Just a little reminder!

By
Real Estate Agent with Movewest Realty, Inc.

Lately, I have heard from many Seller's across the nation, that their Agent's have used REO's and Short Sales for comparables on their Fair Market Value home. When I do some researching in  their market, I find that there are a plithera of  Fair Market Homes that can be used for their comparables.  So how do you help your client, when you don't know the Market? 

Simple, Ask a local agent for a CMA on your client's property. If they give you a CMA package with REO and Short Sales, with no FMV properties, then they are probably not the agent for you.  

Although all the markets are lavish with REO's and Short Sale properties, we don't want to forget about your Fair Market Value Seller's and Buyer's.  I have clients who want to buy a Move in ready, FMV home.  They don't want to fix up a home.  We need to remember to  market our Fair market property's equally as efficient as our REO's and Short Sales.  It won't be long until we are back to  selling only FMV homes.   

 

Have a Joy-Filled Day!

Darla

 

 

Posted by

Have a Joy Filled Day!

Darla Dennis- Realtor

Movewest Realty, Inc

805-504-0223

Homesbydarla.com

Dare to Dream with Darla on your Team!

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Topic:
ActiveRain Community
Location:
California Ventura County Camarillo

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Rainer
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Ron Bridges
ERA Wilder Realty, Inc.

Thanks Darla.  It is important for the client and the market to use the right homes for the CMA.  Just a note.  I have recently heard, not officially, that in SC the appraisers are to use REOs now for CMAs and not only FMV homes.  If anyone knows for sure, let us know, please. 

September 08, 2009 08:19 PM
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Courtney Cooper
206-850-8841
All Seattle Homes for Sale: CooperJacobs.com

 I have seen appraisals come in with them, too - not fun

September 08, 2009 08:22 PM
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Andrea Swiedler
Realtor, Southern Litchfield County CT
Berkshire Hathaway HomeServices New England Properties

Darla, I have heard here too, as Ron did, that appraisers are using these properties. Now one other hitch in my git-a-long, not all agents mark these properties on the MLS properly. Of course I will know a REO, but a short sale, not necessarily. Because they are often priced to pay off the loan, and close as a short sale, and are NOT marked, unless we have first hand knowledge, this is not always easy to find. 

But having said that, it is very important that prospective sellers use a local agent with extensive knowledge of the market, hands down.

September 08, 2009 08:23 PM
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Rainer
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Darla Dennis

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