Winter in Florida and summer at Lake Tahoe are the peak seasons for real estate sales in these opposite parts of the country. With more properties coming on the market during these short peak periods than any other time of year, how do you generate interest and excitement when there is intense competition at every price point under $2 million?

I think it is important to take a multi-faceted approach to marketing new listings. Just putting a new listing on the MLS and having an open house on the weekly MLS tour is not enough to get the other agents excited about bringing buyers to your property. Using creativity, some planning and building a comprehensive marketing program showcasing your property will help to sell it faster and at a higher percentage of the asking price.

Pricing your property in line with current market conditions is only part of the equation. Taking a multi-faceted approach to promoting a new listing is the key to generating the most interest from buyers and agents.

When a new listing is put on the MLS, I like to send e-mails and faxes to every agent and office in the community as an extra level of marketing support. Print advertising, a virtual tour, exposure on my broker’s web site and my personal real estate web site (http://www.InsideIncline.com) can all be used to show off the interior and exterior features of a property.

Open houses are an important tool for selling properties in resort markets, especially on weekends in the off season and everyday during the busy peak season. When there are a lot of prospects walking through a particular property at the same time, it creates a level of excitement that can spur potential buyers into action. Promoting the open house through print ads, signs, direct mail and on your web site are critical to driving traffic to the property.

But the most important factors in creating high demand for your property are to price it right and roll out the marketing campaign in a well-planned manner. I recommend that you have the property on the MLS tour followed by a weekend of open houses in order to make sure that every agent in your community has a chance to contact their buyers and get them to see your property. This helps to create a stronger demand for your property by making a larger number of agents and buyers aware of it in a short amount of time.

The vast majority of buyers in most resort markets do not live there full time, so they need some advance notice in order to make a trip up to see the property. Trying to sell a property in a few days is a nice goal, but it usually precludes having the greatest number of prospects view your property. By working together on showcasing your property and the timing of the listing, you can create more demand for your property by implementing a marketing plan that brings in the greatest numbers of buyers to see your property the first several days after it is listed.

Copyright - Don Kanare 2006 - All Rights Reserved

About the Author

Don Kanare is a real estate agent with Lakeshore Realty located in Incline Village, NV at the northeast corner of Lake Tahoe. Don writes a daily column about the new listings, price changes and general market commentary on Incline Village Real Estate. You can find Don’s column on his web site at: http://www.InsideIncline.com

Tags: selling your house, home selling, house selling, selling a home

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Realtors generally average about six percent of the sale price of the home. Therefore, by successfully listing and selling your home FSBO, that is money that you can keep in your own pocket and not have to fork out to a realtor. By selling your own home and saving the realtor fees, you can also pass that savings onto your potential buyer. Whether you throw some of that money into the asking price, or you use it to make some needed repairs, by selling the home For Sale by Owner, you have some extra cash to work with.

It is important that homeowners realize the amount of work involved in selling their home For Sale by Owner. Although you will need to do the work by yourself, there is no need to despair. Many people believe that when it comes to the paperwork aspect of selling a home, they need a realtor to help them out. However, this is simply not true. Instead, when selling your home on your own, you will need a good lawyer that has experience with real estate.

A lawyer will be able to assist you and help fill out all necessary paperwork needed to sell the home. The lawyer is there to make sure that everything is properly and legally taken care of. When looking for a qualified lawyer, be sure to ask for referrals you?re your family and friends who can give you a name of a good lawyer. You can also check with the Better Business Bureau to make sure the lawyer you choose does not have any complaints against them.

Research is a key element to listing your home For Sale by Owner. The Internet is an excellent place to begin your research. The Internet is loaded with just about any topic you can think of about selling your home. So be sure to take the time and do some reading for attempting to sell your own home. There are a lot of websites that can offer assistance when trying to sell your house FSBO. You can easily list your home for sale on the Internet. And although this may cost you an additional fee, think of it as a great way to advertise your home to potential home buyers. If you can market your home on the Internet for a small fee and it sells, it will be well worth the small amount of money you spent. The more exposure your home gets the more potential it will have for selling.

