Archives for: August 2011

08/05/11

Permalink 03:23:38 pm, Categories: News, Real Estate, 385 words   English (US)

Price Your Home Right When Selling!

Trulia offers this information regarding the 7 Deadly Sins of Overpricing

Most experts would advise that the best way to increase your odds of a successful sale is to price your home at fair market
value. But, as logical as this advice sounds, for many sellers it is still tempting to tack a few percentage points onto the price to
"leave room to negotiate". To avoid this temptation, let's take a look at the seven deadly sins of overpricing:

1. Appraisal Problems
Even if you do find a buyer willing to pay an inflated price, the fact is over 90% of buyers use some kind of financing to pay for their
home purchase. If your home won't appraise for the purchase price the sale will likely fail.

2. No Showings
Today's sophisticated home buyers are well educated about the real estate market. If your home is overpriced they won't bother looking at it, let alone make you an offer.

3. Branding Problems
When a new listing hits the market, every agent quickly checks the property out to see if it's a good fit for their clients. If your home is branded as "overpriced", reigniting interest may take drastic measures.

4. Selling the Competition
Overpricing helps your competition. How? You make their lower prices seem like bargains. Nothing is worse than watching your neighbors put up a sold sign.

5. Stagnation
The longer your home sits on the market, the more likely it is to become stigmatized or stale. Have you ever seen a property that seems to be perpetually for sale? Do you ever wonder - What's wrong with that house?

6. Tougher Negotiations
Buyers who do view your home may negotiate harder because the home has been on the market for a longer period of time and because it is overpriced compared to the competition.

7. Lost Opportunities
You will lose a percentage of buyers who are outside of your price point. These are buyers who are looking in the price range that the home will eventually sell for but don't see the home because the price is above their pre-set budget.

Most buyers look at 10-15 homes before making a buying decision. Because of this, setting a competitive price relative to the competition is an essential component to a successful marketing strategy.

Author: Ginger Wilcox, Head of Industry Training at Trulia

08/01/11

Permalink 02:35:35 pm, Categories: News, Real Estate, 110 words   English (US)

FHA Loan Limits to Decrease October 1

Beginning October 1 of this year, loan limits for many conforming and FHA loans are due to decrease, falling back to their 2009 levels. Here is a good explanation of why this is happening, and below you can see the new limits for some affected Colorado counties. There is still legislative talk of extending these limits for another year, but a final decision likely will not come until late September.

County

New FHA Limit

Previous FHA Limit

New Freddie / Fannie Limit

Previous Freddie / Fannie Limit

Adams

$368,000

$406,250

$417,000

no change

Arapahoe

$368,000

$406,250

$417,000

no change

Boulder

$402,500

$460,000

$417,000

$460,000

Broomfield

$368,000

$406,250

$417,000

no change

Denver

$368,000

$406,250

$417,000

no change

Douglas

$368,000

$406,250

$417,000

no change

El Paso

$271,050

$325,000

$417,000

no change

Jefferson

$368,000

$406,250

$417,000

no change

Larimer

$271,050

$312,500

$417,000

no change

Weld

$271,000

$417,500

$417,000

$417,500

Passionately Urban

Welcome to my journey. My name is Kirstan Borne (formerly Kirstan Marks) and I'm an active community member, a Denver Realtor, and business owner who moved from the suburbs to the city of Denver, nearly 10 years ago. It's a change of pace, a change of lifestyle, and a definite move for the better! I have great knowledge and experience in residential, commercial and investment real estate since 2001. Currently, I specialize in commercial real estate sales and leasing with my firm Location Innovators, Llc.

Kirstan Denver Realtor

To connect with me, email me at kmarks@TopDenverAgent.com. To search for a new home in the Denver metro area, please visit here .

Disclaimer: Regarding information throughout this blog that may appear to be advice - be sure to consult with your own qualified CPA and/or attorney concerning any legal matter.

Connect with me on Facebook Kirstan Marks, Kirstan Marks, Realtor (Location Innovators Llc): Commercial Real Estate Agent in Denver, CO

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