Four Steps to Help You Sell Your House Faster

Selling your house can be a long, stressful process! It can drag on for many months with out any potential buyers, But it doesn't have to be! Here are four simple steps to make selling your house easier, and faster!

Step One

Now that you have decided to put your house on the market, you want your house to STAND OUT from all the other house in your area and even the MLS listing. It's a known fact that curb appeal, kitchens, and bathrooms are what sells a house. So take that extra time and money to really focus on these three factors. But be careful you don't go to extreme, because you do want to make a profit, and you don't want to be to expensive for your area. Know what other house in your neighborhood, that are similar to yours, are priced at.

Step Two

You want to simulate peoples CURIOUSITY about your property. As soon as a prospective buyer reads about your listing, you want them to want and need to respond to your Realtor by calling or just by driving by. You want that prospective buyer to be so excited to see your property that they just can't wait to get in to see it. Your verbiage in the newspaper ad and/or in the MLS listing is a key role in setting the mood for your house. If the verbiage is not just right, that can discourage certain potential home buyers.

Step Three

TRAFFIC is another huge key in selling your house. With out it, it's almost impossible to sell. Even if a potential buyer comes into your house and it's not right for them, they might have a friend who it might be perfect for. Get creative and figure out how you can create a continuous flow of qualified buyer to your front door.

Step Four

In this last step, you want to keep potential buyers FOCUSED on your home. Help them visualize their family living in this home. To the point where they can't even think about any other properties. Show them why your property is the best fit for their family and what makes your property stand above and beyond any other property they have seen.

Following these four simple steps, standing out, curiosity, traffic and focused on your home, will help you sell your house just that much faster. If you want an amazing e-book on how to sell you home with in 21 days or less, click on the link below!

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Owner Financing Real Estate - How to Improve Value by Selecting the Best Interest Rate

The interest rate a seller agrees to accept when providing owner financing to the buyer has a large impact on the investment value. Unfortunately, many sellers overlook this important decision. Here's why the percentage charged on a seller carry back is such a big deal.

Inflation Fighter

Each year it seems the cost to buy the basics just keeps going up. It's not your imagination; it's inflation. In fact in July 2008 that inflation rate was 5.6 percent higher than in July 2007 (based on the Consumer Price Index reported by the U.S. Department of Labor on August 14, 2008). Worse yet, some basic items like energy increased 29.3% over that same time frame.

So what does inflation have to do with seller financed real estate? Well a seller would need to charge an amount at least equivalent to the inflation rate just to break even!

Return on Investment

Rather than just breaking even, a seller desires a return on their investment. By accepting an IOU or payments from the buyer that money is tied up. Plus, once the property is sold the new owner will be the one to directly benefit from any increase in property value.

The seller is now acting as the bank and should expect a return at least equal to what a bank is demanding for a similar loan. The seller does not have the protection of private mortgage insurance that many banks require adding another level of risk that should be rewarded by an increased rate.

Since the buyer is saving the costs a traditional bank might charge for a loan (points, underwriting fees, origination fees, etc.) it is reasonable to expect them to pay above what a bank would charge. On average, it is recommended that a seller financed transaction be set at 2 to 4 percentage points higher than bank rates to compensate for these matters.

Improves Resale Value

If a seller ever desires to sell their future note payments for a lump sum of cash, they will quickly realize how important the terms are to investors. While they look to a variety of factors to determine pricing, all things being equal, a higher interest rate results in a higher purchase price from an investor.

For example, a seller holds a private mortgage with a balance of $100,000 with monthly payments of $1,110.21. If the mortgage rate is 6% and the investor wants a 9% yield then the offer would be $87,641. Now if the rate was 4% the offer would decrease to $81,623. On the flip side the offer would increase by thousands of dollars to $95,274 if the face rate was 8%.

For simplicity of comparison, these examples assume the monthly payment amount remains the same and there are acceptable credit, equity, and documentation. But you get the idea, the higher the interest rate the more valuable the note.

No Take-Backs

The time to give serious consideration to the interest rate is at the time of creation. There are no take-backs or do-overs. The percentage you agree to accept at closing stays the same for the life of the note.

The only way to change it later is to get the buyer to agree and execute a formal modification. It's highly unlikely a buyer or payer is going to agree to have their interest rate increased at a later date (unless there is some advantage to them).

Be sure to give the amount of interest charged on a seller financed note serious thought. It will affect the value of your payments not only today, but also far into the future.

Selling Your Home in a Declining Market

The Real Estate Market has shifted and is has been declining and there are certainly more homes on the market than buyers some would argue. This would be a text book buyers market, but you have to sell your home due to a job transfer, divorce, family situation or some other personal crisis or reason. With no option but to sell your home in a declining market what can you do?

Selling a home in a declining or shifting market starts with a proper attitude and finding the right Realtor® who is optimistic, comprehends the current local market, has a fortified marketing strategy and the right sales techniques. Having the right approach to the market and taking a proactive and realistic approach will be the ones who sell their homes.

The key to successful selling in a "declining market" is pricing your home at today's market value, having your home in tip-top condition and being able to strategically market the home nationally, especially in a great market like Southwest Florida.

