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Eric Hempler's Advice

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  • 116 Contributions
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  • 6 Helpful

Eric Hempler wrote:

Zillow's estimates are not reflective of the current home.

Answer
Mark,You may be able to use new construction as long as the features of your home match those of new construction. The easiest way to price a home is to compare above ground square feet. Sometimes you can get that from tax records. I typically use three approaches when pricing. - number of bedrooms, above ground square footage, # of rooms above ground and then I average the three. I also take out what the county reports for land value so I'm only comparing the improvements. But when you're talking about lakefront there are A LOT MORE VARIABLES. Such as, location on a lake, lake access, view, the quality of the lake, what you have for neighbors. Most agents would agree pricing lakefront can be the most difficult because the variables can be endless. For example, some lakefront homes have more trouble selling when they neighbor a park or boat launch. Some homebuyers perceive being next to a park as negative even though the homeowner finds it to be an advantage. Especially if the park is quiet. The homeowner knows this, but the buyer assumes otherwise. Once you're able to determine price the next best thing you can do is monitor the interest you get on the home with how many showings you get, views on various websites, etc. If you can find the data I would recommend checking out the average days on the market for the lake and price bracket. That will give you a sense of about how long it will take to sell. If you do good marketing, great pictures - please don't use your phone, maximize the exposure with a flat fee mls service (under $400) and price the home smart you'll get that home sold quickly. I also recommend buying a lockbox for keys. Then you can avoid the agents that claim to have a buyer and want to preview your home. This will helps save time when agents schedule showings off of the MLS. Then all you have to do is call them up and ask for feedback. -- I think that's all I have for now :)
April 14
(0)

LOOKING TO MAKE MORE MONEY IN 2014 AND BEYOND?

Answer
I would recommend posting this on craigslist, careerbuilder, monster.com, etc
March 20
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I would like to list our hobby farm for sale by owner; how do I do that?

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You can list for free on zillow, but if you would like more exposure I would recommend doing a search for Flat Fee MLS. That will get your property in front of more buyers. When I've previewed FSBO homes I often found the only people contacting them were agents, so I'm not sure how quickly a home will move if you ONLY list it on zillow. The MLS will at least give a wide net and I think it will automatically be syndicated to 100s of sites for you.
March 10
(1)

Hubzu listing with FHA Financing....Is it possiable?

Answer
What did your agent say?
March 10
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How do I find foreclosed houses in the country not in town?

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Kathrine,Every website now lists foreclosed homes. You can use zillow, Realtor.com. Any agent or real estate company, etc. ALL sites should have foreclosed homes on them now.
March 10
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We have a listing on Zillow. How do we get an MLS listing and still sell by owner?

Answer
Many consumers are very capable at selling their own homes. In fact, I did that before I became an agent and still find consumers that know what they're doing. Selling a home isn't difficult. It's the other items that come with it that can be the challenge and that changes from transaction to transaction. The Listing Agent's job is to get that home in front of as many eyes as possible and get as many bodies through the door as they can. This should be done with a professional photographer and tools used to syndicate a listing with accurate data. That's just the basics and there's a lot more that can also be done. The Buyer's Agent's job is to assist the buyer in deciding which home to go with. Which one is possibly the better deal that fits the buyer's needs. 
March 05
(1)

Looking for a lender willing to lend to rental property investor with mortgage owned by LLC

Answer
Waterstone Mortgage out of Maple Grove might be of help.
February 19
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What can I do to get more (or better) quotes for my loan request ZR-MFBCRJQ?

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I think you're better off talking with an actual lender. What you're currently getting is something based on an algorithm.
January 27
(1)

Where do I find buyer default information in my disclosure documents?

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Depending on what box is cheked on the purchase agreement you might risk losing your earnest money
November 18 2013
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Looking for a lender who works with under 640 credit score

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Mike Ouverson - I would provide a link, but zillow usually blocks it
November 18 2013
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