Mistake #1 — Pricing Your Property Too High

Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

Mistake #2 — Mistaking Re-finance Appraisals for the Market Value

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your REALTOR® for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

Mistake #3 — Forgetting to “Showcase Your Home”

In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

Mistake #4 — Trying to “Hard Sell” While Showing

Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don’t try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

Mistake #5 — Trying to Sell to “Looky-Loos”

A prospective buyer who shows interest because of a “for sale” sign he saw may not really be interested in your property. Often buyers who do not come through a REALTOR® are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.

Your REALTOR® should be able to distinguish realistic potential buyers from mere lookers. REALTOR®s should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general. If your REALTOR® fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new REALTOR®.

Mistake #6 — Not Knowing Your Rights & Responsibilities

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold “as is”? How will deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.

Mistake #7 — Limiting the Marketing and Advertising of the Property

Your REALTOR® should employ a wide variety of marketing techniques. Your REALTOR® should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your REALTOR® is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.

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Easing the Transition to Your New Home Use the right boxes, and pack them carefully

Professional moving companies use only sturdy, reinforced cartons when moving you into Your New Home. The boxes you can get at your neighborhood supermarket or liquor store might be free, but they are not nearly as strong or padded, and so can’t shield your valuables as well from harm in transit to Your New Home.

Use sheets, blankets, pillows and towels to separate pictures and other fragile objects from each other and the sides of the carton. Pack plates and glass objects vertically, rather than flat and stacked.

Be sure to point out to your mover the boxes in which you’ve packed fragile items, especially if those items are exceptionally valuable. The mover will advise you whether those valuables need to be repacked in sturdier, more appropriate boxes for the move to Your New Home.

The heavier the item, the smaller the box it should occupy. A good rule of thumb is if you can’t lift the carton easily, it’s too heavy. Label your boxes, especially the one containing sheets and towels, so you can find everything you need the first night in your new home.

For your family’s safety and comfort in Your New Home

Teach your children the address of Your New Home. Let them practice writing it on packed cartons. You can lighten your load and reduce any storage space you need to rent by hosting a garage or yard sale.

Fill two “OPEN ME FIRST” cartons containing snacks, instant coffee or tea bags, soap, toilet paper, toothpaste and brushes, medicine and toiletry items (make sure caps are tightly secured), flashlight, screwdriver, pliers, can opener, paper plates, cups and utensils, a pan or two, paper towels, and any other items your family can’t do without. Ask your van foreman to load one of these boxes, so that it will be unloaded at your new home first. Why the second box? In case the movers are delayed getting to your house on the day of the move.

Keep your pets out of packing boxes and away from all the activity on moving day to Your New Home.

Let all your electrical gadgets return to room temperature before plugging them in.

Since you may need to call old neighbors or businesses from your new home, pack your phone book.

Work hand in hand with your mover

Give the mover’s foreman your reach numbers and email addresses so you can stay in contact.

Read the inventory form carefully, and ask the mover to explain anything you don’t understand. Make a note of your shipment’s registration number, and keep your Bill of Lading handy.

If you’re moving long distance, be aware that your property might share a truck with that of several other households. For this reason, your mover might have to warehouse your furniture and belongings for several days. Therefore, ask your mover whether your goods will remain on the truck until delivered. If they have to be stored, ask whether you can check the warehouse for security, organization and cleanliness.

Moving into a new home

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HOME BUYERS: How To Avoid Seven Costly Mistakes!

There are some simple steps that home buyers often miss when looking for their new home.

Taking the time to consider these steps can save home buyers thousands of dollars, but more importantly, can smooth the process of buying a new home. With just a touch of preparation, home buyers can save time and money, as well as alleviate stressful situations in advance.  Contained in this report are seven basic steps that will alleviate the uncertainty and trepidation that comes from buying a home, regardless of whether you are making your first purchase or are simply relocating.

