The strategy I use for my clients when they ask me this question is pricing the home just under market value; typically 2% - 5% under, depending on the market.
Then I do my consultation to get the home selling ready. This means we do a walkthrough of the property and at the end they get my checklist of what they must do to get the home in tip top shape. Things on this list include painting, repairing minor things, de-cluttering, de-personalization, etc.
Next, I do my brokers open house to get the agents in the house to see it and start thinking of who they are going to bring to the home. I make sure I have an EXCELLENT food offering.
Then, I launch my extensive internet & direct mail ad campaign (Zillow Trulia, Realtor.com, Homes.com, Craigslist, personal websites, reciprocal websites, direct mail postcards, open house invitations, etc.). During this time there is a delay in showings on the property for a week. That following Thursday, I launch the showings on the property. I let all the showings happen on the weekend and then have a best and final offer presentation due by Monday. I just did this on a property last month, 13 offers in 72 hours and almost $30,000 over asking. Does it work every time, no, but at this point in my career, every time I have done it, I have had success.
Just remember the good old saying; people want what they can not have. Just like people getting into an event, club, or restaurant. Status is everything and I have found a way to roll that into my business by creating the listing that EVERYONE wants.... more
Consult with a good loan officer and that person will tell you what you need to do to refi. Your question can be answered responsibly only by a qualified expert after discussing your personal situation. Contact me if you want the names of the loan officers I have seen do a good job.... more
Hi Angie, the tax records show that the address at 100 Cynthia Loop only sits on .5 acres +/-. It is currently assessed at $105,500.00 but the median sales price for the area in the past three months is $88,000 and the parameters of the data are home sales within a 2 mile radius and type of construction is manufactured housing. SFR does mean single family residential and that has more to do with the zoning than the type of construction i.e. manufactured housing, or site built. I can provide you with detailed market conditions that will help you plan the sale of you house and set some reasonable expectations that are tied in with comparable sales and adjusted for your mom's superior features or inferior features. You can expect professional work and professional results.... more
I live in Ventana Vista and I do not set my alarm,,,I do have a dog,,Burgulars dislike tow things Dog's & Lighting at Nite,,I have attended the Ventana Ranch Neighborhood Home Owner's association meeting's often time the West Side Police Commander attends,,they will assist you in setting up a Neighborhood watch program,,Sorry you don't feel safe I bought in Ventan Ranch like you because it is a Strong Family Community,,Parks'Trails,,HOA,,etc... more
There are arguments for both sides, but you have to decide which side outweighs the other. I own rental properties and represent investors. I am currently looking for and recommending buying rentals right now. The reasons are that even though we might see a little more drop in value, I don't think it is going to be that much more here in Albuquerque, although the west side will probably take more of a hit than the east side. If your partner wanted to cut and run, why didn't he sell last summer? I think most of the drop is in now and we will begin to stabilize. We are also at the bottom of the interest rate valley, so if you have a locked low rate loan on the property (or can get one) , then holding it is a great inflation hedge - which I expect simply because the value of the dollar can not hold with the printing presses on overtime! It may not be this year, but it is coming, and what better way to be prepared than to have a locked loan under 6%, giving you plenty of flexibility. You can hedge against inflation with precious metals, but real estate can also work. I also happen to think the rental market will remain pretty strong and then housing demand has no choice but to eventually return - the brakes have been slammed on production (building) in this country, while household formation has not changed much at all! As the recession recedes, families will not be doubling up as much, and there will be a noticeable pent up demand that must be satisfied, which can not be satisfied over night - it will take time to ramp residential production back up. So, in my opinion, if your partner wanted out, he should have done so before before last year - before riding down this much. If you have good tenants willing to stay another two years, I would surely hold that house - you might even consider buying your partner out so he can pack it all in and run for the hills (if he's right, we might all wish we did that). Call me anytime to discuss in more detail. Best of luck to you CRM!
Oh yeah, the new appraisal guidelines are causing some issues, but they will be ironed out - they should definitely not play into the decision of whether or not to hold this property in any way!... more