Svetlana P. Casey

The number of days on the market before a property is sold is significant information for a buyer when deciding on an offering price. For example, if a buyer were interested in two very similar properties - one that had been on the market for 210 days and the other for only 10 days - the buyer would make a lower offer on the one for 210 days thinking that the seller is probably desperate to sell and would accept a lower offer whereas the other seller would not take a lower offer yet. Buyers may also feel that there might be something wrong with the house or someone else would have already purchased it. For educated buyers, usually what is "wrong" is the price is higher than the buyers' perception of value of the house.



What does that mean for sellers? Every day a property is on the market the price goes down in the minds of buyers. That is why a property sells at its highest price in the first days of exposure to the market. There is another reason for that fact. The buyers most ready to make an offer in the first days are the seasoned buyers who have been educated about the market by a REALTOR® and can act immediately because they have the cash or a mortgage pre-approval letter. If the price is too high initially, they move on and wait for another to come on the market. Sellers should therefore position their property to sell when it first hits the market.

I hope it helps to understand how today’s market is working..

Cheers,
Svetlana Casey - Thu Oct 2 2008, 09:52

Hi Mznova,
I cannot agree more with Ralf Janisch's statement that you MUST make sure that your home is READY to sell. He gives your simple steps to achieve it.
• I just want to emphasize the importance of de-clattering the space. All of your decorating items must go. Take away all religious, ethnical and personal items that can prevent potential buyers from associating themselves with the property. The interiors of the space should appeal to both sexes. Investing in professional interior design services will pay you off. You house should appeal as well organized space with clear idea of room functions.
Ask a "buyer"
• Invite friends-female and male to walk through your home like a buyer would. Get their opinions on whether or not it's inviting, clean and well-maintained. Make any changes they suggest.

As a seller Mznove, you need to tell your real estate agent what is most important to You-Pricing or Timing and Why.
• Then your real estate agent who you comfortable with and Available for you (some experienced Realtors are often too busy) can Educate you to current Market conditions and concepts.
• Create the perception of Value of your property to stimulate the buyer’s pool to bring offers.
• Negotiate you top dollars for your house.

Sincerely,
Svetlana Casey - Thu Jun 12 2008, 10:19

Please find helpful Coldwell Banker information for your home buying process.


http://www.hud.gov/buying/index.cfm
http://www.prefmtg.com

Scott M. Dillon
Senior Loan Officer
Preferred Service Mortgage
202 957-4998 cell

http://quickfacts.census.gov/qfd/states/
http://www.registeredoffenderslist.org
http://crimemap.dc.gov/presentation/query.asp
mpdc.dc.gov/mpdc/cwp

http://www.culturaltourismdc.org/calendar2532/calendar.htm


Svetlana P. Casey
(301) 509-9973 Cell
(202) 387-6180 Office
(202) 387-6185 Fax
scasey@cbmove.com
http://www.cbmove.com/svetlana.casey - Fri May 9 2008, 11:02