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Home Selling in Lafayette : Real Estate Advice

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  • Local Info3
  • Home Buying12
  • Home Selling3
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Activity 6
Mon Nov 17, 2014
Brian Rochford answered:
Hi Ginny - Unfortunately, there are some agents that are not technologically savvy, and/or they don't think to double check their listing on sites like trulia, zillow or realtor.com to make sure that all of their photos uploaded to that particular site. Having said that, there are listings that agents take on, that have exclusions to posting photos to the general public. For example, if the property is leased out to tenants and/or the seller is a very private person and does not want their interior photos posted on a site like this. Conventional wisdom says that those listings will not move as quickly nor get the additional feedback and response that a property that have 30+ photos.

In any event, if there is a particular property that you had your eye on, but there was limited photos shown, drop me a line and i can see if i can send you additional photos.

Thanks and good luck in your search,
Brian

Brian Rochford
CalBRE#01470068
Tom Rochford Real Estate Co.
(925) 285-0439
brian@tom-rochford.com
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Tue Jul 23, 2013
Ron Thomas answered:
Most importantly;
KNOWING someone is not a disclosable "relationship".
You had to have signed the form for her to represent you both in a Dual Agency Agreement.
You had the chance to read all the documents, include that you were paying for the Warranty:
You cannot blame these things on her!
You don't mention how much the selling price was, but I can imagine.
You have sold the house, which was your objective, and now you taste sour grapes.
Get over it, and move on.
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Fri Jan 25, 2013
John Souerbry answered:
If the property is held in an estate in probate and there are beneficieries other than yourself, I highly recommend you skip talking with an agent at this point and get an appraisal from a licensed appraiser. If the property turns out to be worth more that $2M, perhaps a couple appraisals (we have a business property in downtown Lafayette and I'm surprised how well its held its value). If you are the executor of an estate you have a requirement to to show a realistic value in the IRS Form 706 filing and to receive the highest possible price when you sell. Check with your attorney to see if the Probate Referree has set a value, but still get an appraisal before you start working with an agent. ... more
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Tue Dec 6, 2011
Sherry Saudi answered:
Every s often the real estate market cycles.
After each cycle the properties appreciate.
Look at the Market that your interested in and check out the sales activities perhaps that area is already improving.Every region will be different.
Sherry Saudi
Johnstone and Johnstone-
Office 313-884-0600
Cell 888-395-0478
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0 votes 13 answers Share Flag
Mon Aug 8, 2011
The Medford Team answered:
Sonia:

To be honest, these stats do not have as much value as many assume:

Q: What is the average days on market?
A: This TOTALLY depends on the house, condition, price, marketing, current market conditions … AND your Realtor. Homes that are prepared well, priced competitively AND marketed well have a habit of disappearing off the market very quickly, regardless of current market conditions. The better a home is prepared AND the better it is priced, the better a “deal” it appears to be thus more attractive to buyers. In fact, these homes can quickly garner multiple offers and be off the market in a few days.

Sellers always ask me what my DOM ratio is – it’s really a worthless number. I tell my sellers, “Quite frankly, that depends on YOU.” As an example, if I have a non-FHA approved condo in poor condition and a seller who is unwilling to price it correctly … it could be there a long time no matter how aggressively I market it. Using the DOM as an evaluation of my abilities as an agent would be worthless in this case. On the other hand, if I work with an extremely motivated seller who understands the basics, lets me prep the property to the max and prices below the market – I look like a genius with an extremely low DOM number. Again … in light of the overall market – a meaningless number.

IF, however, your home has been sitting on the market a long time, DOM can be used to identify that the property has some issues, could be priced too high … etc. In that case, DOM actually has value – not for the market as whole, but for that particular property.

Q: How does that change from listing date to sale date.
A: DOM is usually measured from list date to pending date.

Q: How many homes sell for original list price?
A: Again, this is a rather worthless number – some listing agents are willing to set list prices too high simply to get the listing. If that particular agent has a number of homes on the market that are overpriced, the list-to-sale price ration is worthless because many homes were valued too high to begin with. In addition, since this is an average number, it does not reflect property condition from home to home, nor is it a reflection of how the home may have been improved, staged, marketed, etc.

If the area has a number of high-end homes that are priced “optimistically” and not selling, yet the bottom of the market is red hot with well-priced homes, then the list-to-sale price ratio could be off by many hundred thousand dollars. As an example, average list price could be $1,150,000 but average sale price could be $780,000 … a huge and meaningless differential. It does not mean a home going on the market at $1,150,000 will sell for $780,000 … it simply means that the lower priced homes are selling and the higher priced homes … are not.

As an extreme example, if you look at the average list price of Clayton, it is $934,000. Average sales price is … $464,000. ???? Unless you know that there is a home on the market for $6,000,000 and 8 homes priced over $1,000,000 (out of 47 homes) – one with DOM of 644 days, one at 530 days and others at 345, 207, 160 … the numbers can be absolutely meaningless.

I’d recommend you meet with a couple of agents and discuss the local area numbers with them – make sure they explain them to you CORRECTLY – you can use stats to prove almost anything and, in many cases, be dead wrong.
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Wed Feb 20, 2008
Bill answered:
To the people that think smart buyers are waiting for lower rates, YOU'RE WRONG. Interest rates are already low. The problem, the 500lb gorilla in the room, is that the last few years of free money, fraudulent lending and specuvestors have caused house prices to double and triple. The PRINCIPLE is too high. Without wage increases, unlikely with globalization pressures, or massive inflation, the only other variable is pricing, and the correction IS occurring in case you haven't noticed. ... more
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