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In a series of three posts, I want to share with you some very real-world and recent experiences with our home selling market as we know it in Houston in 2011. Even if you have sold many homes before, I bet there will be at least one of these three major deal killers that's new to you.
Deal Killer 3: Bad appraisals.
New Federal rules put some distance between those who order appraisals and those who do appraisals. That alone is not necessarily a bad thing, but unfortunately all common sense left the room when the rules changed. Appraisers tend to develop expertise in particular areas of town, even particular types of homes and real estate. Now the lender cannot tap that expertise because the lender must use a third party to order it. This lack of control, and a regulatory force that attempts to keep consumer costs down (and appraisal fees down) contribute to a very bad climate for making fair and competent appraisals. The last three appraisals I evaluated all contained huge mistakes, errors, and omissions that cost transactions and home owners money and time.
SOLUTION:
You better have a determined advocate on your side if you are selling your home. An advocate who knows how to find value in real estate today. One who will not take a bad appraisal laying down, and simply ask you to compromise yet one more time on your sale price. It's increasingly difficult to get deals done in our current market, but deals are getting done for those with the will to get them done.
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In a series of three posts, I want to share with you some very real-world and recent experiences with our home selling market as we know it in Houston in 2011. Even if you have sold many homes before, I bet there will be at least one of these three major deal killers that's new to you.
Deal Killer 2: A compromised online presence.
This deal killer will result in having no or very few low quality showings. And if you have no showings, you have no deal. Our goal is to make the photo layout better than reality. I secretly like showing feedback that starts with, "After viewing the photos, we were disappointed..."
SOLUTION:
Make sure yours are hi res images befitting the home. Note the daytime and night shots. Both stunning shots contributed to a timely and top dollar sale. The time, care, and passion for an excellent online presence begins with your agent. Look for the last in this series next week!
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In a series of three posts, I want to share with you some very real-world and recent experiences with our home selling market as we know it in Houston in 2011. Even if you have sold many homes before, I bet there will be at least one of these three major deal killers that's new to you.
Deal Killer 1: Not knowing the limits of your market.
That's right, without the right pricing and market placement, you could either be leaving money behind or worse, disallowing your home sale to materialize altogether.
SOLUTION:
The only way to really know when and where to place your home in the market is to be able to see the market. Don't depend on an appraisal (I will talk more on appraisals later!!), and don't depend on an agent who brings you four or five comparison sales. That's ridiculous. Our exclusive systems allow you to see the marketplace, determine its current health, see where your home should be positioned, and evaluate projected market times and net proceeds. Look for the next in this series next week!
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