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Home Selling in Capitola : Real Estate Advice

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  • Home Buying2
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Activity 3
Wed Sep 26, 2012
Ron Thomas answered:
LISTING PRICE
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
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Tue Sep 25, 2012
Erica Pittman-Gaynor answered:
Hi Beach Bum @ heart-
Love your sign off name. National Association of Realtors tracks marketing and results received annually and in 2011 23% of Buyers used a home book or magazine as one of the tools to search for their home yet when asked how buyers found the home the purchased only 2% said it was from a magazine or newspaper ad. In my experience you're going to get a lot of 'lookers' but not a lot of buyers. A good agent will spend their marketing dollars in one of the top three tools buyers use to find the home they buy. That includes marketing to other Realtors (38%), Internet presence (37%) and yard signs (11%). Please don't hesitate to contact me if I can be of further assistance.
Erica
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Tue Aug 26, 2008
Patti Lyles answered:
I proved anyone who calls me or emails me with a product call MarketSnapshot.

I have Snapshots for all of the County that are accuare even if you wanted one older than 2007.

Happy Trails to you . . . until we meet ♫

Patti Lyles - the REAL Performer
Century 21 Showcase, REALTORS ®
DRE 01385517

PHONE: 831-335-2100
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