Many people will try and discourage you from selling your home on your own. Many believe that your will not be able to successfully sell your home. Why? Because many people do not make the effort needed to sell the home. Yes, it may be a lot easier to sell your home with a realtor, but it will also cost you a lot more money.

Now that you have done the research and made the decision to sell your home FSBO, you are probably wondering where you should go now. Begin by making sure the home is up to par before listing it. Make any necessary repairs to the home before placing the house on the market. You want buyers to see the full potential of the home.

Be sure that you are listing your home for a fair market price. If you list your home too high, it will sit on the market for a long time. However, if you list your home for too little, you will end up losing a lot of money. Research other homes in your area to see what they have recently sold for or are currently listed for.

A great way to get interested buyers is through an open house. It is important that the first couple of open houses may only draw people who are inquisitive about the home. Neighbors and friends way want to come through the home to see what it looks like. Therefore, it is important to understand that you may need to host several open houses before getting a potential buyer. Most serious home buyers will be pre-approved before they begin their home search. However, there are some prospective buyers that are truly interested in purchases your home, but are not pre-approved. Therefore, when hosting an open house, it might be wise to have a lender on hand who can help with getting a serious buyer approved for a loan. This will help to speed up the process of selling your home FSBO.

Being prepared for anything that comes your way will help you in quickly selling your home. Have everything you need in place before listing your home and having an open house. This will help to eliminate any delays that could possibly occur. Be sure that you have a price in mind that you are willing to settle on. Therefore, once an offer comes in, you will know what step you need to take next.

Selling your home For Sale by Owner can often times be a challenge. But it can also be a rewarding experience both emotionally and financially. Knowing that you have taken all of the proper steps and successfully selling your home will be the desired end result. So do not let anything stop you from listing your home as a For Sale by Owner home. With some hard work and patience you can sell your home.

Tags: for sale by owner, sell home, selling a house, selling your own home

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Selling a millionaire home is hugely different than selling any other type of real estate. Many owners quite rightly do not want luxury home window shoppers trampling over their marble floors. Millionaire home owners by their very nature can be newsworthy individuals. So opening your doors to just anybody is simply not on.

Proud of what they have achieved

Owning a home that makes us mere mortals slip off into a dream-like state is a huge achievement. So the first question a buyer wants to ask is why you are selling. Have you hit hard times? Is your business about to collapse? Are you going through a divorce? Have you got an expensive legal case to pay for? The millionaire home owner does not want the world to know about any negative side to their financial situation. These types of questions are not only a source of embarrassment but could actually affect an individual’s business.

I want to have a peek at how they live!

Well I admit it I want to have a look at that stunning luxury home. We are all curious and when it comes to luxury homes, we would all like to marvel at the tennis courts, swimming pool, helicopter landing pad, and designer bedrooms. So to sell a home you must not only be able to understand the seller but also the average buyer. This will help reduce unnecessary intrusion into the lives of Millionaire home owners selling a luxury home.

Some home truths for Millionaire dollar home owners

To sell a home it unfortunately requires marketing. The Luxury home buyer is a rare breed and they need to see pictures and learn intimate details about your home. But most of all they need to find your million dollar home for sale. The more expensive a home the more likely that the buyer will be from out of state or even from overseas. Marketing your luxury home on the internet will be essential. Find a property web site that represents similar homes and is not hard to find. You will need a web site that is found easily in the search engines. For example go to the world?s busiest search engine google.com and type a typical search term that a luxury home buyer may use.

For example

Millionaire homes,

Millionaire houses,

Million dollar homes,

Luxury homes.

Choose an agent or property web site that makes your home easy to find. The trick is getting a genuine buyer who has the means and intention to buy a luxury home. Our experience shows that genuine buyers will not mind being subject to a few searching questions. This is especially the case if they are really keen about buying your millionaire home.

Your secret is safe

This special part of the housing market requires people that can show empathy for both buyers and sellers. Getting into the mind of a luxury home owner and understanding the mindset of millionaire home owners is not only professional but is essential.

