In my humble opinion there is a buyer for every house and there are really only two factors that make up the bulk of the success or failure of it selling. It does not matter what the market conditions are and it does not matter the condition of the house if these two factors are done correctly.
First is price. I once sold a house that was half burned down and wasn't even habitable. Because the price was what it was supposed to be. Price the house according to the condition of the house, the condition of the market and the comparables that support it's fair market value. The best house on the planet and the best realtor in history are unlikely to get an overpriced house sold. Know how you can tell a house is priced incorrectly? Look at average market time for that area and price segment. If your house has been on the market more than 150% longer than that, then the market has spoken. Either adjust the price or take it off the market.
Second factor is exposure. Even if the house is priced correctly but nobody knows it's for sale it is also unlikely to sell. You and your realtor CANNOT impact the value of the house. The market dictates the value and price. But your realtor CAN impact how much exposure it is getting. The more people who see and see it in its best light with its best face on, the better your chances of finding your buyer (it only takes one). With that said, don't expect your realtor to spend a million dollars advertising an overpriced house. All the advertising in the world is not going to change the market value.
So there you have it. Those are the ONLY two factors involved in selling a house. Some say, "the condition of the house" or the market direction or this or that etc etc. EVERY other factor will fall under one of these two major headings. It's all about price and marketing properly. After that then it's all about negotiating the best deal once you have a buyer on the hook.
Good Luck and Happy House Selling. Keep on the Sunny Side.... more
It depends on whether you are the seller or buyer. If seller, it may mean a postponement while the bank works on a modification or a short sale. If you are a buyer, it may be an indication that the property is no longer available unless you are the party in the contract. You may want to smit a realtor who can point you in the right direction through our expertise and referral partners.
Suzanne Looker... more
Auctions are held regularly. Generally, they take place on the Courthouse steps. A list of the auction properties and corresponding auction dates can be obtained from your county courthouse.
There are websites that collect this data and republish for a fee, RealtyTrac and Foreclosure Radar. I like to refer to these sites as 'snake oil salesmen' because all the information is readily available for free.... more
Laurie, there are additional resources at the link below , "Mortgage Workout Programs for Homeowners," compiled by the California Assn. of REALTORS.
It is very distressing to see SPAM and blatant loan modification solicitations aimed at a homeowner facing foreclosure. I have flagged several offending posts in this thread and I will remove them this afternoon.
Frances Flynn Thorsen