As the seller you need to look at your home from a buyers perspective, walking through it as if you were not attached and looking to spend asking price for the home. What little things would you want to spruce up? Look at the carpeting, paint, fixtures, mirrors and your yard. Make sure your home is de-cluttered and organized. I recommend that you go through every closet, cabinet and box in your home and garage and have a yard sale to get rid of anything you do not need or use.

Make sure that you get weekly updates from your Realtor® regarding your home, the market and other sales in your neighborhood or community. Properties need time to get the proper exposure so please be patient in the process. Finding out where your home is advertized and marketed is a great question to ask your Realtor®. Your property should be advertized on at least 8 - 10 websites to get the proper exposure needed in today's market.

A house can sell in any market condition you follow five steps.

1. Pick a great Realtor® who has a fortified marketing strategy, strong understanding of today's technology and comprehends the current market conditions.
2. Make sure you look at your home as a buyer and not the seller / owner. Look at staging your home for sale, getting rid of clutter and sprucing up your home with paint, etc.
3. Make sure your home is priced right for today's market. If the market is declining, you need to utilize the Comparative Market Analysis to determine what homes are selling at currently. You should know what features these homes have differently than your own and vice versa. What features does your home have that the others do not and what is the value of those features.
4. Make sure your home is getting optimal exposure through marketing and advertising including multiple websites and social media like Facebook and Twitter.
5. Be patient and partner with your Realtor® for weekly updates on your home, neighborhood and the market. A successful sales process starts with dynamic partnerships between the seller and Realtor®.

4 Ways of Selling Your Property

Property owners are often faced with the question of what method of selling property they should use. There are many ways to sell your property, but it is important to notice that each one has its own risks and rewards. Here are 4 options when selling your property:

Method 1: Using a Real Estate Agent
This is by far the most common way of selling a property and includes paying a licensed estate agent commission to sell your property. By no means is this a legal requirement when selling property but for those who are selling for the first time, this should be a serious option. Not only do real estate agents bring experience and knowledge to the table but they are also skilled in negotiating and closing deals - both things that can be very daunting for a first time seller.

Method 2: Sale by Private Tender/Set Sale
When you put your property up for sale by tender, you set the terms, conditions and the deadline while prospective buyers have the opportunity to put forward their competitive bids. The individual bids are not transparent and tenders are asked to seal their offer in an envelope and deposit it by a predetermined date and time. The seller then opens the tenders together and chooses the best one. This method of selling is a great way to get the maximum sale price but at the same time it reduces the possibility of achieving a result higher than expectations.

Method 3: Sell at an Auction
When using this method, sellers introduce a starting price and potential buyers bid against each other. The final price is decided by the highest bidder, which means that the sale price can be higher than expected in some cases. This is an expensive way to sell but it can be very beneficial especially for property that has the combination of being both unusual and sought after.

Method 4: Do It Yourself
This means that you, the seller, would be doing the job of a real estate agent and naturally means that you would need some knowledge of the process of selling property. You would be handling all tasks including marketing and advertising property, arranging viewings with potential buyers, negotiating prices and making legal and financial arrangements for the transfer of the property.

No two property sales are ever the same and different methods of selling are suitable for different circumstances. It is important to do research and find the right way to sell your property to ensure the maximum sale price.

Halifax Real Estate Market Outlook For 2009

Halifax Real Estate Market Outlook
The overall economy is Nova Scotia is expected to contract by 1 percent in 2009 and that is effecting the housing market in the Halifax area. It is expected to recover moderately in 2010 however with growth of about 1 percent but we are in a much better position economically than most other regions in Canada and the world. We have avoided the peaks and dips that these other areas have seen both economically and with our Real Estate Market. The Halifax Area has been influenced by an increasing number of people migrating to the city from rural areas and from other countries. This has reduced the stress on the recently tight labour market. We have seen a record number of employed people in the Halifax Regional Municipality. There is an average 209,000 people employed in Halifax and through the first 3 months there was an average of 213,000.

Record employment and low interest rates will continue demand for housing
Despite coming off record levels of employment in 2008, near record levels on employment in HRM coupled with really low interest rates will continue the demand for housing in the Halifax-Area. Economic uncertainty will offset this and the result will be lower demand for both resale and new construction in Halifax than in 2008.

Less expensive homes are more in demand
Consumers have shifted to less expensive homes as a result of the economic uncertainty. In the 3 months of 2008, 54 percent of new single-detached homes sales averages more than $300,000 in price. This percentage share has dropped to 47% in the first 3 months of 2009 even though the average sale price of a resale home has increased in the same period. This trend is expected to continue and will result in a negative impact on the average sale price of homes in the Halifax Regional Municipality.

Halifax New Home Construction
Existing home sales to decline further in HRM
There was an 11 percent drop in the number of MLS sales in 2008 compared to 2007. Most of this was in the 4th quarter of 2008 with seasonally adjusted sales being off by 26 percent which is equal to the amount sales dropped in the first quarter of 2009 compared to the first quarter of 2008. While the economy in Halifax is steady the bad news from other areas of the world and the uncertainty is causing reduced demand for homes, both new and resale. Therefore, the number of resale homes in the Halifax Regional Municipality are expected to decrease by another 11 percent for the remainder of 2009. They are expected to recover in 2010 by 7%.