Real Estate Tip of the Day

Today's message is for the seller who is trying to sell their home and it is still on the market. It is time to redefine "Market Value". Steve McLinden of Bankrate, Inc gave the following advice....If your home has been on the market for too long, there's a good chance you're not facing market realities. The value of your home isn't what the tax assessor says it is, or the sum on that 2 year old appraisal you have filed away. It's not what a simiar size home that sold across town. It's what a buyer is willing to pay today. To arrive at that sum, the sales prices of forelosures and short sales must be factored into the equation, along with the average value of seller concessions in your submarket. These facors are advanced by the Federal Housing Finance Agency, in its appraiser code-of-conduct revisions to ensure more acurate documentation of market conditions. If your agent tells you that you're overpricing your house, he or she may not just be trying to grease the wheels for a quick commish, as you might suspect. They may be doing their job and trying to sell your house.

This is powerful advice. Sellers take heed...buyers truly set the sales price...if you are not getting showings, it is time for a price adjustment.

Market Watch Report

My good friend Phil Fidler of Axiom Financial sent me the recent issue of Axiom's Market Watch. It has very valuable information in it about the Real Estate market. To check out the latest issue and sign up to receive the report go to the following link. You may have to copy and paste the link to internet explorer.
http://axiomfinancial.com/market-watch.htm

2011 will be what we want to make of it. We have the chance to write our own story. Let's all make it a great one.

Who do you know that might be buying or selling real estate.....I would love to help them.

Debbie Cheney
Coldwell Banker Residential
801 573-8338