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Lauren Case's Blog

By Lauren Case | Agent in Calabasas, CA

Are home prices really still falling?

CNN says they are; MSNBN agrees; the Wall Street Journal says "Home Prices Hit Post-Bubble Low".  It's true to some extent that we are still seeing home prices fall but here is the clincher - not in all instances!  How can a seller increase their chances of keeping more of their equity? First off, hire a Realtor that knows your neighborhood and understands what are the attributes that will make your home sell for more. Secondly, price your home where the agent recommends pricing it - they are the experts!  The buyers out there are the ones that ultimately decide what they are willing to pay for your house, so keep that in mind when the thought creeps into your head "but I really wanted to make XX amount of money".  It's not what you want to make back on the house that should determine the price but rather the hard number crunching based on statistics and comparatives of other homes sold in your neighborhood that should dictate your asking price. There is no greater mistake than pricing it higher than is recommended only to find that a large percentage of buyers are no longer interested in even seeing the house. The incorrect mindset of "but I will have no negotiating room" is old-school - price it right & it will sell quickly and for the right price!! Thirdly, make sure your home is in tip-top shape even if this means spending a little to get it spruced up right. If the buyers sense any sort of maintenance issues, they will immediately start to think "is this home a distress sale?" and $$ will start dropping off.  We've got buyers & sellers that are in the market right now with the correct mindset & it's paying off for them. Are you one of them??

 
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