist to purchase your settlement from you. These types of companies will pay you cash in exchange for the structured settlement or any portions of your periodic settlement that is remaining. What does this mean for you? Well this essentially means that you will receive a lump sum payment from the company who will purchase your structured settlement and have the ability to use it for anything they desire rather it be paying for college, purchasing a new home, paying off debts, investing into the future, anything you desire.

Generally, a structured settlement is the result of a lawsuit, this is an agreement made between you and the responsible party that you will accept specified payments from them in a specified period of time, as a result you will release them of any liability named in your lawsuit. There are a variety of payment methods you can choose from such as annual installments that come over several years or in payouts that come every few years. Other types of structured settlements include winnings from situations where the awards are of a substantial amount such as contests or lotteries.

Structured settlements are tax-free and used to provide financial security over the long term; however, many people choose to sell their settlement in order to gain the money right away. You have many options when it comes to selling your settlement, you can sell as little or as much as you want and fits your needs and wants. This is an option that many people take advantage of when they have receive a structured settlement of any type. They often like the advantage of having all the monies right away instead of having to wait years and years, which could hinder any plans of purchasing large ticket items such a home. Sometimes the payments will not be large enough to make any sort of significant investment without the need of saving for several years. This is where selling your structured settlement to a reputable company that has a high track record and solid integrity will do some good.

Jeff Lakie is a contributing author at our website where You can get a free Secured Loans Quote right now. Take a moment and see for yourself.

Purchase Agreement Clauses That Save Your Butt

The real estate purchase agreement is more than just a casual offer. The moment you and the seller sign it, it is a legally binding contract. Since you can put what you want in your offer, why not include some of the clauses that smart buyers use to protect themselves and save money? Some suggestions follow.

Six Purchase Agreement Clauses

A better earnest money clause. You can put a small earnest money deposit down and still be taken seriously, if you include a clause like this: "$100 earnest money deposit, to be increased to $2,000 upon acceptance of this offer." You could also have it increased "when all contingencies are met." This way, if there's an argument about you backing out because the inspector found foundation damage, for example, you won't have your money tied up while this is being resolved.

Inspection contingencies. Ask an agent about the wording, but basically you want something like this in the purchase agreement: "Contingent upon a home inspection and buyer's approval of the results; inspection to be done at buyer's expense within ten days." Now you the right to have an inspection done, and if anything negative is found, you can refuse to "approve" of the results, and get your deposit back, or you could re-negotiate a lower price.

Assignation. If buying with a partner who isn't there to sign the offer, or if you want to "flip" the deal to another investor, or if you may need to involve a partner for purposes of funding the deal, be sure that the purchase offer gives you that right. Putting "and/or assigns" after your name on the offer is usually sufficient, but ask the real estate agent what the local custom or language is. This lets you add another buyer to the deal, or assign the whole contract to another.

Let the seller pay. Specify that the seller pays for the closing fee, the title insurance, the recording fees, and even the points on your loan. Sellers often just want the sale at a given price, and don't care about the details. What if they do care? You have given yourself some negotiating points. Get something for dropping each of the costs you included, like maybe a reduced interest rate if the seller is financing part of your purchase.

Basic financing contingencies. Suppose the loan doesn't come through, and you can't buy the home. You'll lose your deposit, unless you have something like this in the agreement: "Subject to buyer obtaining a firm commitment for suitable financing within ten days." If the seller balks at the vague language, you can specify what "suitable" means in terms of interest rate and such.

Spouse's approval clause. This could be as simple as "Subject to a walk through inspection and approval of home by wife (or partner - state their name) within two days." Now, if your wife says no within two days, you can back out of the deal and get your deposit back. If you want the seller to agree to this one keep the time frame as short as you can.

The above clauses are often called "weasel clauses," because they give you ways to back out, or "weasel out" of a real estate agreement. Don't worry about the label. A seller has the right to say no to your offer in any case. You, on the other hand, have the right to use these purchase agreement clauses to protect yourself.