Tags: selling your house, sell home, selling your own home, sell house

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Selling your home is a major life event; buyers and agents will come and go on a regular basis. Getting top dollar for your home takes a little know-how and insight on the little things that just might ?make or break? a sale. Listed below are a few things you can do to boost the value of your home believe us?buyers and agents will notice these things!!

Get your home ?white glove? clean this may mean wiping down windowsills, baseboards, around the faucets and switch plates. This might seem like a painstaking task, however a spotless homes sells quicker than a dirty one. Hiring a housekeeper for a one time super-spot clean may make the difference between three months on the market and nine

Get rid of any lingering odors: pets, cigarettes, mildew and dampness. If we can smell it, we can?t sell it.

Spruce up the yard; this is the point of first contact for all buyers. The first impression is always the strongest. Trim trees and shrubs, plant some flowers in empty flower beds, hang potted plants around the front door. The home should have an attractive and inviting feeling from the start.

De-clutter, de-clutter and de-clutter?.the family knickknacks or antique figurines may play a huge part in you family history, however buyers want to imagine their stuff in your home. They want to see the structure, not your personal belongings. Organize the garage, clear out closets full of stuff; rent a small storage unit just for a short time. Buyers don?t want to see how much stuff can fit into a home; they want a blank canvas to fill with their own personal clutter.

Remove outdated wallpaper and carpets; these are some of the biggest red flags for buyers. Use neutral colors such as beige or cream, these colors make a room look larger and will help the buyer imagine their stuff in the room. A buyer with blue couches does not want to walk into a room with bright yellow walls. Spend a little now, get a lot more later.

Clean tile grout and re-caulk bathroom fixtures. A fresh, crisp look is better than a worn look.

If the kitchen or bathroom is outdated, replace the faucets. A new, shiny sink head will attract more attention then an old worn one.

Paint the garage floor if there are old grease spots and cracks. This is very simple and rather inexpensive, and it adds to the clean, fresh look.

If all this seems like too much to handle, hire a home staging expert. The money you spend on a professional will come back ten fold when your house sells quicker than you imaged it would.

Tags: house selling, selling your home, sell home, selling a house

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“Defects When Selling Your Home - Fix Them or Leave Them?

When it comes to selling your home, you realize there are a limitless number is questions to be answered. This dilemma begins on the repair of your home, inside and out. Should you repaint, redo the flooring, get new carpeting, and so on. All of these decisions contribute to showing your home in the brightest light. Invest a little time and money into your home and you will likely see the returns. You can always decide to sell your home as is, although you might lose a significant amount of money.

It is shocking to see all the homes being sold with defects. Almost any home that is fifteen years or older has one or more serious problem. Even if you bought a newly constructed home that doesn’t protect you from shoddy construction, by the use of poor quality materials, or basic elements such as earthquakes, hurricanes, or common ground settling. It is rare that there is no physical defect of any type.

All sellers are entitled to disclose any serious problems to the buyer. Once informed the buyer can use the information and insist that the problem be fixed or agree to a significantly lower price. Failing to disclose problems isn’t an option, its illegal.

That said, now the seller has some important decisions to make. Now you are aware of a problem, should you repair it, or sell with a discount? Once it is fixed it isn’t an issue in sales negotiations, although you will be required to disclose that there was a problem, that you repaired it, and who repaired it.

There are three reasons you should repair a defect before you put your home up on the market. First of you don’t want to scare off any buyers. Most people don’t want to buy into a fixer upper, and even if the seller intend to fix up the property before they sell, many buyers believe what they see is what they get. Also by not fixing up even little things, buyers automatically feel that if the homeowners can’t repair normal wear and tear, what else have they let go?

Another reason to repair any damages before selling is because you can repair the damages cheaper yourself. If you disclose defect to a buyer that is interested in purchasing your home chances are they will want a top notch repair job, knowing you will be footing the bill and they’ll be reaping the benefits. In order to make the buyer happy you must obey, but had you dealt with the issue before hand, you could have gotten the problem fixed at a discounted rate had you searched around.

