house is only worth what someone will pay for it..everyday u wait the price goes down in this market. make sure u have a good agent, one with a long track record...when the market was flying any idiot could sell a house.
peter
of NJ
@
Jun 29, 2008 11:23:39 AM
Another thought on selling
According to some statistics, 95% of listed homes are sold by an agent other than the one who did the listing. Therefore, wouldn't it make sense for brokers to spend more time getting other brokers interested in a specific property?
Another point, a slow market does mean that a home has to be priced competitively. But, there is point where you can just be throwing away dollars. If your home is worth $200,000, but, there just aren't any buyers out there (it happens in rural markets), lowering the price won't attract any buyers, until your price is so low that an investor notices.
Jonathan Harris
of ME
@
May 27, 2008 20:44:06 PM
Unexpected Seller Expenses
While I don't question the truth of NC agent's last comment, I would caution sellers to be informed regarding unexpected closing costs for which they may be held responsible, which can leave a seller with considerably less net proceeds than anticipated. Maybe this could be one reason why Hallie of Kentucky's seller ended up with too little money to move.
Betty Schier
of OR
@
May 10, 2008 14:35:35 PM
I'd say in this market - he might be lucky he didn't have to come out of pocket as many Buyers are having to do. I wouldn't not be so quick to judge the Realtor. She/He may have done him a favor. How long was the home on the market? What kind of condition was the home in and how many repairs did it need? What kind of financial bind was the Seller in? And I don't understand why he did not have anywhere to live. Did he not have a plan while his home was on the market of where he would be moving to? Also, I am, a real estate agent - and do not ever recall a single closing where I held the Seller down in a headlock and made him sign the deed over.
of NC
@
May 10, 2008 11:46:52 AM
Below Fair Market Value
Is $85,000 considered a fair price for a home valued at $105,000 and others in the area are selling for 98,000 and above? Oh, the pay off on the house is $84,650.00
this actually happened and the seller came away with $20.93 and no place to live, no money to move because the realtor purchased her home.
Hallie Miller
of KY
@
May 01, 2008 17:03:15 PM
One More Tip Makes It 6
I'd add a section regarding marketing with an empahsis on Internet skills. Today's buyers are increasingly turing to web based search tools to find their homes. A home seller will do better if he or she hires an agent with strong internet marketing skills. I believe an important question to ask an agent is what they do to achieve premium placement on top real estate search sites commonly used by the general public, especially in their regional market.
Other than that, I found this article to provide strong advise a home seller in today's market will be wise to heed. Great work Luke!!!
peter of NJ @ Jun 29, 2008 11:23:39 AM
Jonathan Harris of ME @ May 27, 2008 20:44:06 PM
Betty Schier of OR @ May 10, 2008 14:35:35 PM
of NC @ May 10, 2008 11:46:52 AM
Hallie Miller of KY @ May 01, 2008 17:03:15 PM
Gene Urban of AZ @ Apr 16, 2008 22:05:27 PM
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