We Won't Sell Your Home

Probably.  That's right, the odds of Liz and Bill Spear of RE/MAX Elite actually personally escorting the buyer through your door if you list with us aren't great.  We're 10 to 1 longshots on us bringing you the buyer that writes the contract that leads to the actual sale of your home.  The odds are MUCH higher than one of the other literally thousands of other area REALTORS® will bring the buyer for your home.

Now what we're NOT saying is to hire one of those other REALTORS® to list your home!  Because the truth of the matter is the odds don't go up significantly that any one of them has that magical buyer either. 

During the listing agent interview process you may hear "I have buyers!"  Stop and think about that for a second. 

What is the likelihood that any individual agent has a buyer that is:
a) looking in your town? 
b) looking in your community?
c) looking in your price range?
d) looking for a home with your EXACT characteristics, floor plan & features?

We're being honest with you when we state the odds just aren't good of having that perfect match.  But hey, let's assume they DO have that perfect match, whether you list with them or not, they should be bringing that perfect match buyer to your home as soon as you're on the market, right?  They should be first in line because they've already seen your home, KNOW that it matches their buyer and they'll want to have first dibs on your home.

Basically, our role as listing agents is to CAUSE the sale of your home, not necessarily to personally bring you the buyer.  Again, chances are it will be one of the thousands of other agents working our area that will have THE buyer for your home.  We'll work with you as the home seller to get it priced right and prepared properly to make your home the most appealing it can be to buyers.  Couple that with an extensive marketing approach (pictures, write-ups, visual tours, etc.) across as many sites as possible increases the odds of that one right buyer locating your home and pursuing their interest. 

So hire your listing agent based upon their ability to market your home better than anyone else, NOT because they say "I have buyers!".

To find out more about how we can successfully market your home and fulfill your real estate goals, just contact The Liz Spear Team of RE/MAX Elite.  The consultation is free, and it's no hassle, no pressure.

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

The Liz Spear Team
Elizabeth & William Spear
RE/MAX Elite:  Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Office direct: 513-248-3660  Liz direct:  513-265-3004
Bill direct: 513-520-5305 Fax: 866-302-8418     

MailTo: Liz@LizSpear.com  Our Website: Warren County Ohio Homes

 

 

 

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How To Win in a Multiple Offer Situation when you are limited on price

Well, it seems that we're back in the type of market where multiple offers are becoming common.

There's a mixed bag of buyers out there - conventional buyers, FHA buyers, VA buyers, and all-cash buyers and investors.

In a multiple offer situation, the offer price is probably one of the biggest factors when the seller is deciding which offers to entertain or accept.

But what do you do when you've reached your affordable max and can't really come up any more in price?

Here's just a few things that I recommend to my buyers.  It requires a little investigative work, but it may pay off for you.

1. Find out where the seller is moving to, and what logistics are involved with that - Is is the case where and when they're moving may cause them need a short rent-back from you?  In other words, after the close of escrow, it may help if they stayed in the home anywhere up to 30 days in which they can pay you based on your P.I.T.I. (Principle, Interest, Taxes, Insurance) calculated on a daily rate, or if you're in a financial position to do so, offer them a free rent-back period.  A good example is when the seller's new home is not quite ready to move into and they need just a small amount of time.  Offering the seller a rent-back is HUGE when it comes to these situations.  No seller really wants to have to go into temporary housing and have to move twice!

2. Do the sellers have any pets that for whatever reason will be difficult for them to take to their new home?  Once again, if you're in a position to do so, offer to adopt the pet.  Or perhaps there is someone you know that may want to adopt the pet.  This is a major relief when a problem arises for those sellers that are moving to an environment where the little guys may not have as friendly and safe of an environment.  And since the pet is already accustomed to that home, there shouldn't be too much of a transition for the pet other than getting used to their new owners.  Something like this can truly set you apart from the other buyers tremendously.

3. Write a fast inspection period into the contract - The standard contingency in California is 17 days to perform an inspection and remove that contingency to the contract.  But honestly, you can get a certified inspection booked in a matter of days and get that all taken care of with your inspector in most cases.  Try changing that inspection period to 10 days.  Why? It shows the seller you're willing to get your due diligence done quickly and efficiently.  That can score quite a few points with both the seller and listing agent.