If you wait until you sell your home, and are forced to disclose all defects to potential buyers, chances are you will have to go by the book for repairs. If you tend to a problem before your home is on the market your repairs can be more creative.

There are also three reasons you might want to think about leaving the repair up to the next owners. First the buyer might not want to repair it the way you want to, maybe they want brick instead of concrete, or wood flooring instead of new carpet. Also the buyers might want to do it their own way. Maybe they don’t want the lowest priced, temporary fix you might be after, and you would have wasted your time and money. And lastly the buyers might not think it is too expensive to fix. Maybe they are contractors themselves or can get great discounts on their own? Any route you choose should be carefully considered.

About the Author

Published by Joe and Colleen Lane, Realtors?. The Lane Real Estate Team services Tri City Wa Real Estate, Kennewick Wa Real Estate, Pasco Wa Real Estate, Richland Wa Real Estate, and surrounding Southeastern Washington Communities.

Tags: for sale by owner, selling your house, sell home, selling your home

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First impressions are everything. As the popular saying indicates, you will never get a second chance to make one. Since the outside of your home is the first thing buyers will see, it should be made as presentable as possible. The lawn should be neatly manicured. If there is a garden in the front yard, it should be manicured as well. Shrubs should be trimmed. A fresh coat of paint on the outside of the house will make a good impression. Alternatively, you can have the house pressure washed to make it look new.

Once you have cleaned up the outside of the house, then its time to take care of the inside. You should first focus on the rooms that are used most often. This includes the living room, kitchen, and bathrooms. Clean each of these rooms thoroughly. Don?t have any excess junk lying around. If there are scuff marks on the walls consider touching these up with paint. Buyers want to see how well your home looks, not how well it could look.

Many people are looking for large storage spaces. Organize your closet, attic and basement, to show just how roomy the space really is. Use this as an opportunity to do the organizing you?ve been planning to do for so long. Donate unwanted clothes to charity, return borrowed tools, and get rid of unnecessary items to free up some space.

Tags: home selling, selling a home, sell home, sell house

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?Buyers:
oContact a realtor, who elicits from them what type of property they wish to purchase.
oThe realtor shows them several properties, until they make an offer on one and it is accepted.
oThey go with the realtor to the mortgage lender, that the realtor may have lined up for them and set the appointment. The buyers provide any information the lender needs and signs the appropriate paperwork.
o The buyers and realtor meet at the closing to sign all the papers, get the keys, and go to their new home.

?Sellers:
oContact a realtor, who discuss with them their pricing preferences and timelines for the sale.
oRealtor does a walk-through of the property, suggesting things that should be done before listing the property.
oSellers make the repairs or renovations.
oThe realtor lists the property.
oThe realtor, as well as other realtors, shows the property to potential buyers until an offer is made and accepted.
oInspectors and appraisers show up, then leave to make their reports, and the realtor gives the results to the sellers and buyers? agent.
oOnce the realtor tells them everything is complete, the sellers move out before the closing.
oSellers and realtor meet at the closing to sign all the papers, sellers and realtor receive their checks, and they hand over the keys to the property.

This is very simplistic; yet when a realtor is handling your buying or selling needs, this is pretty much how it appears.

Of the homes sold across the nation, 20 percent are sold by the owners, without a realtor. Surveys show that the primary reason is money; the sellers wish to save the cost of a realtor?s commission, which usually ranges between five and seven percent of the purchase price of the home. Unfortunately, many of these owners end up regretting their decisions, because it costs them that five-to-seven percent or more due to unexpected pitfalls in the sale.

First, there is a lot involved in the sale of a home. Realtors assist with the before-listing preparation; help you set a starting and deal-killer selling price (the price level you will not accept); setup and hold open houses; set up and coordinate all home inspections and appraisals; and set up and coordinate a real estate attorney and the closing. Realtors market your home to a broad base of interested buyers and other realtors, show your home or coordinate with you for other realtors to show it, negotiate offers, and close the sale. They even coordinate the timing of the sale, when you are buying other property that is dependent upon the sale of your home.