Be Honest

1. Begin by being up front and honest with your REALTOR and lender about your credit history.  A home buyers credit, whether good or bad, affects everything from your down payment to your interest rates.  Your REALTOR or a professional mortgage consultant can often advise you the home buyers as to how you can get credit problems cleared up or completely eliminated from your credit report before you apply for financing or make an offer on a new home.

Get Pre-Qualified

2.  Getting pre-qualified for a loan by a professional lender before you begin your search for a new home will allow you to know in advance exactly what kind, and how much, mortgage you can afford.  This makes it possible for home buyers to make an offer on your new home with confidence that enough funding is available.

Ask For A Home Warranty

3.  If the seller does not offer a home warranty on the house you want, ask your REALTOR to make it a part of the written offer that you make.  A home warranty can save home buyers thousands of dollars in repairs, and can often be obtained for a very nominal annual fee.  A standard warranty covers the electrical, plumbing, heating and air conditioning systems as well as major home appliances.

Get A Market Analysis

4.  Ask your REALTOR for a market analysis of the home, in comparison to similar homes in the neighborhood or throughout the city, before you make an offer.  A home is not just a place where you live – it is also an investment.  Take the time to view several homes before you make an offer so you know exactly what is on the market.  Be certain you are making a wise investment.

Get a Home Inspection

5.  Make your offer contingent upon a home inspection and ask the seller to make the required repairs.  Hire a professional to inspect every aspect of the home thoroughly.  This can save home buyers thousands of dollars in costly repairs and many headaches in the future.  A good inspection can also allow you to negotiate for any repairs prior to closing.  If the seller is not willing to make the necessary repairs, remind them that the lender will also require the home to be in good condition before they make a loan for the purchase.

Understand Your Situation

6.  Take into account your present homeowner or renter status.  If you already own a home and must sell it before you buy a new one, it is best to get a REALTOR to do a complete market analysis on your present home.  This allows home buyers to know how much they can sell their current home for before they make an offer on a new one.  If you are leasing or renting, the lease’s expiration date will give you a timetable for your new purchase.  Review this with your REALTOR well in advance of when you want to move.

Select the Right Agent

7.  Choose your agent wisely.  Working with a full-time professional real estate agent is a must. Ask questions of your agent.  Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold.  Can your agent recommend a good lender that has the reputation of excellent customer service and low rates?  Does your agent ask questions of you to have a full understanding of what you are looking for and to help you get the most home for the money?

A top-tier real estate agent is one who is interested not just in selling houses, but one who is willing and able to match you to the home of your dreams!  It is to the home buyers benefit to interview more than one agent until you find one that is best suited and prepared to provide the pride of ownership for you and your family.

BUYERS: Save Thousands When You Buy Your New Home!

Buying a home is a great investment, possibly the largest investment you will ever make, so it seems logical that you would want to invest your money wisely when the time comes to Buy Your New Home.  The following report will tell you simple but often-overlooked procedures that will allow you to maximize the return of the dollars you invest when you Buy Your New Home.

Things to consider when you Buy Your New Home

Most home buyers have two primary considerations when they start looking for a home.  First, you want it to meet your needs and desires, and secondly, you want to get the best buy possible when you Buy Your New Home.  Successful home buyers emerge from a sale with the features they want in their new home at the best price available in the market.

Know What You Are Looking For when Buy Your New Home

Take the time to write up a list of your practical needs when shopping to Buy Your New Home.  Once you complete that list, then make another list of desires. When you go out and actually begin viewing houses, be sure your choice is one that fulfills most of your needs when you want to Buy Your New Home.  It is not uncommon for someone to start out with very specific needs and wants but fall in love with a home offering different features.  Ideally a house will come along that has all of your needs and desires, but sometimes that doesn’t occur.  Be careful not to get caught up in the excitement of home shopping and end up with a home that is not as close to perfect as possible.  In the long run, finding a home that best suits all of your needs will be more satisfying than a house that has a few fancy features but ultimately is an inconvenience when you Buy Your New Home.

