One of the most difficult decisions for a home seller is to determine the Listing Price, or more commonly called the “asking price.” To help with this answer the seller’s agent typically will do market research to construct a Competitive Market Analysis, commonly shortened to CMA. The agent will research “comparable” properties to the seller’s … More Competitive Market Analysis, CMA
The seller of a property is the one who sets the listing (or asking) price, not the agent for the seller. The agent’s responsibility is to provide all of the factual information from which the seller can decide the listing go-to-market price. Every seller wants to get the maximum price they can for their sale. … More Risks To A Seller By Overpricing
One of the most difficult decisions for home sellers is the asking price. Many sellers expect their real estate agent to set the price for them, but it is not the agent’s responsibility to determine the asking price – that solely is the seller’s responsibility. The duty of the seller’s agent is to provide counsel … More Why Sellers Overprice
You want to buy a house. However, the housing market is described as a “Seller’s Market.” What does this mean? Generally the characteristics of a “Seller’s Market” are multiple offers from buyers, offers over asking price, all cash offers, short DOM’s (days on market), and some houses never go to MLS, meaning they are sold … More How to Win The Contract in a Seller’s Market
Every home seller wants two things: To get under contract (soon), and … achieve the maximum contract price. It is easy to understand why these are the seller’s desires. Also, it is easy to understand why sellers often believe that the best contract price will be achieved by listing for sale with the highest asking … More Overpricing Your Home Is A Mistake
Presently, two different Federal laws have defined different disclosure forms that are provided to consumers (buyers/borrowers) who apply for a residential mortgage. These different forms have been issued under the requirements of the Truth In Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). The Consumer Financial Protection Bureau (CFPB) has been directed … More What Are TRID Lending Requirements?
A key question for anybody contemplating the purchase of a home is how much house can you afford? The answer is not simple and requires the consideration of many factors. Where you are in your stage of life also greatly affects this question. Are you “first-time buyer” with little down payment funds and a young … More How Much House Can You Afford?