So You Want to Sell Your Home - Lucky Part 13 - What's Cooking in the Kitchen?

A few posts ago I provided a list of how buyers prioritize the areas of the home they are viewing. After the curb appeal and the entryway, the most important area is the kitchen.

Today's kitchen is not longer the sole domain of the woman. More and more men are spending time in the kitchen doing the cooking. In my home I prepare most of the meals, although I do admit, my wife does most of the cleaning. Men don't just grill anymore, we bake, we steam, we souffle, we cook!

What does that mean? It means the kitchen now has to appeal functionally and attractive to buyers of both genders. The counters have to appear spacious, the cabinets accessible with a lot of storage, the lighting bright, and overall, movement between prep area to cooking area to serving area clear and uncluttered.

So what are the steps to making your kitchen appealing?

• Clean your kitchen until it shines - every square inch of it, paying special attention to the stove, oven, sink, counters, floor and refrigerator.
• Take care of any maintenance issues, fix your leaky faucets, replace faulty burners, replace burned out light bulbs. Make sure your drawers and cabinets open easily and without squeaks. Replace broken or worn drawer and cabinet pulls. Make sure any exhaust fans, as well as built in appliances, such as disposal, are all in working order.
• Empty the kitchen counter surfaces of all but the most often used and needed items. The more open counter space the more appealing the kitchen.
• Empty your cabinets and only return items that you use regularly. If you have place settings for 12 but only use 4, put at least 6 in storage. Put seasonal items, like Thanksgiving platters into storage until needed. Get rid of items that you don't use (like that second toaster) or put them into storage.
• Clean out your refrigerator and pantry. Get rid of old out dated foods. In the refrigerator, get rid of any fuzzy "science projects". Make sure the shelves and surfaces are clean. Keep only enough food for a couple of days in both the refrigerator and the pantry. Keep an open box of baking soda in an inconspicuous place in your refrigerator. And don't forget to take all those post its off of the refrigerator door.
  
• Wash your dishes after every meal. Ok, this one might be tough, but dirty dishes in the sink detracts from the perception of the kitchen. Even if you have a dishwasher, rinse the dishes well before placing them inside of it. You don't want any food smells when someone opens the dishwasher door. Wash your dishes daily in the dishwasher.
• Clean out under the sink. Get rid of cleaners, chemicals and everything else that you store under the sink but don't use regularly. You don't want to remind anyone that your gleaming kitchen takes work to keep it that way. Make sure that you clean under there also.
• Paint your walls. Even if it means removing wallpaper. Wallpaper is an even more personal selection than paint and if a buyer sees that he or she will need to remove wallpaper it may tilt the balance against your kitchen. Use a neutral color.
• Display flowers and fresh fruit, but don't over do it. And the key word is fresh, for both the flowers and the fruit.
• Oh-Oh that smell. Be careful what you cook while your home is for sale. Many foods leave odors, even if you have gotten used to them. If you like bacon, you may be better off getting it somewhere like Denny's. Bacon and other foods can leave lingering aromas that can and do turn some people off.
• You can feed Fido but don't leave any evidence of it. Put away the water and food dishes for your pets. They make both a trip and spill hazard.
  

Sounds like a lot of work, doesn't it? But it really isn't and, you will like like the results when your home sells faster because you have taken care to present the most important (to the buyer) room in house in the best manner possible. Best of luck.

For information on buying or selling your home in Athens GA and the surrounding areas, call me at 706-207-5290 or click here to email me. You can visit my website, The Athens Real Estate Page to search for homes and land in and around Athens.

So You want to Sell Your Home - Part 12 - The Grand Entrance

OK, you have had a garage sale, put excess clothes and furniture into storage and your yard looks like a well manicured golf course. You are now ready to invite buyers into your home. Another chance for a first impression, where those buyers will actually be spending most of their time if they purchase your home.

Whether you are using an agent or selling the home on your own, or using a limited service agent where you are doing all the showings, etc., make sure that buyer are directed to enter the home through the room that will give the most dramatic, the most favorable impression to them. If you are showing your home, that is relatively easy to manage, you direct the prospect to the right door. If you are using an agent, you will usually not be there when the home is shown. Make sure that any lock-box the agent provides is as close to the preferred entrance as possible and that they put specific directions which entrance to use. After all, they might never see how the chandelier looks framed in front of the french doors if they come in the wrong door.

Give a feeling of space. If you have a narrow entrance hallway, makes sure that it is open and cleared of all obstructions. While you might be used to opening the door slowly so that you don't damage that hall tree, anybody looking at your home will not be. Make sure that there are no loose throw rugs or mats that someone may trip over as they enter your home.

Say "Welcome!" with colorful flowers or candles strategically placed to draw the eye but are out of the way. But be careful of anything that might provide an overpowering scent. Remember, those prospective buyers might not have the same discriminatory tastes that you do. Or, they just might not like a home that reminds them of a flower shop.

Make it look like new. Or at least make it look well cared for. A thorough cleaning is always in order. Make sure the carpet is cleaned and just vacuumed, or the tile is swept and the grout cleaned. Eliminate any hand prints or smudge marks from walls, doors, etc. If any minor repairs are needed, such has nail holes patched, warn carpet or damaged tiles replaced, and that any painting is completed.
You can get hints and tips at how to decorate, not just your entrance, but your whole home, by looking at magazines, websites, or even by touring model homes and open houses. Find something that reminds you of your entrance way and do something similar.

Remember, this is the rare opportunity to make another good first impression. Make the best of it! It will help set the tone for how the rest of the home is viewed.

So You want to Sell Your Home - Part 11 - Too Much Stuff

How much stuff do you have? If you have been living in your home for any length of time, the answer is probably "too much stuff".

Stuff, no matter what it is: furniture, pictures, appliances, toys, knick-knacks, clothes, etc., only distracts the potential buyer who is previewing your home. The buyer(s) want to picture the home as theirs, not yours. They are trying to see themselves living there. They are placing their furniture in the rooms, their pictures on the walls, their children in the yard, etc. The more "stuff" you have, the harder it is for them to picture their "stuff".

You need to minimize your stuff, or, declutter! That doesn't mean getting rid of everything and living in a bare house. It does mean getting rid of what you don't need to live there.

Start with the small things. Look in your closets to see what is there. Depending upon where your home is you might have four seasons of clothing in your closet. Pack up those clothes that will not be needed in the next few months. If your closets are still overfull, pick out the shoes, shirts, coats, etc. that you will be using. Try spacing your hanging clothes at least 3 fingers apart. If you have shelves in your closet, make small stacks of clothing, and don't crowd them together. Give the feeling of more space rather than less.

