4641 Lemonwood Court, Odessa, TX 79761

by qtrudyt 6. June 2011 17:28
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PRICING UNDER PRESSURE

by qtrudyt 12. May 2011 18:17

Deciding on an asking price for your home is challenging enough these days, but you need specific pricing strategies for particular scenarios, especially if you're under pressure to move quickly or your home isn’t selling after being on the market for several months.  Here are suggestions for both situations.

 

If you're facing a deadline due to job relocation or other reasons, then you need to price competitively, even more competitively than expected in today's market.  You'll need to list at significantly less than your competition.  Think 15% less.  That may seem tough to stomach, but it’s better than continuing your monthly loan payments or the hassle of trying to find tenants to rent your home.

 

If your home has been listed for some time, but not generating interest, you'll need to lower your price.  Of the three elements that sell a home - price, location, and condition - price is the one you'll have the most control over.

 

If home values have declined in your neighborhood, the price you originally listed at a few months ago may now be too high and out of line with comparable listings.  Now would be the time to have your real estate agent prepare a new Comparative Market Analysis (CMA) and reevaluate your pricing strategy.  If you've got to sell, and sell now, price it like you mean it.

 

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4661 Orchid

by qtrudyt 10. May 2011 18:36

4661 Orchid, Odessa, TX 79761 Appraised at $245K. Sales price now $234, 900.  Must sell immediately. call me. $1,000 bonus to selling agent who gets a contract on 4661 Orchid, Odessa, TX 79761 by 5/15/11.

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SMOOTH SAILING

by qtrudyt 16. April 2011 09:54

As a buyer, you want your offer to be accepted and your contract to close on schedule.  However, in today's climate, you should expect some negotiation, and submit your offer with the following advice in mind.

 

The financing contingency in your offer will state your loan total and anticipated interest rate and approval date.  Strongly consider locking in that rate with the lender, as rates are still very low, and you'll avoid any future fluctuations in the market.

 

Reserve funds now for your settlement costs at closing.  Anticipate anywhere from 2% to 6% of the amount you're financing, plus your down payment (less any earnest money you offered as a deposit), which will be presented in the form of an official (cashier's) check.

 

If your down payment funds are not in an immediately liquid account, keep things on track by moving the funds into your checking account at least a week before closing, so you're sure that you'll be able to access the money in advance of the closing date.

 

Finally, try to avoid a closing date at the end of the month or the end of the year, as these are the busiest times for lenders and could cause undue delay in meeting your approval deadline for financing.  Speak with your agent about other factors in crafting your offer and successfully closing on schedule.

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