Get Pre-Qualified By A Professional Mortgage Lender Before you Buy Your New Home

You should be pre-approved for a loan by a professional mortgage lender in order to Buy Your New Home.  By understanding what you can afford, you will not spend time looking for homes that are out of your price range.  You also need to understand the various financial aspects of the sale, from whether to spend more up front or make a smaller down payment and work with a larger loan.  There are several costs to consider in the process before you Buy Your New Home.  Your REALTOR can recommend a reputable mortgage lender who has the reputation of providing excellent service and good rates.  Remember, the backbone of any financial transaction is knowing what you are capable of before you hit the negotiating table.  Being pre-qualified will allow you the freedom to select the house that best fits your budget with confidence.

Choose Your Agent Wisely Before you Buy Your New Home

Any agent will show enthusiasm and will want to help you locate and Buy Your New Home; they need:

A.  Experience at assisting buyers in locating the best home.
B.  Ability to use technology to search the market thoroughly.
C.  To review with you comparable home sales in the area you choose.
D.  Information pertaining to new homes coming on the market that other agents do not know of.

Working with a full-time professional real estate agent is a must. Choose your agent by asking questions of him or her before deciding on them to help you Buy Your New Home.

Find out how knowledgeable they are about houses currently for sale in your price range and also of houses that have recently sold.  Can your agent recommend a good lender that has the reputation of excellent customer service and low rates to assist your new buyer with financing?  A good listing agent can get your house sold quickly at TOP DOLLAR and help you Buy Your New Home.

Buy Your New Home

Secrets to Buying the Best House for Your Money
1. Get “Pre-Approved” – Not “Pre-Qualified!”

Do you want to get the best house you can for the least amount of
money? Then make sure you are in the strongest negotiating position
possible. Price is only one element in the negotiations, and not
necessarily the most important one when buying a house. Often other terms, such as the
strength of the buyer or the length of escrow, are critical to a
seller.

In years past, I always recommended that buyers get “pre-qualified” by
a lender before looking for a house. This means that you spend a few minutes on the phone with
a lender who asks you a few questions. Based on the answers, the
lender pronounces you “pre-qualified” and issues a certificate that
you can show to a seller. Sellers are aware that such certificates
are WORTHLESS when it comes to selling their house, and here’s why! None of the information has been
verified!

Many times unknown problems can come to the surface! Some of the
problems I’ve seen include recorded judgments, alimony payments due,
glitches on the credit report due to any number of reasons both
accurately and inaccurately, down payments that have not been in the
clients’ bank account long enough, etc.

So the way to make the strongest offer today is to get “pre-approved”.
This happens AFTER all information has been checked and verified. You
are actually APPROVED for the loan and the only loose end is the
appraisal on the property. This process takes anywhere from a few days
to a few weeks depending on your situation. It’s VERY POWERFUL and a
weapon I recommend all my clients have in their negotiating arsenal.

2. Sell Your Property First, Then Buy the House

If you have a house to sell, sell it before selecting a house to buy!
Contingency sales aren’t nearly as strong as one that comes in with a
ready, willing and able buyer. Consider this scenario: You’ve found
the perfect house – now you have to go make an offer to the seller.
You want the seller to reduce the price and wait until you sell your
house. The seller figures that this is a risky deal, since he might
pass up a buyer who DOESN’T have to sell a house while he’s waiting
for you. So he says OK, he’ll do the contingency but it has to be a
full price offer! You have now paid more for the house than you
could have because of the contingency, and you have to sell your
existing house in a hurry! Otherwise you lose the house! So to sell
quickly you might take an offer that’s lower than if you had more
time. The bottom line is that buying before selling might cost you
THOUSANDS of dollars.

3. If you’re concerned that there is not a house on the market for
you, then go on a window-shopping trip. You can identify possible
houses and locations without falling in love with a specific house.
If you feel confident after that then put your house on the market.

Another tactic is to make the sale “subject to seller finding suitable
housing”. Adding this phrase to the listing means that WHEN YOU DO
FIND A BUYER, you will have some time to find the new place. If you
don’t find anything to your liking, you don’t have to sell your
present home.