Clear your counter tops. In the kitchen limit your counter top appliances to a coffee pot. Place all your other appliances out of the way. Reduce the amount of dishes, pots, pans, etc. in your cabinets. Make them appear roomy. In the bathroom, do the same thing. Reduce what you keep on the counters and clear out those things from the cabinets that your don't regularly use.

Remove most, if not all, of your collectible items from view. This may include display cabinets and curio shelves that you have put in place just to display what you have collected. It allows the buyers to picture there items.

Get rid of pictures. Free up your walls as much as possible. One or two strategically placed pictures in a room are fine, recommended even. But don't have picture walls, especially those picture walls loaded with your family history. Some even suggest getting rid of all pictures of a personal nature. And, if you have pictures, be careful of the content. Risque, religious, political, and other pictures might distract the buyers, and even cause some to reject the home outright. We have a couple of Louis Icart prints, tasteful, but they might be offensive to some. We took them down when we sold our homes since having them.

Do you have too much furniture? Many of us do, at least for certain rooms. Get rid of excess furniture. And what is excess furniture? Any furniture that makes a room look crowded is too much furniture. It also might be that your furniture is over-sized for a room. You might consider temporarily replacing it.

Garages, basements, storage areas: While you may be able to store some of you stuff in these areas, do not fill them up. Make sure that cars can be parked in the garage. Keep your "stuff" from the middle of any of these locations.

What can I do with that excess stuff? There are many options. You can get a storage unit and store your things there. If you are storing a lot of books, or other delicate items, a climate controlled storage unit might be appropriate. Just remember, though, that for items you might need, such as clothing when a season changes, to place boxes, trunks, etc. so that they are easily accessible.

You can give items away, to friends, family or donate them to charity. You can sell items on Ebay or have a yard/garage sale. There are many ways to get your stuff out of the way.

Remember, you are trying to sell your home, not your stuff. The less stuff buyers see, the more of your home that they see. Whether you are using an agent, or trying to sell your home on your own, when it comes to "stuff", less is more!

For more information on getting your home ready to sell, or for any other real estate concern, call me at 706-207-5290 or you can email me with your information request.

Attention For Sale By Owner - Alert on Possible Scam

Do you have your home up for sale by owner? If so, please read this through.

A seller that I have been talking with, who has since listed their home, was approached by a couple about the home, while still FSBO (For Sale By Owner) last week. The couple was very nice, expressed an interest in the home and eventually made a verbal offer. The sellers countered and they reached an agreement.

The couple then said that they would be using a VA loan and would get a VA appraisal and have a signed contract. Three days later the sellers and the couple talked on the phone. The husband of the couple informed the seller that the VA would only value that house at about $7000 less than the agreed upon figure, and, that they would require the sellers to pay $5500 in closing costs.

When asked how the VA appraised the home without a singed contract, the buyer replied that the VA checked out the value on tax records. The sellers, fortunately, walked away from the deal.

Now, where is the scam? The VA, nor any lender that I know of, in today's market, will do an appraisal without a contract. And, they will certainly not base that appraisal all on tax records. And, while VA will allow seller concessions, up to a maximum, they do not require them.

It is apparent that the "buyers" wanted to get a much lower than market value price for the home as well as having the seller pay most, or all, of their costs to close. To compound that matter, one of the "buyers" represent their self as a real estate agent. If that were true, this practice appears to be a gross violation of Georgia license law.

This is the first instance of this that I have heard of, but it is one too many. I recommended that the seller talked to the broker where the "buyer" indicated she was an agent. If anyone comes to your door proclaiming to be an agent, make sure that you get a card of theirs, and, if they try anything like this, report it to their broker. The "buyer" might not be an agent, or, might be new and not realize that they are breaking license law. They also might be unscrupulous and want to get a quality home for foreclosure prices. Either way, the broker is responsible for the actions of the agents at their firm and, believe me, will nip this in the bud.

So, protect yourself from predatory buyers. Read my blog, I try to be fair. And, to find out about my offer especially for FSBO's, give me a call at 706-207-5290 or click here to email me with your inquiries.

From the VA Home Loan Information Site, see particularly steps 2 & 3,

FIVE EASY STEPS TO A VA LOAN:

1. Apply for a Certificate of Eligibility (COE).
   
   A veteran can obtain a COE by completing VA Form 26-1880, Request for a Certificate of Eligibility, and mailing it, along with proof of military service, to the eligibility center (see office list at back of pamphlet). Also, veterans who have already begun the loan application process with a lender may request the lender obtain a COE through webLGY, which is accessed through the VA portal. More information about this online system can be found at our website which is: www.homeloans.va.gov.
   
2. Decide on a home to buy and sign a purchase agreement.
   
3. Order an appraisal from VA. (Usually this is done by the lender.)
   
   Ordering an appraisal can be done via the Internet using TAS (The Appraisal System). This is a centralized system that allows lenders easy and quick access to order an appraisal.
   
4. Apply to a mortgage lender for the loan.
   
   While the appraisal is being done, the lender can be gathering credit and income information. If the lender is authorized by VA to process loans on the automatic basis (and approx. 99 percent of all VA loans are processed this way), the loan can be approved and closed upon receipt of the appraised value determination without waiting for a VA review of the credit application. VA has also approved the use of several automated underwriting systems for lenders to use in connection with VA loans. The two main systems are Loan Prospector and Desktop Underwriter. For loans that must be approved by VA, lenders send the credit package to VA. VA staff will then review it and notify the lender of the decision.
   
5. Close the loan and move in.

So You Want to Sell Your Home - Part 10 - First Impressions are Everything

What is the first thing people see when they come to look at your home? Your yard and other exterior features, of course. They see you lawn, your mailbox, your driveway, your plants and trees. They see the outside of your house.

The home buyer experience starts when the buyer(s) first see the property. If what they see isn't appealing enough to coax the potential buyer to leave the car, it doesn't matter what the inside of the home is like (unless the buyer's agent really knows the home and is can persuasively present a case for it). And even if the buyer(s) go in to look at the interior, they already have had their expectations set for poor maintenance and possible hidden problems. They will take a closer look at the interior, expecting to find problems, sometimes imagining them, that will discourage an offer.

