Category Archives: Home Sellers

Sellers: Create urgency for buyers, and get your home sold

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 If your home lingered on the market in 2010, you may need to take the bull by the horns to get it sold in 2011.  Cut your price to a level slightly below the recently sold comparables; even if you’ve cut the price before, this can create a pricing “sweet spot” where buyers recognize the value and get concerned that such a good deal won’t possibly last.  Same with condition – primp and spruce your home so that it shows so much better than the other homes in your area that buyers will see that they feel compelled to leap off the fence. 

I think this article from “Trulia” really makes a lot of sense.  This is a great time for buyers, but that doesn’t mean that sellers can just sit back and expect their house to sell as a result of low prices and super low interest rates.  Sellers need to make an effort, stand out from the competition and really give nervous buyers a reason to buy.

Source: Trulia

Patient Buyers May Save Money Over Tax Credit

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Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do.

Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting until May.

At April’s average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,561.82.

The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625 percent in May and paid $1,439.59 per month.

That’s a $1,467 annual savings. Over 30 years, it’s a $44,003 savings, dwarfing the tax credit.

Source: Informa Research Services (05/26/2010), Realtor Magazine (5/27/2010)