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Home
buyers
used
to
have
it
easy
-
all
they
had
to
consider
when
buying
a
home
was
price,
condition
and
location.
Getting
loans
was
a
snap,
and
reselling
the
home
was
never
a
worry.
But
today’s
recessionary
market
is
throwing
home
buyers
a
curve.
They’re
not
so
certain
home
buying
is a
good
investment,
and
neither
are
their
bankers.
If
you’re
a
home
seller,
you
need
to
know
what
buyers
are
facing
in
today’s
real
estate
market,
so
you
can
do
the
one
thing
that
will
help
the
right
buyer
buy
your
home.
Price
it
to
sell.
Buyers begin their search for a home with prices: Buyers may search many neighborhoods or look at homes out of their price range to get an idea of the marketplace. But, when it comes to serious shopping, they know their price and use it to see which homes they can afford.Buyers are prequalified by their lender: A serious buyer will not be satisfied with day dreaming for long. They’ll share their financial information, and get prequalified by a lender who will tell them exactly how much they can afford. Is your home in the right price range?
Buyers work with real estate professionals: Once they have a green light, buyers start shopping. They ask their real estate professionals to start gathering and presenting homes they might like. If your home is priced too high, your best, likeliest buyer will never see it. Is your home overpriced compared to the competition?
Buyers have incredible sources to compare homes: Videos, virtual tours, feature sheets and multiple photos are the eye candy. They quickly sort through what’s available to a short list of the most appealing homes in their price range. Did you de-clutter, clean, stage and update your home?
Buyers choose homes based on bang for the buck: As buyers walk through listings with their real estate agent, they’ll quickly make snap decisions based on size, condition, and location as compared to price. Does your home offer the most bang for the buck?
Buyers use the same comparables you do. Just as you and your real estate agent have examined the market, buyers and their agents do the same. They know which homes are overpriced, and they’ll assume that an overpriced home comes from either an unmotivated or unrealistic seller. They’ll make their offer to the seller whose home offers the most for the money and who appears most reasonable to an offer. Do you appear negotiable?
Buyers’ banks confirm prices with appraisals: Today’s appraisals are strict. New codes of conduct require banks to avoid pressuring appraisers to “hit the numbers.” Appraisers are required to go back as long as one year, to determine if your home is in a “declining market.” If so, the appraisal can come as much as 5% under your list price. If the appraisal is under the list price, the bank won’t lend. Are you prepared to lower your price to make the deal go through?
Buyers face unprecedented banking challenges: Banks no longer offer non-conforming loans with abandon. Many banks are balking at offering conforming loans, and those are government-guaranteed. They require stricter proof from buyers that they are able to repay their loans, often qualifying them at much lower levels. Are you willing to help your buyer by paying down points?
Buyers are scared: They have to have a good reason to buy a home, and news of declining prices hasn’t provided much incentive. Help them by showing them all the ways your home has rewarded your ownership. Show them how much you pay in property taxes, how much you get as a homestead exemption, how much you’re able to write off your income taxes as a homeowner. Are you willing to share what buyers need to know?
Buyers don’t have to buy: They want to buy. They want the joys of homeownership, and it’s your job as a homeowner to provide them with the tipping point they need – the best home at the best price. Is your home priced to sell?
Contact
Me
I can help you with every
aspect of buying or selling your home because I’m
experienced, because I am a Better Homes and Gardens
Rand Realty Real Estate Professional . . .and because I
care.
As
your
Better
Homes
and
Gardens
Rand
Realty
Sales
Professional,
I
will
provide
you
with
the
information
you
need
to
make
an
educated
decision.
The relationship between a home buyer or seller and their agent is based on trust, shared goals and understanding. I strive to continually improve and to do this I listen and take the needs and wants into consideration.
For assistance with any of your real estate needs, please contact me, whether it's to get started on helping you realize your goals and dreams, or just to ask a question - no pressure, no hassle, no obligation - just a friendly conversation. I would welcome the opportunity to make a difference for you. |
