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06268 : Real Estate Advice

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Activity 2
Sun Jul 5, 2015
Bunnell.heather asked:
Mon Nov 11, 2013
Greg Hanner answered:
Hi Barbara,

Sorry to hear of your lack of progress. Hearing your home has been on the market makes me feel that it may still be priced above what the current market value is even though you've done a price reduction. You can validate whether that is true or not by commissioning your own professional market appraiser. I'd check with a few local lenders and as your agent for a few names. The cost should be in the range of $350-$400 and doing that will provide you with insight into what a prospective Buyer's lender will tell them your home is worth for the purposes of them securing a mortgage.

Have you cross checked your listing against others? Is it complete and does it have good quality photos, good directions and information available at prospective Buyers and Buyer's agent's fingertips? Most MLS's allow your listing agent the ability to attach PDF's of your property survey, any tests records, your property disclosure, and even a list of special features (accessible only by Buyer's agents) that highlight what's special about your home. Also cross check the mapping in Realtor.com, Zillow and Trulia. Your agent can tune those to be correct.

Finally, the elephant in the room "DOM - Days On Market". Don't kid yourself that you can "reset" the lack of your selling your home buy pulling the home off the market. Any Buyer's agent worth anything will pull the property history and all prior pricing and listings are there for consideration. I just put together a blog post on this topic here: http://tinyurl.com/l4naeq2

Hope this info helps.

Greg Hanner, Broker, REALTOR, e-PRO
www.GardenRealty.com
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