Working together!

(by Noemi Cardoso)

Every day when I speak with my existing or new clients I hear pretty much the same questions from buyers and sellers:

Buyers: How can I buy the most for less...
Sellers: How can I get the most for my home...

As you can see everybody is looking for a good deal one way or another.
For Buyers the high number of foreclosures can be a good deal but it requires patient and research since foreclosures and short sales are pretty much 'sold as is' condition and there are not much information or disclosures on the house. A good home inspection is advised but remember that many of those homes are winterized (not utilities). Buyers have sometimes the option to reconnect the utilities prior to the Inspection but he (Buyer) will be responsible for the cost of reconnection and winterizing the property again.

Many homes, due to the conditions will require a Rehab loan and at this time to have a good mortgage broker working with you is your best bet.

When it comes to a short sale patient is even more required....some offers can take up to 180 days to have an answer from the banks or mortgage companies....for example: I have an offer on the table for 107 days (as of today) waiting for an answer.

Don't discard the option of looking into regular sales since many owners are dropping prices to sell and you can also find good buys there with less problems.

Last but not least... some properties will be sold above asking price and a bidding situation may arise if the home in question is a good buy.

Now for mine and other sellers out there. These same foreclosures and the immense inventory are driving the prices down and even though homes are still selling they have to be priced right. A reliable Real Estate Agent and an accurate Market Analysis can be a great help. Also pay attention on what the market within your immediate neighborhood (no more than one mile). Remember compare apples with apples.

Another great and reliable option is to have a professional appraiser to assess the value of your home. Many homes are selling right around or below assessed value.

Also consider making your home charming and inviting...remember the first impression can make or break a deal....remove clutter (a storage might be good idea), a good cleaning specially on bathrooms and kitchens, a professional carpet wash and always clean, nice and clean landscaping, fresh air can make wonders and make sure all your utilities are in perfect condition. If you can afford there are professional out there that can come and show you how to stage your home for a great first impression...

Work with your agent. Remember that his/her interest it is also to sell your property...there are no commission checks until your have the check...

If you have any topic or question that you would like to discuss please fell free to add.