OK Mr Seller...Let's Look At The Facts!!!

By
Real Estate Agent with Coldwell Banker Pinnacle Properties, Florence Alabama
http://actvra.in/mjr

OK Mr. Seller...Let's Look At The Facts!!  No, I mean REALLY, let's look at the facts. 

Yes, I know your home is real estate factslocated in THE nicest neighborhood in town.  Yes, I know there are no other lots available in your subdivision.  Yes, I know that you don't HAVE to sell.  And yes, I know that there are no other homes for sale in your neighborhood(well, except for that one just down the street in front of you.  And oh yes, that one just down the street to your left). 

 

But here are the facts...

1)  Because no one else in the neighborhood has sold, there are no comps.  That means an appraiser will have to go outside of THE neighborhood to find comparable sales to yours. 

2)  It doesn't matter what you think your home is worth...it HAS to appraise in order for a buyer to be able to get a loan.  And even if you have a cash buyer drop down from heaven, he is probably going to be smart enough to get an appraisal.

3)  It doen't matter how much you have in the house.  All that matters is what it is worth today.  And what it's worth today is determined by the sold comps in your area.  And no, the appraiser can't use that house that sold 2 years ago up the street.  The sale must have taken place within the past 6 months.

Your home really is a beautiful home.  And it really is in a great location.  But the facts say it is very unlikely that you are ever going to get what you think your house it worth.   

 

 

If you are thinking of selling your home and want someone to tell you the facts...I'm your girl.  A simple, free, market analysis is all it takes to tell you what you can expect to get for your home.  If the numbers aren't right, then it's probably not a good time to put your house on the market.  Todays buyers are smart.  They aren't going to pay more for a home than what the area market says it's worth.  Call me and I will help you determine what the market says your home is worth...256-366-6292.

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Rainer
195,169
Adam R. Cohn
Primary Residential Mortgage, Inc. - Boca Raton, FL
We actually get mortgages closed FAST!

Great blog!  Lots of sellers are way off on what their homes are worth.

Have a great night.

Adam

Oct 31, 2011 11:42 PM #1
Rainer
98,250
Karen Poss
Coldwell Banker Pinnacle Properties, Florence Alabama - Florence, AL
Realtor - 256-366-6292 - Search Florence Al Homes For Sale

Thanks Adam, and YES they are!  And there's no amount of "showing them the facts" that will change their mind.

Oct 31, 2011 11:45 PM #2
Rainmaker
657,742
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Karen - If I didn't know better I'd say you were at my last listing presentation. Great post!

Nov 01, 2011 12:40 AM #3
Rainer
98,250
Karen Poss
Coldwell Banker Pinnacle Properties, Florence Alabama - Florence, AL
Realtor - 256-366-6292 - Search Florence Al Homes For Sale

LOL Laura.  So, did you take the listing anyway?

Nov 01, 2011 07:45 AM #4
Rainmaker
1,665,646
Dorie Dillard
Coldwell Banker United Realtors - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Good morning Karen,

You are exactly right! I always tell my sellers you have to convince 3 people: thew buyer, their agent and the appraiser! In today's market a seller has to be realistic or his house will be one of the many still sitting on the market!

Nov 01, 2011 08:33 AM #5
Rainer
98,250
Karen Poss
Coldwell Banker Pinnacle Properties, Florence Alabama - Florence, AL
Realtor - 256-366-6292 - Search Florence Al Homes For Sale

Dorie, very good point. I will have to remember that phrase.

Nov 01, 2011 08:40 AM #6
Rainmaker
175,297
Ken Brandon
Coldwell Banker Sea Coast Advantage (Jacksonville, NC) - Jacksonville, NC
Camp Lejeune, Jacksonville, NC

I have found that one of the biggest parts of my job in this market is helping to align seller's expectations with market realities. Sometimes...it isn't such an easy thing to do.

Nov 01, 2011 09:12 AM #7
Rainer
98,250
Karen Poss
Coldwell Banker Pinnacle Properties, Florence Alabama - Florence, AL
Realtor - 256-366-6292 - Search Florence Al Homes For Sale

No, it's not always easy.  But if we don't educate them up front, it will make us look bad in the long run because the house will not sell.

Nov 01, 2011 09:36 AM #8
Rainmaker
110,621
Glenn S. Phillips
Lake Homes Realty - Birmingham, AL
CEO, Lake Homes Realty

Ahh, the ways we (buyers and seller and professionals) can fool ourselves despite the reality. Very nice, concise post. Thanks! G

Nov 04, 2011 11:54 AM #9
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Rainer
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Karen Poss

Realtor - 256-366-6292 - Search Florence Al Homes For Sale
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