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Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio
Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio
Why overpricing your home can be very costly.
You will lose the excitement that a new on the market listing generates: Real estate agents are working with buyers who have seen the homes currently on the market for sale and are waiting for new homes to be listed for sale. Meaning, the most activity(showings) will take place in the first thirty days that your home is on the market. Your home will receive it’s highest offer during this time. After the initial period of being on the market, the only people that will look at your home will be new buyers coming into the real estate market that are looking for homes.
You can lose the most qualified prospects: Prospective home buyers won’t just “make an offer” because they probably won’t ever see your home. They will view the homes for sale that are priced within their price range, knowing that they cannot afford anything that is priced in the higher price ranges.
Overpricing helps sell other, more properly priced homes first: Your home may be used to demonstrate the good value of other properties. Your objective should be to enter the real estate market in a position that will attract prospective buyers, not drive them away. A classic example of this is a buyer looking at a number of homes in a row and the feedback received from the showing of your home was that your home was too small compared to the other homes. This means that the other homes priced similar to yours were larger and a better value.
Your home will become stale on the market: Prospective buyers will wonder why your home has been on the market so long, or if something is wrong with your home, even after you lower the price. You may even have to settle for less than the market value. A home takes on a reputation surprisingly fast, so don’t wear out your welcome on the market.
You will lose a strong negotiating position when your home is on the market for a long time, both financially and mentally: Prospective buyers will not “feel a sense of urgency” to make an offer on an overpriced property, and you may feel compelled to accept less when you finally do get an offer. Getting an offer on your home in the first thirty days on the market allows you to negotiate from a position of strength, getting an offer on day one hundred and forty on the market… not so much.
If you do get an offer, the contract may “fall thru” because of appraisal issues: The contract sale price must be justified to the lender through the process of the home being appraised. The buyer’s lender hires a third party (the licensed appraiser) to determine the market value of the home at the time of sale. If the appraisal does not “come in” at or above the contract sale price, the sale cannot proceed without an adjustment being made. The list price and sale price of your home, when listed for sale, must be justified with market sales data.
Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio
West Chester Ohio Real Estate Market Update
The West Chester Ohio real estate market update provides data on recent home sales, homes currently for sale, days on market data and list to sale ratios. Get map views of homes, school information and community information for West Chester and surrounding communities of Mason, Liberty Township, Monroe and Fairfield Township, Ohio.
Get your Personal Real Estate Market Update at our website: www.LowryTeam.com
You can start your search for a new home in West Chester, Beckett Ridge or Liberty Township, Ohio right here using our real estate search engine – LowryTeam.com.
LowryTeam.com Mortgage Interest Rate Update
Have mortgage interest rates hit their lows? Will they continue to move higher? These are good questions. The truth of the matter is nobody knows for sure. Mortgage interest rates have moved higher in the last 5-6 weeks.
It does feel like we have seen the lowest levels and that interest rates will continue to edge a little higher as we move through the spring real estate market and into summer. How much does it matter? It matters quite a bit if you care about your monthly home mortgage payment .
Waiting a few months to buy a home in West Chester, Beckett Ridge or Liberty Township, Ohio may very well cost you a great deal of money in the long run. Buying real estate today will get you a terrific fixed rate mortgage!
You can start your search for a new home in West Chester, Beckett Ridge or Liberty Township, Ohio right here using our real estate search engine – LowryTeam.com.
So your home was listed for sale and didn’t sell. No doubt you have tried to figure out why. Here are the top reasons that your home didn’t sell when you had it on the market listed for sale:
Reason #1: Your home is not staged!
As I have discussed in previous articles, preparing your home for sale is critical. In today’s real estate market hiring a professional stager is the surest step to success you can take. We have come to believe that staging a home for sale is so important that when you list your home for sale with the Lowry Team by January 31st, 2011 we’ll include a staging consultation at no additional cost to you.
Reason #2: Your home is not updated!
What does your home is not updated mean exactly? While this can be a little subjective, it means your home is freshly painted in modern, neutral colors, you have clean, newer, neutral carpet, stainless steel appliances, newer light fixtures and newer bath fixtures to start.
Reason #3: Your home is difficult to show!
What is difficult to show? If an agent is showing homes in West Chester, Liberty Township, Beckett Ridge and they call to set an appointment on your home, is the process quick and easy? Or is the agent told that they can only show your home on weekends or only after 5:00pm during the week. Can your home only be shown when you have time to run home and get the pets out of the house or clean the litter box? The only acceptable showing instructions that you should have, are that your home can be shown with very short notice, any time or day of the week. You cannot afford to miss a single showing. And by the way, please don’t suggest the agent come on a different day because it would be better for you. They aren’t coming back.
Reason #4: You have the wrong real estate agent!
Picking the right real estate agent is critical to your success in selling your home. You are relying on your agent to provide the very best pricing strategies. You are depending on your real estate agent to have the very best, cutting edge marketing plan. You are depending on your real estate agent to be sure that you have the very best photos of your home taken, to interpret the feedback from showings and to be available when it matters most. You are depending on your real estate agent to be able to negotiate the very best possible terms in the offer to purchase for you. Be sure that you have the right West Chester & Liberty Township real estate agent representing you in the sale of your home!