Start from the street and look back at house. Are they shrubs that need trimming that obscure the view of the home? Does the lawn need mowing and weeding, or even re-seeding? Are there dead trees and shrubs that need to be removed? Are there fallen leaves that need raking.

How does the house look? Does it need painting? Are the gutters or shutters sagging? Is the driveway in good repair? Is pressure washing needed? How does that roof and chimney look? Pay close attention to door and window jams and thresholds. Are they mildewed? If so clean them up. Are there signs of dry rot or water damage? If so, have them repaired. Do they need painting? Go ahead and paint them.

Once everything is in good repair, add some inviting features. Place annuals around the mailbox, plant some shrubs, put annuals along walkways, mulch any flower beds, place flowers around the entrance. Provide some color and a cheery perception. Perception is everything with a buyer when they are looking.

The important thing, set the buyer's expectations. A well presented exterior makes a positive impression. It encourages the buyer to view the interior more positively. And, it increases the potential for both an offer and the amount of the offer.

First impressions, if they are very good, are an important step in getting from For Sale to Sold!

Getting to Yes - Negotiating the Deal

Negotiating, we do it every day, in all parts of our lives. When we discuss what to have for dinner, that is a negotiation. When we decide which station to watch, which movie to see, those are negotiations. We do it all the time, often unconsciously. We do it mostly with the little things, and usually it goes very well. We avoid confrontation, sometimes with agility, sometimes not, but we do it.

Negotiating is often viewed as confrontation, with a clear winner and a clear loser, but, it doesn't have to be that way. The best negotiations result in both sides winning, neither side losing. It is called WIN-WIN. Yes, there might be compromise, but it is mutually agreeable compromise.

Whether buying or selling a home, each person wants to get the very best deal that they can. How do we make both sides winners? The simple answer is by doing whatever it takes to make both the buyer and the seller feel good about the transaction. It's getting there that takes the skill.

Here are a few pointers to aide in easing the home buying and selling negotiating process. They apply equally to buyers and sellers:

1. Don't think of this as a win at all costs situation. This is not a contest.
2. Make your offers and counter offers realistic. You, the buyer, are not going to get that house for 10 cents on the dollar. You, the seller, are not going to get paid more than market value for the home.
3. Do not view offers, or counter-offers, as insults. Negotiating is an iterative process, it may often take multiple counter-offers by each party to reach an agreement.
4. Do not immediately respond to offers or counter offers. Take some time to review them. Determine as seller if you can live with what you will net from the offer. Determine as a buyer if you can afford that additional stipulations.
5. You can substitute items of value for money. What does that mean? As a buyer, you can meet an asking price but ask for the appliances to remain, or for a home warranty. As a seller, you can agree to concessions, such as paying a certain amount of the costs to close, but, you can ask for an earlier closing date, or a higher price to cover some of the closing costs.
6. Refrain for providing personal information that may provide leverage to the other party. For instance, as a seller, don't mention that you are being transferred. As a buyer, don't mention that you absolutely love the home and it is what you have dreamed about all of your life.
7. Set a reasonable deadline for response to offers and counter offers. Provide days rather than hours for a response, especially if it involves providing something that is dependent upon the actions of a third party, i.e. getting a survey done, it may take a couple of days to find a surveyor and get the cost of having the survey completed.
8. Keep quiet. Once your offer or counter has been submitted, wait. Don't contact the other side. It puts you in a position of weakness.
   
9. Keep your emotions out of the negotiating process. This is the hardest part of the process, for many, an impossible part of the process. The buyer does not want to pay for you memories of the property. The seller is not there to enable you to afford a boat with the money you will save.
10. At sometime, BAFO. At some point one or the other side will reach BAFO, or Best And Final Offer. If this is the case, make sure that it is stated in your counter offer. It may be the most the buyer can afford, or is willing to pay for the home. It may be the least the seller will take without any further concessions. Either way, when this point is reached, be prepared to say Yes or No. Don't get angry and don't take it personally.
    

And here is my last tip. Get someone to handle the negotiations for you. This could be your Realtor buyers or sellers agent or it could be an attorney or someone else you hire specifically for the negotiation. Some Realtors will handle just the negotiations, and the paperwork for you. But this person should be totally objective about the transaction and able to remain unemotional. This will assure that personalities do not enter into the process.

As your sellers representative, I will present all offers to you, in a very positive manner, along with an analysis of what this means to your bottom line; your net proceeds, your closing date, etc. I will give you time to review the offer, and then we will discuss it. I will present the pros and cons, let you know whether it is reasonable to market value. We can then work out any counter offer strategies, or even a flat out rejection (not recommended).

As your buyers representative, I will work with you on preparing a reasonable offer, to market value and any concessions that might be reasonable, also. Once a counter is received, I will perform the same steps that I would with a seller.

Either way, I will be working to get this negotiation to the point of Win-Win regardless of how many iterations this may take. Whether you use me, another Realtor, an attorney, or do it yourself, this should be your goal; Getting to Yes, Getting to Win-Win.

For information or assistance in buying or selling your home in Athens and the surrounding counties, please call me at 706-207-5290 or click here to email me with your questions and inquiries.

So You Want to Sell Your Home - Part 9 - Write a Book

Really, writing a book will help you sell your home! It doesn't have to be a long book, or even have much of a plot. You don't even need to write a lot of original content.

When I list a home, I work with the sellers putting together a marketing book. This is a book that is prominently displayed in the home and that buyers and buyers agents have easy access to. They may even carry it with them as a reference as they tour the home and property.

So, what should this book include? Let's start with the cover. The cover should be a nice quality binder with a very appealing picture of your home, at it's best. It should also show the address, to help imprint your home in the potential buyers mind. I use a quality binder because, unlike paper folders, the binder is less likely to "walk off".

So much for the outside, what should you include on the inside:

• A letter from you, the home owner. This should be the very first item in the book, and, one of only pages that will be truly original thought. This should be a short letter, one or two paragraphs, of what you love about your home, perhaps why you bought it, what memories it provides.
• A description of your home clearly pointing out all of the highlights. Describe the granite countertops, the master bath, the hardwood floors, all of the features that you feel are the selling points.
• Pictures of the property - especially the outside, during the different seasons.
• A plat of the property. If you don't have one, you can usually get one at the courthouse.
• A floor plan of the home and any other structures. If you have one available, it is a great tool to help a buyer get a feel for how the home flows.
• Square-footage of key rooms, which include but aren't limited to:

Kitchen
Dining Room
Living Room
Family Room
Master Bedroom
Other Bedrooms
Bonus Room
Basement

• Area information:

dining
hospitals
parks
entertainment
etc

• Commute times to schools, shopping, etc.
• What improvements have you made or had made.
• Copies of your last utility bills, up to 12 months if possible
• A property tax page detailing how much your property taxes are.
• Area schools, just the addresses types. Do no evaluate the schools.

