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Gretchen Papineau's Advice
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0 Best Answers
Gretchen Papineau wrote:
Haven't been able to sell. Do we sit tight until spring, refinance, rent it, lower price, etc? Help!
Think carefully about what your goals are for selling.When a house hasn't sold, it is important to ask yourself these questions:1. Is there any sold or underagreement activity in my price range at all?2. If so, how do you compare to those that have been successful?3.Are you getting showings, second showings and any offers?4 Have you really listened to your Realtor who is giving you good professional advice or are you trying to sell them on why things are the way they are and how good your house is?5. Have you critically looked at the condition of your house relative to what buyers in your town are looking for and expect. Some sellers kid themselves when they say they don't want to make changes because they might make a wrong choice. Your agent can give you good advice about appropriate selections. (I even go with my seller and make the selections for them when updates are called for).In my experience, waiting for a market cycle that will be "different" or renting the property to buy time has not produced better results for any seller I have represented. Good luck and we can connect to talk more.
October 13 2011
Is there still a bidding war out there?
We are finding that in certain price ranges, multiple offers are very common. Any price bracket that has less than 5 months of inventory, in good condition and staged well can expect them.
November 20 2010
How Long does the foreclosure process take in your state?
In Massachusetts, our team is finding that to successfully close on a short sale it will generally take 4-6 months.It is very important that the buyer understands the possible length of the time line.
November 20 2010
When do we start to worry about no showings on our townhouse? We've lowered the price over $13K.
The most important thing to look at is the Absorption Data for your town and area. This looks at inventory within the context of sales rates. The data will give you "months of supply" data. Six months is balanced inventory.If you are having a significant number of foreclosures, this may be the new baseline of "value" in buyers minds. If so, the reduction you took may still be out of line with the perceived market values. Good luck with your sale.
November 19 2010
Proper Pricing to "get it Sold"!!!
Such a concise thought. Overlay strong marketing and an effective networking plan and every property will sell. Buyers have access to such accurate data about sales that they become educated and won't overpay in most environments today.
September 09 2010
looking for a realtor in boston with expertise doing short sale transactions with bank of america
We have a proven track record with the Bank of America and other lenders. Additionally we have the CDPE designation (Certified Distressed Property Expert) and are knowledgable about the process. Please call us for information or if we can help in any way. There are solutions and options....
August 27 2010
Do incentives offered by sellers such as closing costs or gift certificates actual attract buyers?
In the Andover area, the better strategy is to have a strong showing property that is appropriately priced. Buyers react more positively to this. Also, it is difficult to effectively spread the word about allowances and closing costs thereby reducing their mileage that a Seller gains from this.
August 16 2010
how can I find out what my home is worth?
Contact several agents who specialize in your area. Ask about market trends specific to your town, and then drill down to homes like yours. Experienced agents who know the inventory, can describe the differences between your home and the comparables. Then you can adjust each home for the plusses and minuses versus yours. We then factor in market momentum, the value of your neighborhood or location, the quality of your lot and the upgrades you may have made. All these data points will give you a good sense of what to expect for a sales price. Then ask the agent about their marketing plan to achieve that price!
August 03 2010
Advising past clients about their equity position so they can reduce their interest rates?
We are meeting with our past clients to help them know their current equity position in order for them to take advantage of the low interest rates. Many homeowners are wondering if their equity position is strong enough to qualify for a new loan and worth the expense of paying the appraisal fee.
July 30 2010
Is the sale price really $1,500. ?
This is typically how a monthly rental cost would be shown. The property may also be for sale, and listed both ways
July 28 2010
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