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Home Selling in 20001 : Real Estate Advice

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  • Home Buying21
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Activity 42
Tue Apr 23, 2013
Patricia McGuinness answered:
Although it's natural for homeowners to be curious and want to stick around when their property is being shown, it's best to make yourself scarce and let the agents handle the showings.

This is true for a number of reasons:

1. You might not like what you hear. Prospective buyers may think your wall color and carpet choices are "hideous" or think your perfect home is a "total gut".

2. The prospective buyers might not like what they hear from you. Say the wrong thing, even for the right reasons, and you may send a potential buyer heading for the hills. Or worse, give them a nugget of information they will use to their advantage in the negotiating phase.

3. You want potential buyers to start visualizing themselves making this their new home - not moving into your old one. So you need to vacate the premises - both physically and metaphorically. Depersonalize your home as much as possible prior to the first showing. Take down the baby pictures and clear your fridge of Grocery Lists and gas receipts. Sell the dream, not the day-to-day.

Your goal is to sell your home and move on. So start moving on emotionally before you even put your home on the market.
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Tue Feb 19, 2013
Patricia Kennedy answered:
Al, I think it's important to make a distinction between listing photographty and video.

Professional photography is probably the most important element of any marketing plan. I'm a good photographer with some great equipment, but I have all of my listings done by a pro. The photos are important for both the listing and for the brochures that the we put together.

Video, as it is used by many agents, is merely phtots that are loaded into a program that pans the still shots and plays weird background music. My firm has access to it, but I'm not totally sold. It's slow to load and hard to watch. And the agents who do come in with a real video camera - well there is a whole lot of really bad video out there. Even some of the professionals do a bad job of filming homes. It's sort of a new thing.

Video is supposed to iincrease SEO, but so will properly syndicated still shots of a property.

So great photos are crucial. Video is still more of a gimmick - oh, and one that I'm starting to get into. But, like my colleagues, I'm not ready for prime time with video - either for listingts or blogs.

Patricia Kennedy
Associate Broker
Evers & Company
202-549-5167 (Blog) (email)
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Tue Jun 17, 2014
Joseph Roraff answered:
In my opinion it is probably because they are a lot more complicated than just regular housing. Here is a link to a good article...
0 votes 18 answers Share Flag
Fri Jun 15, 2012
Help your broker out with comps and any information so they have every piece of information as to why the appraisal is low. I would also find out from how far away the appraiser came. We all have a problem with out of market appraisers coming into markets they don't know and shouldn't be working in. Be detailed and specific about why they were less desirable sales. Have you seen and reviewed the appraisal also? Only you may know certain things to make sure the appraisal is as accurate as possible. Also your loan officer can't speak to the appraiser directly but you can. Run that one past your loan officer first but all is not lost, stay on them and fight! Good luck and I hope this was helpful.

Brent Mendelson
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states
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Fri Jul 27, 2012
Shanna Rogers answered:
Hi Anne,

You say the unit is for sale for less than $60,000. The list price is irrelevant. It's the SOLD price that affects the other units for sale. Once the unit listed for $60,000 sells, the price it sells for will be used as a comparable property for the pricing of the other units that are for sale. If the $60,000 unit is underpriced to get a quick offer (some agents do this in the case of a short sale ready to be foreclosed on) it most likely won't sell for $60,000 if the current market value is higher.

Shanna Rogers
SR Realty
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Sun Dec 29, 2013
Sid Fields answered:
The condo market in the area is improving. I will be happy to give you an estimate of value for our condo, if you are considering selling it. Sid Fields, Heymann Realty, 301-439-1180.
0 votes 11 answers Share Flag
Mon May 14, 2012
Zaza Pasori answered:
Your best bet is to use price per sq ft approach. I would find out the average price per sq ft in your neighborhood, and multiply that by the size of your studio.

Zaza Pasori | Realty Resource, LLC
Home Office:2722 Connecticut Avenue
NW 72, Washington, DC 20008
Cell:202-412-5221 Office:703-437-5580

Equal Housing Opportunity

Principal Broker: Realty Resource, LLC 715 Tonquin Pl, Leesburg, VA 20176
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Wed Jan 29, 2014
Scott Godzyk answered:
If you are under contract with a buyer you can not enter into a 2nd purchase agreement to buy teh same unit. You would have to end the first and complete a second. The bank will not talk to you and give you any kind of firm decision without an offer in writing and short sale package. using an agent who is well expereinced in short sales and who is using a professional negiotiator on your behalf is in your best interest. the negotiator can negotiate what will become of your short fall. ... more
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Fri Jul 27, 2012
Nicole Richards answered:
I love being asked about Ways to Increase a Homes Value Before Selling! As a Realtor and an Accredited Staging Professional it's a question that hear almost daily. The answer is simply that improvements come in all shapes and sizes and can accommodate almost any budget. I'll start from the top with a few good suggestions...

Kitchen: This is the room that is at the top of ever buyer's list. Improvements in this area tend to be a little more costly but have the greatest return. Cabinets should be clean at a minimum. If you are planning on remodeling consider real wood over laminate, add some frills (wine rack, spice rack pull out, etc), and moldings add a finished detailed look to any cabinet.

Appliances: New appliances are a great upgrade and a big plus in the buyer's eye.

Counters: Countertops throughout the house are a nice upgrade too. Consider natural stones as they tend to have a broader appeal.