For buyers, realtors first help you to determine just how much you can afford to pay for a home ? it is generally more than most people believe. They then weed through the myriad of homes that are on the market, matching potential homes to your purchase specifications. They arrange to show the homes to you, assisting in what to look for, what questions to ask, and after-showing discussions with you on possible problems or good points of the home. Realtors assist you in making an appropriate offer. They do all of the negotiations for you, representing your best interests ? especially important when a seller has a professional representing them. Once your offer is accepted, the realtor may even suggest mortgage lenders and accompany you to your first meeting. Your realtor then works with the seller?s representative to ensure all inspections, appraisals, title searches, and permitting is properly completed, negotiating for you resolutions to any bad inspections. Again, working with the seller?s representative, the realtor coordinates a real estate attorney for you, as well as the closing.

Realtors know the right questions to ask ? it is their job as professionals to keep abreast of the real estate market for their area. They handle any problems that arise, protect you as the buyer or seller, know what to avoid in real estate and during negotiations, and know what is/is not covered by the home warranty of the sale. They also ensure that all compliance and disclosure issues are dealt with properly, making sure that nothing is overlooked that could cause you a legal problem in the future.

Most importantly, a realtor maintains objectivity during an event that can be emotional for both buyers and sellers. Your realtor remains objective during negotiations, executing the best deal possible for you.

To avoid the pitfalls of selling or buying property, use a realtor, who may save you a lot of money in the long run.

About the Author:

John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com

Tags: home selling, selling a home, house selling, for sale by owner

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So let’s begin our lesson on truth vs. bullcrap about selling a home. An article recently came out (see related links) about how the Newspaper Association of America was running an ad campaign promoting papers as “a destination, not a distraction.” Anybody who keeps up on news knows that newspapers are suffering greatly in terms of lost revenue from ad sales and plummeting subscriptions. “Real estate agents and real estate advertising are undergoing a very significant transition period, which is certainly not a surprise,” observed Peter Zollman, founding principal of Classified Intelligence, publisher of the Real Estate Advertising 2006 report. “And when it comes out the other end,” he continued, “online will be a substantial winner and daily newspaper print is going to be a significant loser.”

An article came out in Businessweek.com that noted how the Net now drives much consumer behavior including real estate. The percent of buyers who found their home on their own before contacting an agent jumped up to 24 percent, from 15 percent in 2004 and 2 percent in 1997. Only brokers themselves point out more homes to consumers, at 36 percent. The article noted newspaper ads accounted for only 5 percent of sales, according to the NAR. So this is why the $$$$ is shifting away from newspaper ads–the ads cost lots of money but do nothing except make the seller feel better that they see a picture of their home in the newspaper. Much of the 6% listing commission goes to pay for these print media ads which are how the listing agent’s get sellers calling them to list their homes in the first place. This brings to mind a rat race of sorts in which nothing is being accomplished except that Sellers’ money is being wasted running in circles but getting nowhere.

So let’s get more specific and wrap up this post with data compiled by Leslie Appleton-Young, the chief economist and VP of the California Association of Realtors (www.car.org):

• 100% of buyers started looking at homes first online and agents second

• 92% of buyers found their agent on a web site

So if a buyer searching for a home in your general neighborhood such as “Arlington VA real estate” the buyer is not going to find any of the high powered listings agents′ websites (i.e. your home’s photo/ad/address) in the top 10. That’s not how most LA’s operate

• “Internet buyers bought a home on average after spending 2.2 weeks looking for a home with an agent traditional buyers spent an average of 7.1 weeks”

So the buyers that search for your home online–not through the listing agents′ websites–are much more prepared to do business (i.e. write a contract on your home) than other buyers

• The approximate distance between previous residence and new residence for traditional buyers was 25 miles; for Internet buyers, it was 242 miles (you can sell anywhere compared to traditional ways)

Having a high powered online agent gets your home attention from around the country, not just from some people checking out once in a while a copy of the local newspaper

• article went on to say, “The money you may spend on brochures, ads, newspaper ads, and the like should be reconsidered and placed into Internet marketing.”

