
Waiting for home prices to go up a little more?
Sometimes what's really important is something we hadn't even considered.
Don't wait too long to Sell... You may not be able to Buy!
Realty World ALL STARS Journal |
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![]() Thinking of selling your home to buying another? Waiting for home prices to go up a little more? Sometimes what's really important is something we hadn't even considered. Don't wait too long to Sell... You may not be able to Buy!
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![]() When real estate prices are going up, buyers and sellers are often surprised when the lender's appraisal comes in lower than the sales price. There are reasons for this. Appraisals are based on the sales price of homes recently sold. Those homes must also be located in the sale area. Unfortunately, in a rising market, those past transactions are likely to be at a lower price. Because of new restrictions placed upon the relationship between lenders and appraiser, buyers and their mortgage representatives have less control over the appraisal process. Today, lenders order an appraisal from a list of approved appraisal companies, and then a third party chooses the appraiser. That appraiser may not be from the local area and this can adversely affect how the appraiser interprets what constitutes a "comparable" home and neighborhood desirability. To help out of area appraisers, a listing agent can prepare documentation to demonstrate a home's unique value and market desirability. Some appraisers have been known to recommend that the sellers (or their agent) prepare a package of information on the home, including data on comparable houses and any improvements that have been made that should influence the value of the home. Our agents are skilled in preparing solid documentation to assist those out-of-area appraisers. (See link below for a timely Washington Post article) Read the full story in the Washington Post ![]() It is rare to find homeowners who don’t want to achieve top dollar when they put their homes on the market. To accomplish that, they need lots of qualified buyers eager to purchase their house. Greater demand creates competitive bidding which will in turn drive up market value. It’s all so very simple. That’s the way top market value is achieved. And your Realtor's task is to find those buyers and convince them to take a look at your home. If enough buyers want your home at the same time, competitive bidding and market value increases are the ultimate outcome. The methods used to achive market exposure are changing. The biggest change today is the way in which buyers first discover homes. The advent of affordable technology has enabled future homeowners an easy way to conduct home searches. Most buyers will actually make the decision to visit your home from just the photos. They will actually eliminate property to visit by the same method. Attractive photos can make a powerful first impression and most buyers will use internet connected devices like tablets and computers (which the majority of home buyers use to find properties - 94% in the last National Association of Realtors survey!) to research homes. Real estate agents, smart phones and magazines round out the top 5 instruments people use. Consequently, if you want to reach the largest pool of potential home buyers and create competitive demand for your home, all five of these delivery vehicles must receive full marketing attention. To do less puts your home's equity at risk. Conventional real estate marketing relies on posting photos with flowery descriptions into the mls (multiple listing services). The information is then syndicated throughout the internet to websites like RealtyWorld.com, Realtor.com, Zillow, Trulia, and idx enabled websites. That's the way almost every real estate company markets homes and they can take hours explaining to you how their syndication is the best. (It may be "best" but almost everyone is using the same syndicator.) Single sheet flyers (brochures) and virtual tours posted in the mls are also popular ways to market agents and their listings. But these activities alone no longer meet the wants and needs of contemporary connected buyers. Those buyers will frequently want to have access to more information like: how do the local schools rank and what businesses and services are in the immediate area? Connected buyers also like to see maps and videos, while many will even dig deeper to find and study market statistics. And here's a word of caution about "connected buyers": they want this information before they decide to call an agent to look at homes. And when they don’t get the information right away, they often lose interest and move on to find other homes. At Realty World, we’ve invested in technology that enable buyers to get this information quickly and easily. We'll craft a marketing campaign that has been created to cultivate positive first impressions that encourage a visit to our homes. One way we accomplish this is to utilize multiple websites and dedicated pages for each of our listings. We then post those sites so search engines will find them. We also put together videos and virtual home tours which we tag and distribute to online communities and agent alliances. And in addition to using our area’s most popular home magazine, we now publish our own magazine of homes with features you won't find in other home magazine publications. Our digital versions of the ALL STARS Insider Magazine, lets buyers browse and read, watch and enjoy videos and virtual tours, check out local area schools, discover surrounding services, study local market information, and then request an appointment to take a closer, more personal tour… and they can conveniently do this all from their tablets, computers, and even their mobile phones! One day some other company will put together marketing campaigns designed to build seller equity like the ones Realty World ALL STARS utilizes today. Of course by then, we most likely will have created and perfected new systems to reach more home buyers. After all, we want to help our homeowners get what they want as soon as they want and be inconvenienced as little as possible! Our past clients have said it best in both the Los Angeles Times and Daily Bulletin reader polls: Realty World All Stars is the "Best Real Estate Company in Southern California!" No other real estate brokerage can make that claim. |
Karla and JoeWe're the owners of Realty World ALL STARS, and we play an active, hands-on role in the daily operation of our company. Archives
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