3. Play the Game of Nines

Before house hunting, make a list of things you want in the new house.
Then make a list of the things you don’t want. You can use this list
as a guide to rate each house that you see. The one with the
biggest score wins! This helps avoid confusion and keeps things in
perspective when you’re comparing dozens of homes.

When house hunting, keep in mind the difference between “STYLE AND
SUBSTANCE”. The SUBSTANCE are things that cannot be changed such as
the location, view, size of lot, noise in the area, school district,
and floor plan. The STYLE represents easily changed surface finishes
like carpet, wallpaper, color, and window coverings. Buy the house
with good SUBSTANCE, because the STYLE can always be changed to match
your tastes. I always recommend that you imagine each house as if it
were vacant.

Consider each house on its underlying merits, not the seller’s
decorating skills.

4. Don’t Be Pushed Into Any House

Your agent should show you every available house that meets your
requirements. Don’t make a decision on a house until you feel that
you’ve seen enough to pick the best one.

A decade ago, homes were selling quickly, usually a few days after
listing. In that kind of market, agents advised their clients to make
an offer ON THE SPOT if they liked the house. That was good advice at
the time. Today there isn’t always this urgency, unless a home is
drastically under priced, and you’ll know if it is.

Don’t forget to check into the SCHOOL DISTRICTS of the area you’re
considering a purchase of a house in. Information is available on every school; such as class
sizes, % of students that go on to college, SAT scores, etc. You can
get this information from this web site.

5. Stop Calling Ads!

Please note – ads are sometimes created to make the phone ring! Many
of the homes have some drawback that’s not mentioned in the ad, such
as traffic noise, power lines, or litigation in the community. What’s
not mentioned in the ad is usually more important than what is.

For this reason, I want you to be very careful when reading ads.
Remember that the person writing the ad is representing the seller
and not you! The most important thing you can do is have someone
on your side looking out for your best interests. Your own agent
will critique the house with an eye towards how well it meets your
needs and will point out any drawbacks you should know about. So
whether you decide to work with me or not, pick an agent you feel
comfortable with and enlist the services of that agent as a buyer’s
broker. Then you become a client with all the rights, benefits, and
privileges created by this agency relationship, and you’re no longer
just a shopper. Did you know that many homes are sold WITHOUT A SIGN
ever going up or an AD EVER BEING PUT IN THE PAPER? These “great
deals” go to those people who are committed to working with one
agent. When an agent hears of a great buy, who do you think he’s
going to call? His client, who he has a legal obligation to work
hard for you, or someone who just called on the phone and said
“keep your eyes open”? So to get the best buy on a property, I always
recommend that you hire your own agent and stick with him or her.

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Finding the Best Real Estate Professional

Finding the right real estate professional requires doing a little research and asking a few questions.

You need to know everything about the selling process. What is the marketing strategy? What kind of advertising will be done by the Real Estate Professional? Is the Real Estate Professional capable and willing to communicate effectively? Can the Real Estate Professional effectively present and sell the less-noticeable assets of the property?

Real Estate professionals also need to be knowledgeable about the community. The Real Estate Professional needs to have a feel for the history of the area and the approximate price that people will be willing to pay. Also, Real Estate agents should know what the competition is and how much it will effect your sale.

NEVER choose a Real Estate Professional on price alone. Remember that a Real Estate Professional cannot magically raise the selling price of the house. Consider the buyer. The purchaser won’t willingly pay too much; it’s most likely that he or she will do research on the market and try to find the best product for the best price. The facts simply cannot be changed, no matter which Real Estate Professional you select. In spite of these unchangeable factors, the Real Estate Professional you select must still be diligent and knowledgable.

If your property does not elicit attention within several weeks, the cause can most likely be attributed to one of these three factors: location, condition, and price. The location obviously cannot be changed. You should consider examining the conditioning of your property and reevaluating the marketing strategy. Ask your Real Estate Professional to offer an explanation of the competition and your pricing strategy.

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