That's it, a simple book but it can make the difference in selling your home or not. So, whether listing with an agent, or selling on your own, write a book.

So You Want to Sell Your Home - Part 8 - Standing Out From the Competition!

In previous posts I have emphasized that price is the number one issue in getting a home sold. However, what that really means is that the price must reflect the condition of the home being sold.

Real estate buyers, especially in today's market, look very closely at price and condition. Buyers believe that what they see is what they get and what they see determines what they are willing to pay for the home.

Buyers typically prioritize, whether consciously or not, a home in this order:

1. Curb appeal
2. Entryway
3. Kitchen
4. Master Bedroom & Bath
5. Living Areas
6. Other Bedrooms
7. Backyard

Curb appeal, believe it or not, has a major impact on how the buyer(s) view the rest of the house. It is the first thing they see when they approach your property. It sets not only expectation, but also the perception of how they view the remainder of the home.

In future posts, we will discuss how we can address curb appeal, as well as the remaining six priorities of the buyer, following the staging formula of 3P - 2F:

• plantings
• paint
• pictures
• fixtures
• furnishings

For information on getting your home ready to sell or for a copy of my 99 Tips for Getting Your Home Ready to Sell, call me at 706-207-5290 or click here to send me an email request.

So You Want to Sell Your Home: Part 7 – What stays, what goes. Real vs. Personal Property

So You Want to Sell Your Home

Part 7 –

What stays, what goes. Real vs. Personal Property

Your home is for sale, buyers flock to your door, offers are arriving one after another, almost too fast for you to respond to them. Well, maybe not. However, you do finally get an offer on your home, you negotiate, and a sales contract is signed. The buyer does all the due diligence, having inspections, getting financing, etc. You have corrected any problems found during the inspection and you have moved all of your personal property out of the house. Your furniture is on the moving van and you are now waiting for the buyer at the office of the closing attorney or a title company.

The buyer has made the final walk-through of the vacated property and comes to the closing ready to walk away from the purchase. Why, because you removed a Waterford Crystal chandelier that was hanging in the dining room. Sure, it was a family heirloom and you never intended it to stay. And yes, you replaced it with another chandelier from Home Depot. But the buyer really envisioned that Waterford chandelier hanging above their formal dining set. Or, it might have been a built-in microwave, or a couple of small trees or shrubs that you planted in honor of your children. It could have been any number of things that you removed but the buyer expected to remain.

This happens more often than you might think, especially when one or both of the sides (buyer & seller) are inexperienced or don’t have knowledgeable representation. Sometimes the closing can be rescued with additional negotiation and concessions. Sometimes it can’t.

But how can this be prevented? First, both buyer and seller need to understand the difference between real and personal property. Real property is basically defined as the land and its appurtenances. Everything else is personal property. The confusion is over what is included in the appurtenances.

Well, the obvious would be the house and garage or carport (if there is a garage or carport). Fences, barns, outbuildings that are fixed to the ground, sidewalks, driveways, and in-ground pools or spas are also included. So are trees, bushes, annuals, perennials and other in-ground plants. Inside appurtenances would include built-in cabinets, existing light fixtures (including grandma’s Waterford Crystal chandelier), ceiling fans, plumbing fixtures, switch plates and outlet plates, built-in appliances, blinds, shades, window covering hardware. Basically, anything that is screwed or nailed or otherwise “permanently” affixed to the home is considered real property.

Furniture, free-standing appliances, free-standing (or hanging) art work and mirrors, and indoor plants are considered personal property. Basically, anything that can be removed without damage to the property is considered personal property, except of course things like light fixtures, switch plates. Also, surprisingly, any blooming flowers, ripened fruit or vegetables are also considered personal property. While the plants must remain in the ground, you can pick the flowers or fruit and take them with you.

There are some things, though, that are in a bit of a gray area. Are curtains and curtain rods real or personal property? Is patio furniture real or personal property? How about the portable storage building that the garden tools and lawnmower are kept in? What about the large potted trees that line the patio or entrance? The best answer to this is “maybe.” Sometimes it may be obvious: if the curtains are custom made to match the pattern of the wallpaper, they are probably real property. If you have made a path leading to the storage shed, the shed is probably real property. Likewise, if there is custom built-in cabinetry to house a specific television or entertainment system, those electronic items could be real property.

But the best way to avoid any confusion is to remove any items that are not included in the sale from view before showing the property. That might mean replacing that chandelier with another, removing and replacing the switch covers, etc. Also, clearly state in both the disclosure and the contract what items are included in or excluded from the sale. If there are items of personal property that are agreed to be included as part of the transaction, such as free-standing appliances, mirrors, patio furniture, etc., they should be clearly indicated, by brand and serial number if possible, in a separate personal property addendum that is an attachment to the contract.

Get everything down in writing. It may seem redundant, it may seem trivial; however, it will make the closing of the property smoother and leave both parties with positive feelings.

And don’t forget to leave all the keys and any remote controls (garage door, lighting, etc). They, too, are part of the real property.

Best of luck on the sale of your home. Please feel free to contact me by phone or email if you have any questions regarding the sale or purchase of a home or property.

This is not to be construed as legal advice. For any legal questions, please consult an attorney that specializes in real estate law.

It Didn't Sell With An Agent - Let Me Raise the Price and Sell It Myself

It Didn't Sell With An Agent - Let Me Raise the Price and Sell It Myself

Part of my lead generation is talking with FSBO's (For Sale By Owners). I call them, talk to them, visit them and offer them tips. I wish them luck, sincerely. However, 85% of all FSBO listings eventually end up getting listed and sold by a Realtor. I just want them to remember me if and when they do list.

I have been doing this regularly for sometime but I still get responses that amaze me, regardless how many times I have heard them before.

I just got off the phone with a woman who is selling her own house. She does not want to deal with an agent, does not want to offer a co-op. She doesn't want to pay someone else for something she believes she can do herself.

That's fine. I do a lot of things myself, also. But I know what I am doing (ok, my wife might sometimes have a different opinion). Well, I usually know what I am doing.

