Two Tips to Get the Most Money From the Sale of Your Home
Two Tips to Get the Most Money From the Sale of Your Home. Every homeowner wants to maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensure you get the highest price possible.
1. Price it a LITTLE LOW
This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).
Two Tips to Get the Most Money From the Sale of Your Home
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.
Realtor.com gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”
2. Use a Real Estate Professional
This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional. A new study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.
Two Tips to Get the Most Money From the Sale of Your Home
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”
The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.
Bottom Line
Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
[gravityform id=”15″ title=”true” description=”true”]
Wells Fargo Finds Foreclosure Mistakes…Issuing 55,000 "Supplemental Affidavits"…Whatever That Means?
Wells Fargo...shame on you... Foreclosure is a serious process and WF treats it like an assembly line...with Robo signers! What is a "supplemental affidavit" any how? Something one of your "legal" eagles (senator or congressman no doubt) came up with to avoid...
More Lenders…More Foreclosures…More Unemployment…What A Mess!
Home Prices…More Foreclosures…More Short Sales…Home Values Hard To Predict
Treasury's HAFA Program Falls Short at End of 3rd Quarter
Breaking news! Today it was reported to congress, at end of 3rd quarter 2010, Home Affordable Foreclosure Alternative (HAFA) successfully completed 342 Short Sales or Deed's in Lieu...report. The HAFA program was introduced April 5, 2010...with Freddie Mac and Fannie...
WSJ Reports Bank Of America Finds High % of Errors in Foreclosure Filings
It was reported by Wall Street Journal that Bank of America found numerous errors in the first of what will be thousands of foreclosure re filings in 23 states. This really comes as no surprise as BofA assumed Countrywide and Countrywide's shoddy practices... BofA...
President Obama..White House Breaking News On Foreclosure Situation
Administration Shifts Focus on Foreclosure-Gate…More Short Sales
As I suspected would happen, the Obama administration is changing the foreclosure conversation. With the announcements from Bank of America [BAC 11.57 -0.23 (-1.95%) ] andGMAC that they have not found any major paperwork flaws and are resuming foreclosure sales...
Angelo Mozillo Former Countrywide CEO Settles SEC Charges with a $67.5Million Slap on the Wrist…How about Jail?
According to DS News...The monster from "The Valley"...(San Fernando Valley, CA) finally is paying the piper...but is he. It just goes to show that money talks get's you to walk from what is tantamount to nothing more than fraud and stealing. The full story is...
Over 100,000 Bank Repo's in September…Highest on Record…California Represents 21% of the Foreclosures! I Smell Short Sale
A total of 102,134 bank repos, where borrowers actually lose their homes to foreclosure, were reported in September, up from 95,364 in August. “Lenders foreclosed on a record number of properties in September and in the third quarter, taking a bite out of the backlog...
Inside the Mortgage Mess…Foreclosures on Hold for How Long?
Foreclosure Fiasco…Robo Signing…How Big Is the Problem?
The Foreclosure Halt…How Will It Impact Housing Recovery
Mortgage Lenders Committed Fraud: Rep. Waters…Halting Foreclosures
Rep. Maxine Waters, (D-Calif.), defended on CNBC Wednesday her call for a mortgage modification and a moratorium on home mortgages for those Americans who are unable to make their loan payments, as a way of allowing them to keep their homes. “There are people who...
Foreclosure Fraud Is It Worse Than We Thought?
There has been plenty of pontificating over the ramifications of foreclosure freezes on troubled borrowers, foreclosure buyers and the larger housing market, not to mention lawsuits, investor losses and bank write downs. There has been precious little talk of what the...
‘Larry the Cable Guy’ says Git-R-Done! Lists His Florida Home for $1.55 Million
Blue Collar Comedy veteran Dan Whitney, more popularly known by his stage name “Larry the Cable Guy,” is ready to ‘Git-R-Done’ with the sale of his longtime, 20-acre estate in Sanford, FL. It is now on the market with an asking price of $1,550,000. Whitney first...
Title Insurers Not Selling Title Insurance to Loans Affiliated with Foreclosed Properties
So...what does this mean? If your thinking of purchasing an REO property or foreclosed property with a loan ...the likelyhood is that it won't happen anytime soon. Title Insurers are pulling the plug until the Robo Signing matters can be cleared. With millions of...
Bank of America STOPS ALL FORECLOSURES In ALL 50 STATES…Expedite Your Short Sales
Bank of America will stop foreclosures in all 50 U.S. states, CNBC and the Wall Street Journalreport. Last week the bank, the country's biggest by assets, announced it was halting foreclosures in the 23 states where foreclosures are processed in court, saying it...
I Just Did A Short Sale, Now I Need To Rent…Help! Avoid Someone elses Foreclosure
Recent experience working with our Short Sale clients have brought an onslaught of new concerns as they move into their next "phase" of recovery. "Renters" for a few years... We are in a volatile housing market, the fact is 1 in every 6 homes with a mortgage is behind...