Did you see the Parade insert in yesterday’s Murfreesboro Post? There was an article that had some great advice for buyers and sellers, entitled, “The Best Strategies for Right Now”.  Here is an excerpt of some of their best advice: 

IF YOU WANT TO SELL…

Think twice before you sell. This is a bad time to expect big returns. If you don’t have to sell now, don’t. Make inexpensive improvements and wait until market factors are more in your favor.

Find the best broker. A year ago, you could have asked agents to cut their commissions because houses sold themselves. Now you’re better off paying the full 6% to ensure you’ll get the best service. Local agents are best. They know the selling points of your community—and your house—and can be present to show it to buyers at a moment’s notice. Look for pros with at least eight years’ experience. If they worked in the business before the boom, they’ll do more than just weigh the best offers. 

Make sure the price is right. A good agent will know what numbers get the best response from consumers. Studies show that buyers react to break points, or psychological limits. For example, a buyer with a budget of $250,000 may be willing to pay $249,000 but not $251,000. If your home is valued at $310,000, consider listing it at $300,000 or even $299,000 to maximize its sales potential.
To view the entire article:

http://www.parade.com/articles/editions/2008/edition_05-04-2008/2Best_Strategies_For_Right_Now

Courtney can be seen on our local newspaper’s website, talking about the fundraising efforts of the Heart of Tennessee Chapter of the Red Cross.  Courtney is the Fundraising Chairperson, and was attending a victory celebration.  It’s a great little video, if you want to see it just click on this link:

http://www.murfreesboropost.com/mod/video/viewvideo.php?id=10

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent’s knowledge of the overall market and what’s selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won’t leave money on the table.

Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).

Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.

Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.

If you are thinking of selling your home, call us at 615.207.7653 or email us today at info@myteamyates.com for a Market Snapshot of your area, or a Comparative Market Analysis specifically for your property.

Welcome to our Blog! We hope to provide you with valuable information, tips, and general insight into the real estate market in Murfreesboro.