Katharine's Realty Blog

Next up Part 2 IF IT’S NOT SELLING, IT’S NOT COMPELLING! In the first home selling post, I stressed the importance of getting the price right the first time listed, and why it’s important to have an agent with DEEP knowledge of the neighborhood. In this segment, I’ll tell you about what to do if you get it WRONG, and the next post how to make it RIGHT. Details matter in real estate! As I said, the EXPIRED/WITHDRAWN category should be avoided, whenever possible. Re-assessing the property’s value should be done asap, by a professional appraiser. Although a knowledgeable agent should be able to use comparable properties to evaluate price, sometimes there are issues missed. Take for example, lake properties built with large walk-out basements, tricked out with fine amenities. But, come selling time, even the finest of finishes do not add value to the “below ground” square footage when appraised, because of regulations by Fannie Mae. Even now, 90% of homes are purchased with mortgage

GET THE PRICE RIGHT From the start!  Part 1        When selling, getting the right list price for your home is critical.  If you or your agent gets it right, your home will sell for maximum value, and least days on market; saving you time and money.     Get it wrong, and one of two things will happen: First, get it wrong on the low end, and a tsunami of offers will arrive after listing goes live.  Sometimes a bidding war is desirable outcome in a hot market; other times its just the wrong price. I know a seller who got 18 offers in one day, and thought “Wow” this is great, but there wasn’t the price boost expected from multiple bidders.  If the agent got the right price point from the beginning, they would have made more money and saved a lot of time dealing with offers.     The second possible outcome when the price is wrong, is that few, if anyone looks at your property.  Maybe some lookers at the beginning, but no offers; tire kickers only. Your house will likely fall into t