Light Bulb Moments for Buyers and Sellers!

By
Real Estate Agent with MacIntyre & Cowen- ReMax

 

Light Bulb Moments for Buyers and Sellers:

  • #1 Rule for Real Estate Investing -Buy the ugliest (cheapest) home on the nicest neighborhood you can find.  Do not be distracted with new carpet and fresh paint on a Flip when there are 10 For Sale signs on the street.  It will make the difference if you are laughing or crying when you go to sell.

 

  • Sellers- "Housekeeping Pays."  You better believe that Buyers see that dirt and clutter and start mentally reducing the price of the home....click click click.  They are calculating their time & suffering as they picture themselves scrubbing and finding hair balls.  It can add up to tens of thousands

 

  • Sellers- Make sure you leave the home completely for showings and give the buyers some breathing room.  Do not linger in the backyard and do not park across the street and sit in your car with binoculars!

 

  • Buyers - If you are planning to get approved for a mortgage.....  Keep a paper trail on your finances.  Keep documentation or a ledger of major cash deposits, shuffling of funds from different accounts, file your tax returns.  There will be a test at the end.  Just Joking

 

  • Buyers- Making multiple offers is not cheating!  If you offer on 2 homes and get them both, you still have to bottom line the acceptance to solidify the binding contract.  The likelihood of you getting both homes, (especially in the current trend of "LowBalling") is highly unlikely.  Like winning the lotto while being struck by lightening.

 

  • Buyers- 50 cent on the dollar offers on foreclosure properties are going in the trash.  This is a huge nasty rumor that people are stealing these properties from the banks.  Foreclosures are priced under market value to invoke a feeding frenzy and drive in competing offers, which in turn drive up the final sale price OVER asking!

 

  • Sellers- Do not "over improve" your home for the neighborhood.  You have to love where you live, but do not throw money into a home thinking you will get more for it than what the homes down the street are selling for.  Sure your home is special but the sold comparables are what the appraiser is going to use to determine the value.
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lamp to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Location:
Michigan Ingham County East Lansing
Groups:
100,000 ActiveRain members
Active Rain Newbies
Realtors®
RE/MAX Active Rain Bloggers
Tags:
first time home buyer
seller tips
selling a home
lansing real estate
buying a home
buying tips
bank foreclosures
homes for sale

Comments 5 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
692,982
Chuck Carstensen
Minnesota Real Estate Expert
RE/MAX Results

These are a light bulb moments so good share.  People need to know this.

February 05, 2011 12:29 PM
Rainmaker
1,089,947
Li Read
Caring expertise...knowledge for you!
Sea to Sky Premier Properties (Salt Spring)

All good points...definite "light bulb" moments.

February 05, 2011 12:34 PM
Rainer
107,292
Christine Loschiavo
Broker, PropertyCupid.com
Property Cupid, LLC

These are all items that are important for buyers and sellers to know. Good post.

February 05, 2011 01:18 PM
Rainmaker
224,582
Mary Stewart
Wilsonville and Surrounding Portland Metro Areas
HomeTrust Real Estate, LLC, Homes for Everyone

I enjoyed your post and even chuckled at the sellers sitting across the street with binoculars in hand.  I agree these points are all important "light bulb" moments.  Thank you for a good post.

February 05, 2011 03:05 PM
Rainmaker
671,047
Kay Van Kampen
Realtor®, Springfield Mo Real Estate
RE/MAX Broker, RE/MAX Solutions

Great points for buyers and sellers.  I've never had a buyer make multiple offers.

February 05, 2011 09:51 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the truck to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
10,725

Peter MacIntyre

Working to Bring You Home!
Looking to Make a Move? Contact me today!
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the graph to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: