Nov 30 2017 51345 6

Dated: 11/30/2017

Views: 144

Sellers should think like an appraiser!


Selling Real Estate can be a pleasant experience or it can become stressful especially if you're not educated with what's going on in the Real Estate market. And I don't mean going on the internet and reading what the media puts out. My advice is to call your local Realtor and ask for a current comparable market analysis that would cover the last 6-12 months. This report will tell the sellers what the range of value is in their area. By getting this current source of information... you'll most certainly reach your goal quicker of successfully selling your home.


Some of the information that you are provided might not be 100 percent accurate because some listings expire, get re issued with new MLS numbers just to alter the Days on the market and some of them will either never sell or end up being re-positioned in the market with-in a true range of value or if they were overpriced, they get reduced back the original suggested listing price. Some homeowners are becoming more realistic or more motivated to sell....but then there are some that are not and that's their prerogative.


Most of them will eventually realize that pricing them correctly will save them time and money in the long run. Some owners just wait too long before they realize that now that the value is even lower than it was originally worth and that can become a real mess of desperation. Some homes just sit for very long periods, with homeowners hoping someone will come see the property and make them the offer they are looking for. Think of it like being on the line at the supermarket. ....Which line do you want to be on?Do you want to be on the longest line or the shortest line?


As your Realtor®.... it's my job to help the homeowner by giving them the most realistic pricing goals.... but if they "still don't get it"...they probably are going to waste a lot of time.

I've been listing properties for sale for over 20 yrs and I'm not perfect but I've spoken to many appraisers to get their views on the subject.


The bottom line is that the seller can ask whatever they want but if it doesn't appraise for the value of the purchase price...the price will have to be renegotiated or the contract canceled if both parties can't agree on the appraised value. The days of the buyer bringing extra cash over the spread is over.


Most appraisers will look at 2-3 closed sales and 1-2 pending sales within 6-12 months. They might also look at how many homes are short sales and foreclosures. Probably less these days but there are some still out there depending on your market. These properties are your competition and this can really effect the value of a traditional seller. There are many challenges for them to deal with and they need to work harder in order to properly make the right analysis in this ever-changing market.


Lender Guidelines are still getting tougher for buyers to qualify for some loans. I'm seeing more and more cash deals these days but most buyers do not have ability to pay cash and will need to find the best deal out there for financing.


Sellers need to answer this question....do you want to own it or do you want to sell it?

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Neal Bloom

With over 20yrs experience in Real Estate, Neal Bloom is a top notch REALTOR® specializing in the sale of real estate in Weston, Pembroke Pines, Boynton Beach, Davie, Cooper City, Sunrise, Coral Spri....

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