Easy home improvements that can be done by the owner and are gentle on the budget include: Fresh looks clean and smells good. It also clears out most odors in the home that are due to pets, cooking, and smoking. Consider changing plumbing fixtures and faucets in baths and kitchen, and lighting fixtures too. These are so easy and very cost effect updates, and they are very noticeable.

Curb appeal, your front door, and windows: Clean your windows inside and out. Nothing blocks out the sunlight and screams 'dirt' more than years of pollen, spider webs, and bird poop on windows. Screens should be cleaned too (and preferably removed and stored altogether for showing). Invest a little time and money into making the walk up to the front door pleasant and inviting. Flowers, stonework, fresh paint (no chipping), and healthy shrubbery all say, "Welcome!...I care about my home!!".

As an Accredited Home Staging Professional and Realtor my mantra has always been, "First Impressions Last". The first few seconds that a buyer sees your home will leave them with a lasting impression. With a little effort that impression will be that you loved, cared for, and updated your home. That's an impression you can take to the settlement table!!

Whether a homeowner is selling or staying, I love helping people get the most out of their home. If you have questions about home values I am always happy to help! Give me a call anytime.

Nicole Richards
Keller Williams Realty
Licensed in Virginia & Maryland since 2001
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Sun Dec 18, 2011
Dan Tabit answered:
I read and commented on another post. This is beyond our capacity to deal with. Once the courts are involved it comes down to whose lawyer can beat up the other lawyer. My advice, had you asked early on, would have been the same advice I give here often, get the best representation possible. A good agent, or in your case Lawyer is worth their fee.
I'm sorry for your difficulties.
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Thu Jan 17, 2013
Amy Fisher answered:
A good rough calculation is between 4-4.5% of the sales price. if your loan has points (aka loan origination fees) they will be in addition to the above percentages. Your RE agent has a form that can break it down for you. ... more
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Sat Apr 2, 2011
Melissa Barkalow answered:
I would talk to a code consultant to be sure, but I would have my doubts. A code consultant can tell you for sure what DC code is and if by adding doors that it triggers any change in the classification.

Good luck!
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Sun Sep 12, 2010
T Carter answered:

What's the MRIS ID or address? I'd like to compare it to Trulia and other sites to see where the error may stem from.
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Wed Jun 30, 2010
Gerald Seegars answered:
You should be fine. I am going to closing on the sale of a 1260 townhouse also located in Alexandria on Wed. Buyer is gong VA (100% financing) and this had no impact on the appraisal. The appraiser used comps of recent sales and not the assessed value. For the most part, the sales prices have increased in Alexandria City since last year. Besides, I think there would be some serious legal issues to address if a lender/appraiser reduced or discounted the value of property because someone use an FHA loan. ... more
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Tue Jun 26, 2012
Don Tepper answered:
Your challenge--as you've noted--is that you're not likely to net $17,000 on the 1 bedroom condo in Dupont Circle. If you can e-mail me the address, I can tell you what it9;s currently worth. (Not trying to get your business, since I'm not licensed in D.C. However, I'm very familiar with D.C.--I lived in both Georgetown and the Logan Circle areas, and my sister owned a condo right on Church Street near Dupont Circle.)

So, the hurdle you've got is the Dupont Circle condo. It's easy for an agent to submit an offer quickly--that can be done in a matter of hours.

One suggestion: There may not be too much you can do creatively with the Dupont Circle condo, but there are a number of ways to get creative with your offer on the new place you're looking at.

And I'd be glad to refer you to a Realtor in D.C.

Hope that helps.
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Tue Mar 30, 2010
Alexandra Sardegna answered:
Hi Alan! I am very familiar with The Lincoln as one of my close friends has lived there since 2003 and I have shown several units in the building as well, including a 2 bedroom rental on your floor. I would be happy to meet with you to discuss your options further, or just even to send you some comps for both sales and rentals in The Lincoln and in the U Street neighborhood overall. Feel free to shoot me an email at, or give me a call at 202-486-5399 (cell), and we can chat more about it. Thanks and hope to hear from you! ... more
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Thu Feb 11, 2010
Harold Sharpe answered:
HI Silvana,
Actually the final walk through in most areas of the country are NOT a condition of the sale.
You might want to review your contract with a real estate attorney and ask the question. In my opinion, and I can not say for sure, I do not believe this is the case.
I can see arguments going both ways, however It is my opinion that it is an informal check up on the house.
Seller is to allow access. The seller did not make it snow. Just the same if the streets were flooded, I don't believe the seller has to clear the streets. Have to make access or allow access may be the key words to recognize here.

Just one opinion I am sure there will be more.

Harold Sharpe
So Cal Homes Realty
(951) 821-8211
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Sat Jan 16, 2010
James Downing answered:
Does the home need work? Is it in bad location?
I tell sellers the way a buyer is going to view the property. Good or Bad.
I would be more worried about an agent who said the home was *perfect* just to get the listing than someone who tells the way the market will view it. ... more
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Tue Dec 29, 2009
Sp, your friend would have to speak to a tax pro, but here is my answer based on past experience.

Both laws are still in affect, but only your rule would apply in this case.

Your friend is referring to what is called a 1031 exchange. A 1031 can only be done if you sold an investment property and are buying a new investment property. They don't work for primary residences.

What you are referring to is up to $250,000 (if single and up to $500,000 for a married couple) in gains being tax free for a homeowner selling their primary residence.

The gains don't have to be rolled into a new home.

I hope this was helpful, and again, he should speak to his tax pro.

Good luck.
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