The good news is that MUCH internet marketing costs MUCH less than print media advertising–that saves you $$$$ with somewhat of a discounted listing to be decided between you and your realtor.

• finally 70% of people 65+ read a daily newspaper but only 35% of 24 years olds do. “Print is dead to this generation of home buyers.” Whose going to buy your home, Mr. Seller (although it the seller is single it’s likely to be Ms. Seller since far more single women are buying homes today than single men–more on that another time)??? Somebody who is 65+ or somebody in their 20-30s and even 40s? I submit a younger buyer will purchase your home and he/she will not be looking for it in the newspaper and therefore you shouldn′t be paying for it.

So let me hook you up with this article entitled “Help I Can’t Find Your Agent”. As she states so eloquently, “If you can?t find any trace of your Realtor on Google, do you think your agent has a strong plan for marketing your home on the web?” [and as I hope I've demonstrated, paying out the nose for ads in your local paper isn't a "strong marketing plan"].

“Glossy magazines are pretty, but I can tell you I?ve never gotten many calls off of those ads. The weekly newspaper? Forget it. Who wants to search through completely unorganized little boxes with blurry black and white photos that leave your hands smudged?”

Google your agent’s name and what do you find? I searched the following phrase, “jay seville” remax and got over 1500 results. I searched the listing agent who lists most of the homes for 6% commission in the neighborhood I used to live in Madison Manor, ” ” weichert and found 1/3rd the results. And when searching for “arlington virginia real estate” or arlington va real estate” or “arlington va home prices” and countless other variations my website was always there for buyers to find a potential seller’s home for sale and the listing agent’s website was/is nowhere. That is the norm across the country. Listing agents don’t get business from their internet sites to list homes, they get that through attracting homeowners with all their print media advertising. The irony is that buyers find the sellers′ homes through the selling agents, so why are the sellers even paying the listing agents? Shouldn’t they just use the selling agents (buyer) to list the home in the first place and save money?

Conclusion: A high powered online agent can sell your home for less by not wasting money on worthless marketing. Even if that realtor doesn′t live in your neighborhood he still knows how through countless online methods to get your home far more attention than almost any “listing agent″ for less $$$. For example, with 300+ visitors a day to my website where your listing is featured, not to mention the other venues I use outside of my website, you’ll get the far more exposure than traditional media ads locally. And most of the potential buyers that are looking at all at print media ads are still part of those using the internet to find homes; so you lose almost nobody with this approach. I get buyers from all over the country asking to see specific homes in the MLS since my site meets their MLS needs for all of NOVA and DC. And it’s me they find, not guy smiley in the local newspaper who loves pics of himself on everything. This principle of using the high powered selling agent instead of the listing agent who gets website traffic for your search area to list your home more effectively for less than 6% can be applied all over the country. I use myself as an example only.

Tags: selling a home, selling your home, sell house, for sale by owner

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Preparing your home for sale is essential for getting it sold and getting top dollar. Owners who take a little time to prepare their home will net thousands more dollars than those who just put a sign in the yard. Which upgrades add value to your home is a topic of much debate. However, cleaning and painting are small changes you can make that will definitely bring you the most in return. Do not put your home on the market before it is ready. You only get one chance to make a good first impression.

Paint
You can?t predict what your buyer?s taste in color schemes will be, so you want to market to the average buyer. Paint your home in bright neutral colors so that they will be able to visualize themselves living in your home.

Keep it clean
Make the bed, put the dishes away, and hide the kids? toys. You should also consider hiring cleaning professionals to come through and give your place a deep cleaning.

Odors
Be careful of strong cooking odors like onions and garlic. Pet odors are also a big turn- off for buyers. Put litter boxes in a place that will contain the odor. Do what you need to do to remove pet odor from carpets and furniture. Fabric freshener like Febreze can help make your space smell cleaner.