4. Offer to inherit personal property that would be difficult to move - Is there any personal property that is large or difficult to move that would create a huge cost factor for the seller?  Offer to keep the personal property or purchase the personal property depending on what type it is.  Maybe there are some old paint cans or bricks/boards, etc. on the property. This can save the seller a lot of money not having to pay to move items that could create a substantial moving expense.

5. Write a personal letter to the seller that you've found you have a connection with - Do you and the seller both have children?  Pets?  Belong to the same organizations / clubs / charity?  Share the same spiritual beliefs?  Taste in architecture?  Perhaps you share similar life experiences?  Writing a personal letter to the seller that is sincere and makes some kind of connection or that creates some kind of bond with them can be HUGE in their decision to choose a buyer in a multiple offer situation.

6. Assure the seller you will continue to use their existing contractors - It could be that the gardener, pool service person, pet sitter, pest control, etc. are contractors that the seller has known for many years and feels badly that they will be moving and perhaps they will no longer have the work associated with the home due to a new buyer living there.  Offer to keep those service providers employed when you take possession to the property.  In most cases it may make sense for you as well, but the gesture could mean a whole lot to seller that is conscientious about relationships.  It could also be the case where you may be able to assume any outstanding contracts that would otherwise cost the seller a lot to cancel.

Have I divulged ALL of my buyer strategy secrets?  Of course not! Those are reserved for the buyers who I'm fortunate enough to work with.

The best advice I can give a buyer is:  BE A STRAIGHT SHOOTER AND WEAR YOUR HEART ON YOUR SLEEVE.  Don't be crafty or coy.  It never works and you'll always create an environment of mistrust and animosity, and that's a recipe for disaster.

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55 Plus Community...Are we doing it wrong?  This is just my opinion
and 2 cents, however, I welcome yours.  From my observation there are more and more people in this age group that do not want to reduce the size of their home but solely just the maintenance aspect of it. I believe this is one of the main reasons why they continue to hold onto their homes.  Take for an instance my mom, she will be 70 next year.  In excellent health, still works full time, owns her own home, and I don’t see her slowing down anytime soon.

I know many of you will say there is no way I would be working that late in age, however, be careful because you just never know. I don’t see why she should stop.  When she is ready to take a break or vacation it’s done. One of the joys she continuously tells me is her space...she just does not want to give it up.  Loves her neighborhood and also has acquired a particular taste.  As I watched her this
Mother’s Day caring for her lawn and

flowers, I saw it gave her a calm and peacefulness that only she will get by doing it herself. Something she enjoys doing all year round.

My point is when I mention downsizing, her belief is that I am asking her to trade in the Mercedes SUV to a van. This not only pertains to my parent but to other folks she knows and I have spoken to.  I understand that climbing stairs is a major avoidance for many, but some elders still have grown children that still reside with them which can be a benefit to them. How about adding an elevator instead? Making attic space or basements into bedrooms for when children do visit is a necessity.  Just because you are getting older doesn’t necessarily mean you want less choices and variety.

Serving all areas of Prince William, Fairfax, Stafford, Alexandria, Arlington and Spotyslvania Counties. Guiding you through the process of purchasing or selling residential property.                 

                                                                                                                   

 Cheryl Thomson, Realtor ® | 703.216.5635 | cheryl@buyercoach.com | Buyers Advantage Real Estate Corp | 4004 Genesee Place, Suite 113, Woodbridge, VA  22192

 

            

                                                                                                                                                    

                                                                          

Home Sellers often ask me if they can just give buyers a credit for minor repairs.

I suggest that they take care of minor repairs prior to listing the house.

Homes that show well sell for more money and they sell quicker than homes that need work.

We can  list your  home  as 'handymen special' if you wish but it   may sell at a deep discount. eg if a home needs repairs worth $2000 a buyer may think it needs work worth much more. You may offer to give them a credit of $2000 but they may ask for more.

Many buyers are turned off by homes that have minor  maintenance issues. They may wonder if there are some  major things that are wrong with the house , if you did not even take care of minor repairs.

Some of the minor things I have noticed over the years are :

 1.  Door bell not working.( Buyers ask if there is something wrong with the electricty.) 2.Difficulty in opening doors or locking doors .3.Toilet running 4.Leaky faucets.5.No battery in some items like openers,smke detectors etc 

When it comes to return on investment you can usually recoup the cost of minor  repairs.

