Casey Horrell's Blog

So you have decided that its time to sell your home but you aren't sure what you should ask for it. Of course we all want to make the most profit off of our home sale, but overpricing can actually cause you to lose money on your home sale. When a home is overpriced it will stay on the market longer than nearby competing homes and it will eventually become "old news" to home buyers. After a while you will have to reduce the price and maybe even reduce the price again. Some buyers will ask their agent why your home has been on the market for so long and they may feel that there is some underlying cause.

There are several ways to determine a good asking price for your home!

1. Get an Appraisal.
This probably the most upfront expensive way to determine your home's value, but it is also the most reliable. On average, an appraisal can cost anywhere from $400 to $1,000 depending on the size of your home and what type of appraisal you receive. Keep in mind that just because your home appraises for a certain amount, that doesnt mean that you will be able to sell it for that price. In this market, buyers want to feel that they are receiving a good deal on the home they buy, so if you tell potential buyers that you are selling for "under appraisal" you might have better luck selling.

2. Call A Realtor.
Most realtors (like myself) enjoy doing CMA's (comparative market analysis) for potential clients and usually do these free of charge. A CMA will show you what other homes near yours have sold for within the past year and what the price per sq.ft. was. You can then take the average price per sq.ft. of the homes that have sold and compare it to the size and condition of your home. A realtor will also usually show you a breakdown of what you could expect to sell your home for on a high end and a low end amount. I usually include a full breakdown of what the seller could expect to WALK AWAY with if I were to put their home on the market and sell it for them. My commission is also included in this breakdown so that they can see exactly what to expect from me if I became their agent.

3. Go to Trulia or Zillow.
This is a free and easy way to check the average value of homes in your neighborhood. Unfortunately, it may not be very accurate sometimes. I would only use the information from these sites as a starting point and I would not determine my asking price from the results. But, you CAN find a good listing agent on these sites so be sure to explore them!

4. Go to the Courthouse
This requires a lot of research on your part. If you want to know what a home in your neighborhood recently sold for then you can take a trip to the local courthouse and look up any real estate property you desire in the records department. But keep in mind that it can take several months after a property is sold before the records are updated so if you are looking for a recent sale then it may take some time.

The price you ask for your home is very important, especially if you need to sell quickly. Be an informed seller and don't guess when it comes to pricing your home to sell!

You can find other Seller Advice on my Website: http://www.realestatebycasey.com
I serve the Conway, Ar area and I am happy to offer advice and assistance to buyers and sellers.

Casey Horrell Realtor Legacy Realty Inc. 2115 Washington Ave. Conway, AR. 72032 501-450-7303 or 501-697-8529 casey.horrell@legacyrlty.com

http://www.realestatebycasey.com

At this day and age, safety is a great concern for home sellers. Even a community with great people, growing business', and top colleges can invite unwanted guests into safe neigborhoods. Conway Arkansas is the community I am speaking of. I am a realtor in Conway and I like to offer the following advice to ALL "For Sale By Owners" in my community.

One: When you list your home for sale on the internet, its best to avoid listing your physical address. Craigslist is a great place to advertise, but scammers can steal your home photos and address very easily and even have unwanted guests showing up at your door asking if you are renting your home (because they saw it on craigslist posted by the scammer). Instead of posting "Home for sale at 555 Oak St" say something like "Great Home on Oak Street For Sale". Same goes with your phone number and email address. Avoid exposing too much information online.

Two: When you receive that phone call you have been waiting for and you finally have an interested buyer coming to view your home, be sure to have a friend or family member present during the showing. Do not allow a stranger to come to view your home no matter how sincere they seem over the phone. If you dont have a family member, ask a friend to come over and be your safety support.

Three: Remove any personal photos of yourself or your children that may expose your private life. Ex: School pictures with the school emblem on them, names of your children or family members, any bills or personal paperwork that could be easily read or picked up.

Four: Before allowing a stranger to view your home, politely ask them if they are pre-qualified with a local bank. If they say no, then its best to advise them to contact a bank first. You may explain that you are only showing your home to qualified buyers at this time. If they are pre-qualified, Great!

Five: Ask for help if you are unsure. If you find a buyer who wants to hand you a deposit or have you sign an agreement to sell the home to them, be sure that you completely understand what is expected of you and the buyer. If you do not fully understand, contact a local realtor (like myself) or contact your attorney and have them step in and assist you. Selling a home is a very important decision and you dont want to end up in court fighting over something you may have unknowingly agreed to!

The reason many sellers choose to sell themselves is to save money, make sure that you are saving yourself from future lawsuits and court visits as well by calling a Realtor if you have questions. Most realtors are happy to give advice to sellers who need it. I have even been in situations where FSBO's found a buyer for their home and had no clue what to do next.. so they called me and I stepped in to help!

There are many more seller tips on my website at http://www.realestatebycasey.com

If you plan to sell or relocate in the Central Arkansas Area, feel free to give me a call and I will be happy to help!

Casey Horrell Realtor Legacy Realty Inc. 2115 Washington Ave. Conway AR. 72032 501-450-7303 or 501-697-8529

http://www.realestatebycasey.com

With several universities in and around Conway, this market is somewhat swayed toward rental properties. Moving from Louisiana to Arkansas, I have been focusing on the Conway area and the current home sales and rentals. There are currently over 500 homes for sale in the Conway area, but the majority of the phone and internet traffic I receive are those wanting to rent.
Renting isn't a bad idea if you plan to stay somewhere short term, but if your still renting after a year you should really evaluate your long term needs. Just two years of renting costs approximately $16,000.00 (that you could have put toward owning a home).
The common concern seems to be that renters think they can not purchase a home because of their income or credit. Some renters have never even went to a bank to find out if they qualify to buy a home. I have a good friend in the restaurant industry who makes over $60k a year and has no vehicle loans and no credit cards and no debt, but yet they continue to pay $1,200 a month in rent. I could'nt tell you how many times I have heard her say "I wish we could buy a house". But, they are just too busy to take the time and call a lender to get started. They have now lived in South Louisiana for 5 years RENTING and have paid over $70k to their landlord. 
I want you to know that there are several loan programs available that include low down payments and even no down payment that many qualify for. All you have to do is visit your local bank and ask! Conway is a beautiful town with many established neighborhoods and new real estate going up everywhere. There are some great home prices right now too, how about a brand new 4br brick home for under $150k, they are available in Conway!

Casey Horrell, Realtor
http://www.realestatebycasey.com    Conway Homes Here