Light makes your home look larger
Clean the windows and keep all window blinds and shades opened. When possible, turn on as many lights as possible, even during the daytime.

Remove personal effects
Your personal items are a distraction to buyers. Put away your personal pictures. Remove any distracting art from the walls. You want buyers to be able to visualize themselves living in your home.

Landscaping
Mow the lawn; generously water and fertilize it. Clear the weeds that grow up along the house. Prune overgrown trees and shrubs. Remove any unnecessary equipment from the lawn. Put bicycles and kids? toys in the garage. Get rid of run down playground equipment. If the exterior of your home is uninviting or rundown this is the first impression that the buyers will have, and it will be a hard one to recover from. To get an objective view of your home try standing on the other side of the street or a few homes down and comparing the exterior of your home to your neighbors? homes.

PRICING
Pricing your home is the one of the most important parts of your marketing plan. Too high a price and your home won?t sell, too low a price and you lose money. In a hot market you have much more room to experiment. If your market is slow or slowing, pricing becomes much more crucial, and you?ll want to get it right the first time.

Comparables
When Realtors price your home, they use a method called a CMA, or Comparative Market Analysis. They compare your home to homes that have sold in your area within the last 30-90 days, and to homes like yours that are currently on the market. The formula is simple but the real value comes from knowing which comparables to pick. Two CMA?s done on the same home can vary greatly if the same comparables are not used. This can be difficult to perform objectively. If you think it could be difficult for you to look at your home objectively, it might be best to get a third party opinion. Below are a few things you will want to consider when comparing your home to the competition:

Square Footage: This is a big one. Buyers often use square footage in comparisons, and on occasion use a dollars-per-sq.-ft. analysis when analyzing home prices.

Age: If your home was built in 1920 and one of your closest comparables was built in 1995, you will need to make an adjustment for this. As homes age they change categories. They can be new, outdated, old, or even historical. Again when picking comparables it is very important to compare apples to apples, so if possible keep the age of comparable homes within 5 years of yours.

Lot size: Try to keep comparables within .05 acres of your lot size. Also consider the position of the home on the lot.

Baths: The location of a bathroom can be very important. Having a bathroom off the master bedroom adds value. Also, keep in mind that there is a big difference between a full bathroom and a half bath.

Here are a few things to avoid when determining the asking price of your home.

Adding the cost of upgrades and improvements to your asking price: As discussed in another section, not all improvements will recover their costs at closing. Even if your home is substantially nicer than most homes in your neighborhood, you?ll need to make sure it is still affordable to the buyers who are looking to buy in your neighborhood.

Pricing your home based on what you want or need to get out of it: You might know the exact amount of money you need to achieve from the transaction, after the closing process, in order to put a down payment on your dream home. However, the buyers looking to purchase in your area are not concerned with your next home purchase. Be careful not to miss opportunities by pricing your home above market value.

NEGOTIATING

Preparation
There is no substitute for knowledge. Exercise diligence in your research and you’ll have an accurate assessment of the subject property’s value. This is the most important piece of information in negotiating a deal. All the arguments in the world won’t change the value of a property. If you’ve independently determined what that price is, then you’re not going to sell too low or pay too much. At this point, negotiating becomes an attempt to learn the other party’s level of knowledge.

Don?t feel pressured to answer right away
While you might be told the offer is only good until a certain time and date, don?t feel like you have to accept an offer right away or on the spot. Tell them you would like to discuss it with your spouse, or you would like to sleep on it, or perhaps run it by a friend or lawyer. You?ll find that the decision-making process will become much easier once you?ve had time to ?sleep on it? and allow yourself to go over all the information.

Be detached
The quickest way to lose control of a negotiation is to become too emotionally involved. Obviously, buying and selling something as expensive as a house is an emotionally loaded experience, but cultivating a detached demeanor will help convince your opponent that you are a competent negotiator who is comfortable with his/her position. Being too emotional will always be interpreted as desperation and that gives the upper hand to the other side.

