Real Estate Broker
CA DRE #00957311
You can sell it yourself, just run an ad and say Short Term (2yrs.)Owner Financing, or Lease with Option to purchase with Large Down. I use 137 Social websites to Market my Deals, which is available to everyone.
Use a Rap-Around which can allow you to make money or at least cover the Payment. Most of the time you can get up to Fair Market Value because you are the Bank and Qualifying is simple.
You can have a Local Bank service the Loan for a Small Few so you don't have that headache.
Plus if they don't Complete to process in to yrs. Sell it again with a Large down
The real estate market is ever changing. It changes depending on supply, demand and availability of loans. When you purchased your home you were probably in a Seller's market where there were competitions, the house was listed at a desirable price and in order to get the house you had to offer more.
Fast forward to today. In order for your home to sell compared to the other homes on the market you need to be competitive, list it at a price buyers are willing to pay and offer to pay closing cost because the buyers need that.
You could cancel and get another agent who will tell you what you want to hear. But I recommend that you hire the agent who will tell you the truth - what you need to hear in order to get your home sold. The reality is you can't really under price your home, if it is under priced you will get multiple offers. If you have been on the market for more than 10 days and this is the only offer you are receiving, pay attention, no buyer is going to pay full price the longer the home sits, and you may have to reduce and get even less.
We don't make the market we only interpret it. I hope you will be able to work with your agent and get top dollar for today's market. Communicate with your agent.
All the best to you.
The market today isn't pay top dollar, when 65% of all sales are short sales, 80 percent of market value and go up, once you make an offer they will say. If he will pay that maybe we can get more. Listing price is high to start, that is to get as much out of the Buyer to pay the Realtor plus profit.
you don't go down from your first offer, it only goes up. did you sign an Exclusive listing with your Agent if so, I think you need to have them produce a buyer as per the contact not less.
Are you in the Metrolist area, you hire a Realtor to Help you not Control you.
Think about it...
I think it depends on the market. You should ask for a market evaluation of what similar homes are selling for in your area. It's very true that a little while ago, we were offering a little more then asking and now since homes are not selling, people are offering less then asking. If possible, I would just hold on to the home if you really don't have to sell but if you do, I would be happy to assist you if you like.
When Selling over priceing a home is the most common and most detrumental mistake most sellers make. If the market is going up and the home is priced at market then you should get more than one offer. If the market is stable or going down then time is against you and you could lose more money in the long run.
I hope this helps answer your question.
There could possibly be a number of factors causing your agent to suggest that you take the less than list purchase price plus add some concessions to sweeten the incentive to the buyer. Keep in mind these are just speculations as each home and situation is completely different. The first theory that comes to mind is that perhaps the suggested list price was slightly high to begin with and buyers recognize that and are offering a price more in line with previous and recent sales. If you have been on the market for several days with no offers and you now have an offer with highly qualified and motivated buyers, then perhaps the market is telling you what the real price should be. If you received multiple offers and they all offered in the same general price range with similar terms then again the market is telling you what the real price of the home should be. If there were several short sales or foreclosure homes in the area that sold lower than expected then you may be facing appraisal issues at a price higher than those recent sales. Without having the facts to analyze your particular situation, again, these are all speculation on my part.
Sit down with your agent and ask a lot of questions about the sales in the neighborhood. Ask questions about the strength of the marketing already done. Ask questions about the different offers or inquiries that you've already received. Also, you are the boss. You should be clear in your instructions to your current agent about your expectations. He/she may be doing a great job but the lines of communication aren't as healthy as they might be. Then you will better be able to make a decision about whether to accept the less than list offer that you already have or move forward with a new agent and different marketing strategy.
Alain Pinel Realtors, Los Gatos
Refer to the post "Continued, Firming Trend", 4/16/11 at http://www.CaHomes411.com for further information.
Your prospective buyers will do the same comparing. Priced in this fashion your home will sell.
Currently, we're in a very strong Buyer's market where many sellers have to make numerous concessions to get their homes sold. Accepting lower offers, assisting the buyers with their closing costs, making numerous repairs, and possibly even helping them with their financing are all common to sellers nowadays in order to get their properties sold.
It used to be that in a Seller's market that some sellers would receive multiple offers so that the selling price would go for over asking price. That still happens occasionally in this market currently but usually the home is priced to encourage multiple bids or is just in great condition in a desirable location.
I don't think that what your agent is stating about accepting a lesser offer and helping with closing costs is out of the ordinary these days. It's up to you to make the decision based on how fast you wish to sell.
Hope this helps.
Prudential Connecticut Realty
All the best,
Pat Chadwell, Broker
Realty World - Residential Specialists
Timing is everything; but for now this is the way it is.
I do not understand the whole situation.....You bought one, and paid $20,000 more on it than List Price? Perhaps there were Multiple Offers? and you needed to pay more to get it?
And now you are Listing the SAME home or Another for Sale and your agent is asking you to accept $10.000 less on it? is there only One Offer on it? Is it a Regular Sale? or a Short Sale? So many questions......and why the 3% in closing costs?? Why dont you call your agent over and sit down discuss this in detail and ask her WHY? what is the reasoning and strategy here??
Wishing you the Best,