Another problem you may have is with the lender. Lenders allow a certain amount of credit at settlement and if it exceeds the amount the loan may be denied. This may happen if you are helping buyer with closing costs. Lenders have guidelines about the condition of the house . There is a list of items that appraisers check. The borrowers mortgage company may require that some repairs be made before settlement .

When you are ready to list your home consult your real estate agent . The agent will make recommendations that will help you get the highest price in the shortest possible time under current market conditions. The agent will also take into consideration your financial situation. We do understand that many home owners are facing financial problems .

Please read Home Seller FAQ 1. How shoild I choose an agent to sell my house http://actvra.in/zZ8

Home Seller FAQ 2. Why should I leave the house during showings  http://actvra.in/B2s

 

Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com

She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email gita01@aol.com

If you would like a FREE MARKET EVALUATION OF YOUR HOME IN PHILADELPHIA, BUCKS or MONTGOMERY COUNTY call me at 2152758491

 Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others  in my post and comments is not to be construed to be  legal advice.

IF YOU WOULD LIKE TO SUBSCRIBE TO MY BLOG         CLICK HERE   OR EMAIL ME AT Gita01@aol.com

 

Ten years ago hardly anyone had heard of a short sale. Now, since the real estate bubble burst, “short sale” is almost a household word here in the Los Angeles area.

The current situation is the result of several converging factors.

First, when the bubble burst, homeowners who purchased when the market was rising or had reach its peak, lost value. That might not have mattered if two other factors hadn’t come into play at the same time:

• Adjustable rate mortgages reset, making mortgage payments double or triple
• The economy tanked and people lost jobs

If you find yourself unable to keep up with monthly payments on your house because of these factors, you do have some choices. If you don’t mind moving, the short sale is a good choice, but what if you’d like to keep your house? Refinance: Some programs will allow you to refinance up to 125% of your home’s current value – and lower your payments via lower interest rates. The FHA Short Refinance program will reduce your first mortgage to 97.75% of current value. If you are fortunate enough to have a loan that belongs to Fannie Mae and meets the timing criteria, you may be able to refinance without having an appraisal at all!

Reinstatement: If you’re in pre-foreclosure and have come into some extra money, you can reinstate your loan by paying the defaulted balance plus interest and late fees.

Loan Modification: Depending upon who owns your loan, you could be eligible for HARP, HAMP, FHA-HAMP, or the USDA’s Special Loan Servicing. If you are having trouble making making payments but are employed and can still qualify for a loan, it’s possible that your current lender will work with you to lower your rate, lower the principle owed or even both. It can’t hurt for you to call the number on your mortgage statement and ask.

Forbearance: Again depending upon who owns your loan, if you are unemployed you may be eligible for 12 months of forbearance. During this time, you’ll be required to pay from zero up to 31% of your income toward the payments, but the bank will not add late fees or penalties and cannot start foreclosure. The unpaid amounts will be added to your loan balance for later payment.

Here in California, you may also be eligible for assistance from “Keep Your Home California.” For details, call 888.954.KEEP.

Bankruptcy: In some cases, judges allow homeowners to keep their homes – sometimes even reducing the principal balance. Do consult a qualified real estate attorney before considering this option. Alot will depend on the type of bankruptcy. Sometimes you can forestall a foreclosure but not be able to keep your home indefinitely. In such a situation, a short sale could be your best course of action.

More Help May be on the Way…

Expanded HAMP programs will be go into effect June 1, 2012. So even if your lender has deemed you ineligible for assistance in the past, it would be wise to check back after the new guidelines are in place.

To learn who owns your mortgage loan, visit Making Home Affordable.

If you own a home in Silver Lake, Los Feliz, Hollywood Hills, Eagle Rock, Pasadena, or surrounding areas and you’ve decided that a short sale is the best option, or if you just need to discuss your options with a real estate professional, get in touch.

I’ll be glad to go over the specifics of your situation with you and help you determine your best course of action.

You can call me directly at 213-215-4758 – but hurry. Don’t wait until the bank makes the decision for you.

Jenny Durling
Broker Associate
LA Property Solutions
213-215-4758

Copyright © 2012 By Jenny Durling * What are the Alternatives to a Los Angeles Short Sale? *