Ask for more than you will accept
Even if both sides of the bargaining table have perfect knowledge of the property, they?ll still need to feel as if they have negotiated a good deal. It’s hard to feel you’ve accomplished something by negotiating if the starting and ending points are the same. Each party should feel that they′ve gained substantial benefit from the negotiation.

Get it in writing
Get the first offer in writing so you can see all the terms. A polite, “we will consider all written offers” can greatly enhance a nervous negotiator’s ability to control the process. It will give you time to evaluate the offer fairly and greatly reduce the effectiveness of pressure tactics. After the first offer you can counter verbally. Make sure that there is an attorney review period as part of the contract. During the attorney review you will want your attorney to be able to evaluate the contract and make any necessary changes or void the contract if necessary. Putting offers and counter offers through a fax machine a few times will make them unreadable. Once you verbally agree to the terms then get signatures on a fresh contract and send it off to your attorney for the attorney review period (usually around 5 business days).

We hope you?ve enjoyed these excerpts! To receive the complete, complementary For Sale by Owner guide to selling your home by Berg Properties, please visit:
http://www.bergproperties.com/fsbo_guide.php

Tags: sell home, for sale by owner, selling a home, selling your own home

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When the market is slowing down, ideally it is not a good idea to sell your home. But if you are bent on disposing of your property, experts suggest that sellers act right away before prices further go down. Offering the best price to buyers would be a great solution.

It is a reality that not all homes for sale are purchased instantly lucky for those that are bought within days after hitting the market. However, some homes stay afloat for weeks, months or even years. Buyers usually consider several factors before deciding to buy a home they would like to live in. Sellers, for their part, should take extra effort to make their homes and deals appealing to potential buyers.

Things to do

There are several important steps you need to follow to ensure that your home will attract buyers in a cooling market. Your priority should be to research on your local market and look into other homes for sale, their asking prices and the prices paid by buyers. Know your local market trend and current market values by checking the Internet, your local newspaper or real estate publication. It?s also best to visit open houses in your area to monitor competitors.

Set a competitive and fair price for your home. Keep in mind that there are numerous properties on the market and buyers have a lot of homes to choose from. Do some online research and find out the local selling prices. Experts suggest pricing your home a little lower won?t hurt that much.

Do your own marketing. Use the Internet and some networking to find a buyer for your home. Come up with your own property brochure and email it to real estate companies. Also, talk to your friends and relatives about spreading the word to anybody interested in buying a home.

Negotiate well and offer incentives if possible. Potential buyers will surely be enticed if you offer to pay for some minor repairs in your home and other expenses. You may need to shell out money but this may actually earn you more in the end.

Impress your potential buyers by improving your home?s appearance. This is one of the best ways to speed up the sale of your home when there are more properties on the market. Clean up your home, inside and out. Repaint walls if needed. Take away clutter to create more space. To rid of your extra belongings, you may hold a garage sale or donate them to charity. Also, find out the popular look of homes in your location and be not afraid to follow them. You can even landscape your front yard if you wish.

Join an auction

Some homeowners are opting for a different strategy in selling their homes at a time when the market is slowing down. They are putting their homes on auction for a faster sale. Auctioneers have confirmed this demand since housing markets started cooling down in the previous years. The National Auctioneers Association (NAA) report that auctions of residential properties in the U.S. in 2005 went up by 8.4% from the 2004 figures totaling $1.4 billion.

Real estate experts say home sellers in America have a tendency to use auctions when the housing market is not doing well. It was in the late 1980s and 1990s when home auctions became highly popular as home prices dropped in several parts of the U.S.

Home sellers, however, should be aware that auction services are costly. They usually charge commissions and marketing fees worth more than 10% of your home?s value compared to the five to six percent rate asked by real estate agents. Bidding results may not always be very satisfactory as your homes could end up being valued far lower than you expected. Nevertheless, auctioneers explain that their service fees are reasonable considering the fact that they can sell your homes faster than the conventional method.

Tags: selling your house, home selling, for sale by owner, selling your home

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