Steve Gillman has invested in real estate for years. Learn more about purchase agreements, get a free real estate investing course, and see a photo of a beautiful house he and his wife bought for $17,500, at http://www.HousesUnderFiftyThousand.com

Buying Dirt Cheap Seized Properties From Government Auctions

After criminals are apprehended, their personal properties and goods acquired from ill-gotten money are seized by the law enforcement agencies. These goods are also termed government seized properties. After some time when these goods or properties reach a certain threshold, they are sold to the public through an auction. At these government seized property auctions, the goods can be various kinds as following:

VEHICLES: These form the most common type of government seized properties. SUV's, pick-up trucks, luxury cars, motorcycles and amazingly even boats and airplanes could be available at an auction. You can get real beauties at good bargains, since vehicle value and condition can be assessed easily. It is important to check for other liabilities on the vehicles (ex: liens) before bidding.

REAL ESTATE: Even the small criminal or the biggest dons around need a roof on their heads. The most expensive category of government seized properties is real estate. It could be ready homes, vacant land, holiday cottages, mansions or suburban houses. Commercial real estate is also available in the form of car dealerships, ranches, retail outlets, restaurants or hotels etc. Both forms of government seized properties are available at a value far below the market rates and can be a very good bargain.

HOUSEHOLD GOODS: Criminals have been known to have better standards of living than most average people. On apprehension and seizure of their properties, it is evident that they also have household goods and furniture that have been seized. Government seized property auctions consist of an array of household goods that can be had for pennies in place of dollars.

FINE ART/ ANTIQUES: Goods like Chippendale furniture, Tiffany glass, paintings, sculptures, rugs etc are also available at government seized property auctions for far less that one could imagine. These fine art pieces become affordable that could otherwise blow a hole in the pocket.

CLOTHES AND JEWELRY: Designer suits and customized jewellery, once adorned by criminals and gotten by ill-gotten means can now be had from government seized auctions at fabulous throw away prices. Brands like Versace, Cartier, Vera Wang, Nautica, Tiffany, Bulgari can now be acquired at rock bottom prices from government seized property auctions.

Going to an auction does not really hurt, does it? Visit a government seized property auction to find out how crime pays for you. Check out local newspapers for announcements of dates and venues and please acquire a list of items in the auction with description to help yourself.

For listings of government seized property auctions, please visit http://www.seized-and-unclaimed-property-auctions.info/

Three Ways For Buying Foreclosed Real Estate

The process of mortgage foreclosure presents three good opportunities for investment - Default/Pre-Foreclosure, Auction/Sale and the REO.

Buying Default/Pre-Foreclosures

The process of buying pre-foreclosures involves a direct interaction with homeowner and the lender. The objective here is to make the homeowner win by selling and win yourself by buying the property at a discount.

The whole deal as outlined above could be a great investing opportunity, but, timing and procedure is everything. You could discount the market value on closure anywhere up to 35% on an average. If you act in time and structure the deal properly, you may even get away with a small down payment. The ale agreements can also be tailored to your advantage by keeping them unique and flexible.

The other side could be that the owner is not available to deal. A lot of competition is out there looking to cut you down. Research in the court could be confusing and take up valuable time. Negotiations with lien holders are not ruled out.

Well, you are out there to make a nice and tidy profit and these small encumbrances would not really hurt.

Auction Buying

Buying foreclosed real estate in a court auction could be the most rewarding and the most risky at the same time. The bidding normally involves biding against the lender and other competition. The process of auction is a very fast and normally requires payment in cash within 24-48 hours.

You could get good to excellent discounts and get a wonderful return on investment in the end. By far the best investment, if you do not consider the time wasted on postponed auctions, expensive title searches and risks of improper research.

Buying REO's

The easiest way to buying foreclosed real estate is buying REO's (real estate owned). An REO is a category of property where the lender repossesses the property to cut losses and wants to dispose it off for cash, since the lender is not in the real estate business.

The lender is the only lien holder, 90% of the time which means that the REO will have a clear title (saves a lot of cost and heart burn). The property can be assumed free of all liabilities and repairs since the lender has the major interest. The property thus, may be ready for resale once it is purchased although the savings may be small (usually 10-15%).

