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Sellers should think like an appraiser!

Fri, Mar 02, 2012 at 11:50AM


Sellers should think like an appraiser! 

Let's use Weston Florida homes for sale as an example....selling Real Estate in Weston Florida can be a pleasant experience or it can become stressful especially if you're not educated with what's going on in the Real Estate market. And I don't mean going on the internet and reading what the media puts out.  My advice is to call your local Realtor and ask for a current comparable  market analysis over the last 6 months.  This report will tell the sellers what the range of value in their area.  By getting this current source of information... you'll most certainly  reach you goal quicker of successfully selling your home.

As of this morning...there are about 270 homes available for sale in Weston Florida.  Without going into an into too many details I'm guessing that some of them will either never sell or end up being re-positioned in the market with- in a true range of value or the original suggested listing price. Some homeowners are becoming more realistic or more motivated to sell....and then there are some that are not and that's their perogative. They'll eventually have to realize that pricing them correctly will save them time and money in the long run. Some owners just wait too long before they realize that now the value is even lower than it was originally and that can become a real mess of desperation.  Many of these properties are also are available to rent as well. It's basically which ever comes first. The rest of these homes just sit for very long periods with homeowners hoping someone will come see the property and make them an offer.

Think of it like being on the line at the supermarket. ....Which line do you want to be on? Do you want to be on the longest line or the shortest line?

As your Realtor®.... it's my job to help the homeowner by giving them the most realistic pricing goals.... but if they "still don't get it"...they probably are going to waste a lot of time.

I've been listing properties for sale for over 18 yrs and I'm not perfect but I've spoken to many appraisers to get their views and to listen.

The bottom line is that the seller can ask whatever they want but if it doesn't appraise for the value of the purchase price...the price will have to be renegotiated or the contract canceled if both parties can't agree on the appraised value. The days of the buyer bringing extra cash over the spread is over. 

Most appraisers will look at 2-3 closed sales within 6 months but in this type of market. They also might look at 1 pending sale and the available inventory just to review the history on how many times they have reduced the price. They are also looking at how many homes are short sales and foreclosures. These properties are your competition and this can really effect the value of a traditional seller. There are many challenges for them to deal with and they need to work harder in order to properly make the right analysis in this ever-changing market.

Lender Guidelines are still getting tougher for buyers to qualify for some loans. I'm seeing more and more cash deals these days but most buyers do not have ability to pay cash and will need to find the best deal out there for financing.

 

Sellers need to answer this question....do you want to own it or do you want to sell it?

If you would like any help preparing your home to sell or any other real estate related matter ...please call us..

For the superior service you deserve!


 

For more information ....Please contact Neal Bloom-Realtor® /Keller Williams Properties

 

 Weston Realtor(R) Neal Bloom-copyright 2007

1625 N. Commerce Parkway,Suite 105

Weston FL 33326

(954)608-5556

Neal Bloom tells it Like it is in Real Estate-copyright © 2012-All rights reserved

 

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