Linsey Planeta

Hi Jacqueline,

I have to congratulate you on your proactive approach to planning and strategizing early. Thom has given some very wise. I would even suggest talking to a lender (an exceptional one that looks at your long term strategy) and find out if there are ways to improve your credit over the course of the next year.

I would also get clear on the things that are most important to you in your new home and zero in on the city(s) and neighborhoods that interest you most. Over the course of the year, I'd be monitoring the inventory in those areas. Watch the market, prices, and conditions so that when you are ready - you are well educated and informed.

Don't hesitate to call me if you ever should have a question. - Fri Nov 14 2008, 20:51

I would speak to a local agent and/or real estate attorney. The could sell the property and have the lien satisfied with the funds from the sale of the home as long as there is enough equity after the sale and closing costs. If they are already in default, I would get in touch with someone ASAP. The sooner you start the process, the better off you are. - Thu Nov 13 2008, 18:35

I'm not sure that it's realistic. The monthly is too low.

In addition, true lease-to-own situations require 'option money'. Option money is usually a significant deposit that would go towards your down payment if you exercise the option to buy. If you fail to exercise your option - you lose the option money.

I would encourage you to save as much as you can, keep little or no debt, protect your credit and talk with a good lender that can help you set some objectives and a long term plan towards home ownership.

All the best to you Alan. - Thu Nov 13 2008, 16:39

Rockinblu,

Thank you for that. I have so appreciated you acknowledging my work on that blog. It's not done with the intent to get new business as it's primary job. It's primary intent is to serve sellers within and outside my marketplace. Thanks so much for noticing!

Hope it's helpful to you Mary. - Thu Nov 6 2008, 16:56

Rockinblu,

I agree that photos are certainly not above price. My list of to do's to attract buyer showings is certainly not in order of importance. Price is always first and foremost.

I have no problem with a lot of photos but I see so many agents put in photos that don't tell a story, intrigue a potential buyer, or draw emotion. The post on my blog attached is an example of that. Photos in and of themselves, are not valuable unless they inspire the imagination of a buyer that is looking for their next 'home'. - Thu Nov 6 2008, 12:03

No question that checking sold sales is the most meaningful indication of prices.

I appreciate the open house advice but I'm not sure that is a solution. Rarely do homes sell via an open house. If you do one, it must be well exceptionally well marketed and advertised online (where buyers are looking). Otherwise, you are just hoping to get 'lucky' when someone drives by.

Curb appeal plays a role - but only to those that show up.

The first concern is getting people to come see the home. You need an 'at bat' so to speak, to even have a chance of hitting the ball. What attracts people to want to see your home?

Superb Photos
Exceptional description
Online Exposure
Price

With regard to price, it's critical to understand the market you are in. In my market place, the homes that sell aren't just priced at market value. With the state of the economy and the overall housing market, buyers only are willing to take the leap on homes that are a 'good deal'. When they stand around the water cooler at work justifying buying in this market, they want to be able to say, 'I got a great deal'.

If you have to move, and you don't want to lease the property, price it to get showings. Then, of course, make each showing count by keeping your home in spectacular showing condition.

Hope this helps. All the best to you and good luck. - Thu Nov 6 2008, 10:23

Here's another link for a comparison as well:

http://socallistings.marketlinx.com/SearchDetail/Scripts/CMA…

I also will be posting analysis on my blog related to foreclosure and absorption rates. Let me know if you have any questions. I'd be happy to help.

http://www.ocrealestatevoice.com - Tue Nov 4 2008, 09:00