Buying foreclosed real estate can be a profitable business if you do your homework before you invest and have the right backing of financiers to finance your acquisitions and a good marketing network to attract buyers.

For listings of foreclosed real estates, please visit http://www.real-estate-foreclosed-home.info/

Money Saving Tips (in Home Selling)

Here are a few tips you could use to save some money when you go about selling your home:

Real estate commissions charged vary with each agency. Therefore, bargaining with an agency before settling on a commission rate may help in reduce your outgoing. A 1% commission would be ideal and some brokers are known to settle for commission percentages in that range. Try to limit the time of agreement with one agent to no more than 6 weeks. This gives the agent sufficient time to sell your house and if it doesn't prove to be enough, then you should be in a position to change agents. You don't want to be stuck with an agent not able to sell your home.

Going with multiple-agents is not advisable as the fees will increase to about 3%+ as their is no exclusivity out here. However, this could also have a favorable impact in that you could sell your home quicker.

Never tell an agent what other agencies have valued your home to be. They may try to manipulate the offers. Make proper enquiries from various real estate agencies; speak to the right people in charge. Enquire about their charges. Bargaining always helps as the fees are negotiable.

Selling your home privately (on your own - the fsbo way) can save you a lot of money. However this requires a lot of time and effort but is a huge money saving tip. Selling your home on your own is highly possible these days especially with an online advertisement. Sites like ChoiceOfHomes.com have known to produce great results for homeowners selling their home on their own. Advertising could also be done through newspapers, flyers and pamphlets. In newspapers, it is best to keep the ad brief as charges are per line or the number of words. You must also ensure that the ad must not be uninteresting so as to just glance through. It should capture the readers attention. Another tip when placing a newspaper ad is that you could refer to an online listing for more information - that way a lot of people get to view your home and it's details online and are in a better position to decide whether they should call you or not.

It is best to sell your home when the market is booming and when the demand is high. The chances of higher profits is greater during this period. Also, generally, the real estate market is stronger in early and late summer than the rest of the year - so it's more advisable to sell your house then.

Think wisely and you'll come up with a few more ways of how to make more money from your home sale!

SEO for Real Estate Websites

Would doing SEO for a real estate website have to be different than doing SEO for any other website. Difficult to say, but here are a few things different that every real estate website should do if it wants to get up there in the famed "Top Ten":

1. The real estate segment is quite crowded. Yes, everything's quite crowded these days but real estate on the web is more so. It being primarily a service-driven sector, websites really have an impact on business. So when doing SEO, try and target terms that there isn't too much competition for and yet some search demand - yes, it's obvious everyone wants to do the same but it's a time-consuming task and not many end up doing so. With proper research and thinking, you can still find open avenues where competition can be overtaken with little patience and perseverance.
2. When listing your homes on other sites, if you do at all, do mention your website link where possible. Some websites allow for website url and these links can have an impact on your SEO efforts.
3. Just an idea, adding a search engine friendly forum to your website, where clients can interact and ask questions and .... can improve your chances with the search engines by showing updated and relevant content on a regular basis.
4. You might also want to update your home page regularly with the latest real estate listings that you've got. It will not only increase business prospects but also can have a favourable impact with the engines.

These are just a few points I've managed off my head. These points are apart from what you would normally do to "SEO" your site. Comments are welcome at sameer "AT" choiceofhomes.com

Is Real Estate So Difficult?

Just wanted to a few opinions around here? Do you think finding a home or selling a home or buying a home is really difficult.

Post your comments out here.

A Home Owner's Troubled Story

I've had my home up for sale for more than 3 years now! It's been tough! Never thought it'd take so long when I first thought of selling my home. I've tried selling on my own, I've tried selling through an agent and somehow a deal just never happened.

I think, and so do many others who visit my place think, that I have a wonderful home - it's large and spacious, well-decorated, extremely well-maintained and doesn't have any problems to speak of. You may think that 'aah, it must be the price!'....but no, I don't think so coz I've seen my homes in my neighborhood sell for prices higher than mine!