But this woman does not really understand. Her house (vacant, not where she lives) is an expired listing. It did not sell in 6 months on the market. It was overpriced. Based on comparables, overpriced by about 10% - 15%. I don't know what steps, other than MLS, the agent might or might not have taken to market the place. I don't know if the listing agent set the price of let the seller dictate it.

But what do I know? I know that if it didn't sell the first time, it was priced too high.

So, what is this woman doing? She is selling it herself to save the realtor commission. On top of that, she has raised the asking price by over $5000. Her only marketing avenues (that she is currently using) are:

• a sign in front of the house
• 2 for sale by owner arrows pointing towards the property
• a weekly ad in the newspaper

I would like to have told her she more than likely won't sell this home with her tactics. I would like to have told her that her best chance is to trust and use the services of a knowledgeable Realtor. I would like to have told her that she is doing a good job of selling her competition's home. But, at least at this time, she would not have heard me.

I wished her best of luck.

I will send her some tips in the mail. I hope she reads them.

For a copy of my For Sale By Owner handbook, just call me at 706-207-5290 or click on my email link.

So You Want to Sell Your Home – Part 6: Pre-Approved Buyers

So You Want to Sell Your Home

Part 6 – Pre-Approved Buyers

Your sign is up, your ads are placed, flyers are printed up and posted on bulletin boards and in your info box. You are just sitting back waiting for that call, for that buyer to ring your number. But guess what, you aren’t going to be called by a buyer. You may get called by someone who wants to view your home, but that is not a buyer. You may get called by a Realtor® or agent who wants to show the home but even she/he does not have a buyer on the first call.

At best, anyone calling you for the first time is a shopper, not a buyer. If they call you a second time, they are a potential buyer. You may think this is semantics, but there are some important differences to consider that may help you in the long run.

There are four types of people who may be visiting your home once you have placed your For Sale By Owner sign in your yard. They are:

• Shoppers – those who are actively looking for a home they can buy
• Lookers – those who just like to look at homes for sale (yes, there are plenty of them out there)
• Casers – those who you are protecting yourself from using the techniques in Part 5.
• Realtors® or agents – some to preview your home, some to get you to list your home with them

You want to try to get as many of the first, the shoppers, into your home as possible and a minimum of lookers. Why? Shoppers are ready to buy, they want to buy, they are motivated to buy. Lookers are very often not ready to buy, they just want to look.

How do you tell if someone is a shopper? When a person calls you about your home and asks to see it, find out if they are already pre-approved for financing. Note, I am going to emphasize pre-approved, not pre-qualified. They are terms that may sound the same but have very different meanings. Verify that they have been pre-approved and not just pre-qualified.

Pre-qualified simply means that they have spoken with a financing source and have given verbal information to the financer. The financer has done a preliminary check and things look okay on the surface. It is not much different than the pre-approved credit card offerings you may receive in the mail, subject to a thorough credit check. They may be pre-qualified for one amount but the actual amount of loan that they qualify for might be significantly different.

Pre-approved means that the shopper has had that thorough credit check and has a signed document, from the financing company, to that effect. It will also include the amount of financing that the lender will approve. A serious shopper can become pre-approved very quickly, often in less than one day.

Lookers have done neither of these things. If you get a call and they are neither pre-qualified nor pre-approved let them know that you would really like only pre-approved people. If they are really shoppers and motivated to buy, they will gladly get that pre-approval. If Realtors® or agents call, ask them to make sure their shoppers are pre-approved. They should be performing this screening before contacting you.

If the shopper(s) has been pre-approved, ask them to bring the pre-approval letter with them when they come to view your home. If they agree, this is just further evidence that they are a motivated shopper. And what you really want viewing your home are motivated shoppers.

It is up to you how much screening you want to perform before walking people through your home. Limiting access to only those shoppers that are pre-approved might reduce the number of viewings, but it will provide more assurance that those who are viewing are really shoppers and not lookers.

Oh, I almost forgot! When do you get a buyer? When a shopper makes an offer and, possibly after a series of counter offers, terms are agreed to and a sales contract is signed. That is when you have buyer.

Best of luck on the sale of your home. If you have any questions regarding this topic, or any other related to selling your home, please feel free to call me at 706-207-5290. Or email me at athensrealestate@hotmail.com with those questions. I will give you my best answer with no obligation. Although I would love to sell your home, I will not give you a listing presentation unless you ask me to.

So You Want to Sell Your Home – Part 5: Security

So You Want to Sell Your Home

Part 5 – Security Tips: Forewarned is Fore-armed!

You are setting off on an adventure. You are going to sell your home, and you want to do it yourself, or with the help of a limited-service agency. You have just studied up on all the wonderful information I provided on pricing and marketing. Now you are ready to stick out that sign, put ads in the paper and sit back and wait for the calls.

But what do you do when you receive that call? How do you make sure that the person calling really wants to look at your home as a prospective buyer and not for something a little less benign? You don’t, but you can take some steps to increase your safety and security and that of your family and your possessions.

The following is a list of precautions to take before allowing strangers into your home:

• For your own safety, never set an appointment with anyone to see your home unless they have given you their name and number and you have called back to verify that number. An easy way to do this is to say. “Let me check with my husband/wife for the best time and I will call you back.” Use this method even if you are not married.
• If the caller says he/she is a real estate agent, call his/her office to verify the information. You can also often check out a Real Estate Company website and find a picture of the agent. When he or she comes to the house, get a card. For instance:
• I may call you asking to preview your home. I will give you
• my name
• my company name
• my cell number
• You should ask for my office number; I will give it to you. (You could verify it by looking it up in the yellow pages, assuming you have the same yellow pages we are listed in).
• You should ask if I/we have a website. I would give you:
• My website address www.theathensrealestatepage.com
• My office website address: greaterathens.yourkwoffice.com where you could then click on “Associates” and find my picture and a link to my website.
• The corporate link, if you want it, www.kw.com where you can click on the agent or office search to find both me and my office. (If you search for me you would need to search for Michael Saunders).
• Leave the name and phone number of the person requesting to view your home either with someone, such as a neighbor, or in a location that is out of sight but known by someone else.
• Never let a caller or looker know your schedule. Don’t ever tell them when you won’t be at home, when your spouse won’t be home, when you pick up the kids, when you work, when you will be on vacation, etc.
• Never provide a caller with information about your home’s security such as deadlock bolts, security systems, and so forth.
• Always have a back-up plan when you allow strangers into your home, especially if you have children. Have a neighbor look out for you until the lookers have gone.
• Never let a stranger into your home without seeing some identification. Keep a log of everyone who has looked at your house. Get their name, telephone number, address, car description, tag number, and any additional information that could be helpful in the event of a future burglary. All of these people would be suspects.
• If you make a flyer to advertise your home, don’t include any information that might breech security.
• Remove from sight all valuables, including guns, jewelry, silverware, and collections.
• Remove any prescription drugs from your bathroom and put them somewhere else.
• Never leave strangers alone, and watch their every move while they’re in your home.
• Never allow yourself to get cornered. Always have an opening to an exit. Do not turn your back on people you let into your house. Let the lookers enter rooms first. Maintain a distance between yourself and the lookers.
• Try to always have someone else with you when you show your home. There is strength in numbers.
• Instruct children not to give out information over the phone. Just have them ask for a name and call back number.
• If you are using a push button or dial lock box, only give out the code to a Realtor® or real estate agent that you have verified the identity of.

