- The value of your home relates to local sale prices,

        - Local supply and demand,

        - Owner needs Sale prices are not the whole deal 
 
For your evaluation, gather information from several sources and compare the findings rather than rely on just one approach to home valuation. Here some suggestions to start:
       - Abandon your personal point of view,
       - Call SMITH, REALTORS® who will be willing to prepare a comparable market analysis (CMA) for you,
       - Purchase teh services of a professional appraisal. A professional appraisal is rarely free.      However, it could be money well spent if you're making a major financial decision.
       - Do your own market research: go to neighborhood open houses. Open houses are a good opportunity to view comparable homes for sale. Do research online. Consider market conditions.
Calculate the price per square foot.

The basics of marketing your home will include advertising, showing the property.
         - Advertising: Your home should be listed, whenever possible, in the local Multiple Listing Service. Also in the classified section of the local newspapers, through popular Internet home search/listing services, radio and television promotions, and real estate guides. "For Sale" signs on the front lawn along with brochure boxes are still remarkably effective.
        - Showing: dress (stage) your home for success (outdoor, kitchen, garage, closets etc.) and dress your home in preparation for show inside and outside.

There is no question that selling a home is an important event. There will a number of questions involved:
        - What's an acceptable offer? The goal of every seller is to have a line of buyers outside the front door, each clutching higher and higher offers. A number of factors determine whether a buyer's offer is acceptable. They include:
             - Is the offer at or near the asking price?
             - Has the buyer buried thousands of dollars in discounts and seller costs within tiny clauses and contract additions? 
        - What is the alternative to the buyer's offer? 
        - Do you have enough time to wait for other offers? 
        - What if no other offers are received? 
        - What if several offers are received?
        - What is a counter-offer? When a home is made available for sale the owner is essentially making an offer to buyers: For a given number of dollars and other terms you can acquire this home. Buyers, in turn, can respond with several options. A counter-offer is nothing more than a new offer. And just as the buyer had three options in response to the owner's original price and terms, the seller can now choose one of three reactions: accept the offer, decline the offer or make a fresh counter-offer.
       - How do you negotiate? Real estate bargaining typically involves compromises by both sides. Negotiating should be seen as a natural business process; buyers should be treated with respect; and owners should never lose sight of either their best interests or their baseline transaction requirements.
      - What is the Bottom Line on Contract Negotiations? Price isn't the onl#y bottom line. Here are others considerations:
     - What are the estimated transaction costs and who will pay for what?
     - How much money is the buyer putting into escrow and how soon?
     - Is there a mortgage financing contingency and how specific is it?    
     - What furniture, fixtures and appliances, if any, are being sold with the property? 
     - What will happen if either side breaches the contract?

STEP IV - CLOSING

A sale agreement sets not only a purchase price for the home, but also a series of terms and conditions. When should you close? With automation now available, closings can occur within a week in some areas -- at least in theory. In practice, it takes time to arrange financing, conduct inspections, obtain appraisals, locate replacement housing, contact movers, pack and actually move. Most homes close 30 to 45 days after a sale agreement has been signed.

There are five general areas where SMITH REALTORS® can be very useful in the home-selling process:
          - Our real estate agents can give you up-to-date information on what is happening in the market place and the price, financing, terms and condition of competing properties,
          - Our real estate agents act as the marketing coordinator,
         - Our real estate agents provide a security: When a property is marketed with an agent's help, you do not have to allow strangers into your home. Agents will generally pre-screen and accompany qualified prospects through your property.
          - In negotiating our agents can help you objectively evaluate every buyer's proposal without compromising your marketing position.
          - In monitoring, renegotiating and closing: the required paperwork alone is overwhelming for most sellers. Our agents are the best persons to objectively help you resolve these issues and move the transaction to closing (or settlement).

FOR DISTRESSED OWNERS:

Short Sale or even Foreclosure might be a good assets management tool to come back on track in a near future. Working as a partner with your Lender you may ba able to rebuilt enough equity to realize your dream again. And stay in your home.

CONTACT US before it is too late!