I've even gone to the extent of consulting with a few experts who help in making a home more 'auspicious' for sale - doing things that one would otherwise think were 'superstitious'. Well, I did that as well and it didn't work! What I'd like to know is why? Why don't you think I'm able to sell my home?

Post your comments using the Comments link below this post.

Pricing your Property to Sell

The property price dilemma

Homeowners are often faced with a dilemma of setting a price for their property when selling their home. If you ask for too much you risk your property being in the market for too long without attracting any offers. You may lose out financially if you set the price too low. This is why homeowners sometimes set price of their property very high and may negotiate the selling terms later if the property does not sell. However, this may affect value for your home.

The most important part of selling your home is setting the correct price. You may sell your home FSBO or through a real estate agent. Both ways it is important to set the right price. The main aim is to sell your home in a reasonable amount of time.

Buyers are well researched about the real estate market.

Buyers are very much aware of the current real estate market conditions. When a property is overpriced it won’t sell. When a property has been in the market for too long it becomes old and buyers assume that there must be something wrong with it. Sometimes sellers overprice the home and lower the price of it later just to test the market. However, the buyers still think it to be overpriced and tend to negotiate the sale. Properties that are listed with real estate agents are vulnerable as many agents give homeowners an overstated value of their property to try and keep the listing secure. Later the agent convinces the owner to accept an offer that is often lower than the actual value of the property.

Factors that affect the price of your home.

The sale price of your home is affected by the amount of time it spends in the market. When you need to sell your property quickly and the real estate market is moving slow you may have to settle for a sale at a lower price in order to sell your home. With this the number of prospective buyers increases as the property becomes more attractive to investors who may want to rent it out or offer it for sale at a higher price. When you are not in a hurry to sell your property you can focus more on attracting homeowners than investors. Homeowners are not that concerned about earning rent as revenue or high profit. They are often willing to pay more for a home they like.

Some other factors that affect the price are:

Location: Location is another important factor to be considered, which affects the price of your property. If it is located in an area that is up coming and is high in demand, it will fetch a higher price than the same home located in a less desired area.

Condition: A well maintained and can be moved into easily. The new owners don’t have to make any necessary adjustments. This will also fetch a better price and the sale will be made easier.
Facilities: If your house offers various amenities such as parks, schools close by, a club house; it will fetch a high price.

FSBO and property prices: As an FSBO homeowner you are in an incredible position to cut competition (properties listed with real estate agents) and can earn more of the equity as you have no real estate agent’s commission to pay. Many number of FSBO owners erode their competitive advantage by asking the same or more than properties listed with an agent.
Buyers have different opinions on whether to buy through an agent or directly from the owner. Sometimes buyers prefer to negotiate through an agent. They may be more honest with their feedback; therefore these buyers need a reduced price to attract them if they to consider FSBO properties. Many other buyers prefer to deal directly with owners. Buyers are aware that the homeowner is saving a certain amount since no commission is being paid and will expect the owner to offer some of the saving with them.

Determining the price of your property

To determine the price of your property it is necessary to be aware of the estimated price of similar properties in the neighborhood. This can be done in several ways:

1. Online valuation service
Online valuation services collect reports on historic sales data for a particular area. This is useful and provides information without any difficulty.

2.Professional appraisers
The most accurate way to find out how much your property is worth is through professional valuation. This is different from valuation that is availed from a real estate agent. Professional appraisers are legally responsible for their valuation. They have no financial interest in the property. Banks need a valuation from a professional appraiser to issue a mortgage. The appraiser will visit the property and assess the condition in order to value your home. Then they will compare it to other properties in the area.

3. Market analysis
A market analysis can be conducted by comparing similar properties in a particular locality. This means comparing the selling price of properties and not the asking price. Look for a few homes similar to yours sold in your area over the last few months. Enquire from agents or owners in order to find out about the properties listed. Since no two homes are similar to each other it is essential to make changes for differences between your home and the rest.