Every one showing a home, man or woman, young or older, should take care and remember these security tips. While not epidemic, there are enough cases of fraudulent buyers that are really only cases of con artists looking to find some valuables they might steal, or worse.

Using a Realtor® should eliminate many of these security and safety concerns. I will pre-screen all persons wanting to view any home, doing everything in my power to make sure that they are potential buyers, not lookers. I will verify that they are both sincere in their search and financially qualified to purchase your (or anyone else’s) home before even showing it.

Best of luck on the sale of your home. Please feel free to call me at 706-207-5290 if you have any questions that I might be able to answer or email me at athensrealestate@hotmail.com with those questions. I will give you my best answer with no obligation. Although I would love to sell your home, I will not give you a listing presentation unless you ask me to.

What’s in a Word?

Be Careful What You Write in Your Real Estate Ad

The comedian George Carlin had a routine about The Seven Words You Can Never Say On TV. It is somewhat dated. There are at least 2 that are now heard regularly on broadcast channels. You can hear all seven of them on some cable channels. If you really want to know what those words are/were, you can go here.

When you, or your Realtor®/agent, place any advertising for your home there are many more than seven words that can get you in trouble. Federal and state Fair Housing laws regulate against and define any practices that might be considered discriminatory in the sale and purchase of real estate, regardless of intent. These regulations do not normally apply to the sale of your own home unless you advertise. It doesn’t matter the type of advertising, whether newspaper, Craigslist, flyers on a community cork board or any other form of advertising.

What are some of these words? Seemingly benign words can be found to be discriminatory. The word adult, unless it is used to describe a certified adult community, is determined to be discriminatory. So are bachelor, Christian, unemployed, and singles, as well as dozens of other words. Phrases and groups of words such as no children, single person, mature couple, mature individual, and not for disabled can all be considered discriminatory.

There are many words and phrases that are iffy, that depend upon the context in which they are used. They could include executive, handyman’s dream, close to synagogue, and membership approval required.

When you submit an ad to a newspaper, the person reviewing the ad might counsel you on the use of words and suggest alternatives. However, when using internet marketing you are usually on your own. Online service providers are generally considered not responsible for the user-submitted content.

Now, is somebody going to review all advertising and come and fine you or take you to jail? More than likely that will not happen unless there is a complaint filed. Even then it will more than likely be a warning to change your wording.

For a list of words and phrases that may or may not be considered discriminatory go to the Georgia Commission on Equal Opportunity Fair Housing Advertising Word and Phrase Usage List. Just be careful what you say.

If you would like to find out what I can do for you, or, if you just have a question I might be able to help you with, email me or call me at 706-207-5290.

NOTE: The above is not to be construed as legal advice. For legal advice please consult with a lawyer or contact the Georgia Commission on Equal Opportunity.

So You Want to Sell Your Home – Part 4: Marketing Your Home

So You Want to Sell Your Home – Part 4.

Marketing Your Home

In Part 3 I talked about how you get the most exposure on your home for sale, entice agents, get it listed in the MLS. But how do you attract buyers? The simple answer is the same way a Realtor® or real estate agent does: you market, using one or more venues.

Signs – of course. You want people to see a sign in your yard--it lets all the passersby know your home is for sale. But, if you live at the end of a cul-de-sac, there are not a lot of passersby. But the sign is still a good thing. It lets your neighbors know, and they might tell someone who wants to buy a home. Believe it or not, there are some people who don’t want a sign, who don’t want the neighbors to know. Your for sale sign should show clearly how to contact you, or your Realtor®. Your (or your Realtor’s®) phone number should be large, prominently positioned and readable by people driving by. The sign should be about 24” wide and 30” tall, with colors to attract attention.

Information tubes or boxes. Yes to them, also. Make sure your Realtor®, or you if selling yourself, places a weather-tight information box or tube on or adjacent to the sign. It should be positioned so that someone passing by will see it and hopefully stop and pick up a flyer. Speaking of flyers, keep the box stocked, but not too full to get a single flyer out. Make sure your Realtor® supplies you with extras in case the box runs out before she (or he) can get back to refill it.

Newspaper ads – if you are having an open house, definitely. For any other occasion, if you want to spend the money, go ahead. You pay for the ad each week based upon the number of lines and column inches. A picture will also be extra and is usually in black and white. The ad may also be found on the newspapers web site. These ads sometimes attract buyers, but, the first place most buyers look today for information on homes is….

The Internet – absolutely a yes. Recent studies have indicated that over 90% of buyers first use the internet to search for a home. And what is the most effective internet tool? At the risk of sounding like a broken record, it is the MLS. Not just for Realtors® or agents but also for buyers. Many MLS systems today now have public search capability where all the real estate “civilians” can search by state, county, city, neighborhood, street, etc.

However, the bonus to this is that many Realtor® MLS listings are also fed to other internet sites, including the Realtor’s® own web site. You can search the local MLS at my site, as well as review my featured listings if you want. But, people can search and find your home on almost every local Realtor’s® web site.

There is another bonus. Many Realtor’s® MLS listings are also fed to large national real estate and home search sites, such as Realtor.com and Trulia.com. I, and many other Realtors®, also forward these listing to many other real estate home search sites with both local and national (even international) exposure.

Some of the help-to-sell-your-own-home companies will also include your home on their own web site listings. Before selecting any company, whether a full service realtor or a help to sell agency, ask how big of an exposure on the web they provide, whether just on MLS, on their specific site listings or to the major real estate search sites (ask which ones specifically) across the country.

You can also upload your homes information to many of the major national real estate sites. This will be on a one site by one site basis, contacting each site separately and uploading or entering data. Many are at no cost for a basic listing with fees for certain features like additional pictures, featuring (prominently positioning your home), etc.

There are many other alternate internet marketing practices you can take advantage of. Sites like Craigslist that offer free ads. On Craigslist you can list your home with up to 4 pictures at no charge. You need to refresh or even replace your ad at least weekly to keep it near the top of the list. Many people will only look at the most recent ads. You also need to be ready to get calls from people who might be interested in more than your home. Many may be trying to sell you something. Others might have different motives. Craigslist does have a comprehensive page of scams and warnings to look out for.

One final option I will mention is a “Single Address Web Site”. This is nothing more than a website you, or your Realtor®, or someone else you hire, can build that exclusively displays your home. All the information and pictures you want to include, all there at one site on the web with a URL in the form of www.yourhomeaddress.com. This is a relatively new service but does look very interesting.

So, there we have it, a myriad of ways to market your home. Each of these marketing tools requires work to initiate as well as constant tweaking and upkeep to keep fresh. You can do it your self, or you can use a full service Realtor®. Or, you can hire someone else to do all of the marketing work for you. The main thing to remember is to do what you can in order to get your information out in front of the broadest audience possible. Remember, the biggest audience is the population of local Realtors®, and, to some extent, every Realtor® in the country. Those Realtors® often know someone moving to your town or county and will help them become familiar with the properties available. Then there are the buyers. To be successful you need to reach both groups.

If you would like to find out what I can do for you, or, if you just have a question I might be able to help you with, email me or call me at 706-207-5290.

So You Want to Sell You Home - Part 3 - Getting the News Out There

You, on your own or with your REALTOR®, have decided what price to ask for your home. Now what? How do you get the word out? How do you reach people? How do your neighbors, the people around the corner, those who live across town, people in Timbuktu find out about your home. How do you get the greatest audience to know that your wonderful home, the place you raised your kids, remodeled with your own hands, landscaped, painted and kept immaculate is on the market? In other words, how do you get buyers to the door?

OK, I am going to skip listing all of the things you could do, which sometimes work and sometimes don't work. I am going to cut right to the chase and give you another question. Who should you be targeting in order to get that parade of buyers started? The answer is simple, REALTOR's® and real estate agents (yes, there is a difference) representing buyers. Well over 90% of all home purchases are by buyers using REALTOR's® and real estate agents. Whether you are selling on your own, using some sales assistance service or using a full service REALTOR®, the main target of your marketing should be those people who are representing the majority of buyers.

That's the secret, like I said, it's simple. To get the most buyers, get the attention of the professionals representing those buyers. But how do you get their attention. That is also simple, use the local Multiple Listing Service, or, MLS. The MLS is major tool of real estate professionals trying to match-up buyers with the homes of their dreams, and that could be your home. Yes, it is true, you cannot place a listing in an MLS on your own. You do need to use either a full service REALTOR® or a limited service help to sell company to get your home into the listing service.

In this area there are two primary MLS services. If you elect to use full service representation your REALTOR® should be placing your listing into both services. This assures the broadest audience of agents for your home. This will usually be at no cost to you the seller until when (and sometimes if) your homes sells. If you use a limited or partial service firm, you will usually pay up front for the listing. This usually averages around from $400 to $500, per MLS. Find out upfront which MLS the limited service firm will be using and for how long the listing will be valid.

But there is still one more thing you need to do to attract those agents. Again, it is no big secret, to attract agents you need to offer co-operation or protection. This can be a percentage of selling price or it could be a flat fee, but, it needs to be clearly stated. If you are using a full service REALTOR®, like me, for instance, this co-operation will be included in my fee for selling your home. I will fully disclose what that co-operation figure is before you sign any papers. Whether you use full or limited service representation to get your house on the MLS, that amount of co-operation will be listed (you will have to inform your limited service listing provider what figure to put into the agents co-operation). Either way, it is a contracted dollar amount or percentage and cannot be renegotiated after a sales contract is in place.

No, I am not trying to direct you into using a full service REALTOR® or even to use a limited service to assist your sale. However, studies continually show that homes sold through a full service REALTOR® sell for more and faster than purely FSBO. And, whether you use full service or limited service, homes sell faster when listed on local MLS.

To sell your home, you best bet is to attract a REALTOR® or agent representing a buyer. To attract that agent, you need to offer an enticement, the co-operation.

Next time I will address marketing your home, whether on your own or with a full or limited service REALTOR®. Now that agents have been attracted, how do buyers get attracted?

So You Want to Sell Your Home - 2nd in a Series - Getting the Price Right

So You Want to Sell Your Home

Part 2 Getting the Price Right

In part one I finally got around to talking about what factors influence the price, or market value, of your home: location, condition, market. In this installment, I will demonstrate how to use those factors to arrive at an asking price for your home.

The best known method (bkm) for determining what your asking price should be is a CMA, Comparative Market Analysis, sometimes shortened to “COMPS” (comparisons). This is nothing more than establishing the current market value of your house by comparing it with the selling price (less concessions) of similar homes, in your neighborhood. To best reflect the current market, those comparisons should be from within the last 3–6 months and include current listings, listings that did not sell, as well foreclosure and short sales (homes that are in pre-foreclosure that require bank approval to sell for less than what is owed).

For the person doing it on their own, this could be a somewhat long and tedious process. You need to do the research on your own. Unless you have access to MLS data (Multiple Listing Service - you need to usually be a member of the MLS to directly access this information) you will need to access public records. In the Athens-Clarke County area, as well as each surrounding county these records can be found online. You will have to look up each property individually and determine whether they are valid comparisons. Tax information will not provide any concession information. (Concessions are items the seller agrees to provide for the buyer at closing; they could include paying all or some of buyer’s closing, allowances, etc.)

If there are not enough comparable properties in your neighborhood, you will need to expand your search to similar neighborhoods and search their recent sales and current listings for comparisons.

Once you have that information, adjustments will have to be made, up or down, to the selling price of the comparable homes. Do they have more or fewer bedrooms, more or fewer baths? What’s the difference in square feet? Do they have basements, what are their lot sizes, how’s the landscaping, what are their conditions? These are just some of the considerations we use when developing the comparisons.

After making all adjustments to the comparable properties, a weighted average will be made to determine the asking price of your home. By weighted average, I mean that the home that is most similar to yours will count most in the averaging process. The home that is least similar will count the least in the averaging process.

An alternate way to determine selling price is the square foot method. It is a quick way of arriving at a price. Basically, it entails dividing the selling price by the square footage of the homes being used for comparison. While it is quick, it is much less accurate (unless you are comparing condos, or other identical homes with external variables). However, it is a great tool for establishing replacement cost in the event of a fire or some other unfortunate event.

There are 4 ways to get this CMA performed:

1. Do it yourself.
2. Get a “Market Report” from some realtor site or a company that will help you, as an owner, sell it yourself.
3. Hire an appraiser.
4. Have your real estate, or listing agent, provide that as part of his/her service.

.

Do it yourself: You can do it yourself, but, again, unless you have access to an MLS system where you can get sales histories and all the data regarding concessions. This could be a time – consuming process. Tax records will provide sale price, but they will not provide concession information. Neither will they provide details on condition, amenities, etc.

Request a Market Report: Many realtor websites, as well as those sites that help you to sell, often have a link where you can click to get a market report. Find out what method is being used to generate these market reports. Some may just use the square foot method. Whichever process they use, it is almost always done remotely from searching MLS records. There is no first-hand knowledge of the condition of your home or the comparable homes. They don’t know the condition, they haven’t seen the yard, they don’t know the amenities. They are using only the numbers available to them. While this might get the pricing into the ball park, sometimes that park can be pretty big (remember the line from Major League – “There are some parks that wouldn’t have been a home run in.” “Yeah, name one.” “Yellowstone.”)

Hire an appraiser: You can pay an appraiser to do a market price evaluation for you. This will be for a fee which will vary depending upon where your home is located, the size, etc. The appraiser will use the CMA method described above (or something very similar) including capturing concessions, etc. He/she will tour the property and be very familiar with it, able to accurately include condition, amenities, landscaping, etc. in determining market value.

List your home with an agent: The listing agent (LA) will perform the same tasks as the appraiser. The agent will probably also have the advantage of personal knowledge of the comparative listings. Conscientious agents will have previewed many, if not all, of the homes that have sold, or are for sale, in the neighborhood that are being used for comps. This allows the agent to account for condition, landscaping, amenities, etc. in the comparable properties. This service is included in the commission the agent gets when, and if, the property sells.

Conclusion: In today’s market, price is extremely important. If your home is priced too high, you will have few, if any, lookers. If it is priced close, but still high, you will have lookers, but you will probably not get offers, or it may stay on the market for longer than a home priced correctly (or both). If it is priced correctly, it should sell. And, it should sell within the average days on market for homes in your area.

Whether you sell it yourself or with an agent, make sure the asking price is right. Asking price is the invitation that brings potential buyers to your home. The right price is what turns that potential buyer into an actual buyer.

So You Want to Sell Your Home! First in a Series

So You Want to Sell Your Home -

You wake up today and decide it’s time. You need to downsize. You need to upsize. Whatever the reason, it’s time to sell your home, one you may have lived in for 30 years or one you may have just bought last year. So now you find yourself with the questions:

• Should I do it myself?
• Should I use an agent?
• Should I do something in between?

This is the first in a series of blog articles I will be writing that I hope will help you answer that question. And help you to get from “for sale” to “sold”!

Disclaimer: I confess, I am a Realtor®, but, I am going to try to be objective and open, providing pros and cons of all three options. If you feel that I am skewing one way or the other, the comments section is open. The opinions I express are my own and not necessarily those of the brokerage that I work with, nor of other Realtors®.

Getting back to the original list of questions, the answer to each is yes! But then again the answer is no! No. I am not being wishy-washy. There is no one size fits all answer to those questions.

I like doing things myself. I like to make things out of wood. I like to grow my own tomatoes. I like to cook (but I hate cleaning up). I won’t do plumbing. I won’t do electrical work. I used to like working on my own cars, but, today’s automobiles are so much more complex, I have a mechanic who has the latest tools, who has kept up with the latest technologies do that. Selling a home has gotten a little more complex, also.

Now that I have your attention (or have driven you away), let’s get the first, of many, concerns out of the way, or, at least discussed. In today’s market, the major selling point is Price! It’s not just location anymore. I will try to address price in two installments. The first, today’s installment, will cover what three things determine price. In the next installment, I will cover how we use those factors to get to price, or market value, of your home.

How much should I sell my house for? How do you go about establishing a price for your home? Before I answer that question, let me point out some of reasons that shouldn’t be used to price your home.

• I still owe $XXX,XXX on my mortgage. The market value of your home, the price people will pay, has absolutely nothing to do with what you owe on the home.
• I spent $50,000 on improvements. Many improvements, or upgrades, will not pay for themselves in the sale of a house.
• I need to net $XXX,XXX on the sale. The market value of your home, the price people will pay, has absolutely nothing to do with home much you want to make on the sale of it.
• My brother in law says it’s worth $XXX,XXX. Unless your brother in law knows how to appraise property, he is most likely wrong.

But how do I price the house: There are 3 factors that determine what the market value of your home is. They are, in no particular order:

1. location
2. condition
3. & the market itself.

Location, location, location: Most of us have heard that phrase. It was meant to say that location is the major determination of price and desirability of a home. Yes, location is important, and too some, for the right location, price is no object. However, for most of us, price is determined by our budget, so, maybe we place a little less emphasis on location.

Condition: The condition of a home, and its’ surrounding yard or amenities, are almost equally important. Most buyers want move-in condition. They want the moving van to pull to the door, their furniture to be unloaded and arranged, their boxes unpacked. They don’t want to paint, re-carpet, re-landscape, etc. If your home isn’t in move-in condition, the market value is reduced.

The market itself: The market value of a home changes all the time. It is determined by the market. In a sellers market, prices tend to go up quickly, homes sell quickly. In a buyers market, prices don’t go up much at all (and, like today, in many areas, they go down).

Here, in the Athens area, we have been fortunate enough to have a somewhat neutral market. Sales have slowed, but prices have remained somewhat stable. While values have not significantly risen, in the last year or so, they have not significantly dropped. This could change if more foreclosures come on the market, or more buyers enter the market, or, fewer homes are up for sale.

Well, there you have it, all you need to know about pricing a house. Ok, maybe not. In the next installment, I will try to make sense out of how to use these 3 factors to get to an asking, or listing, price for your home.