Believe it or Not.. there are now 2 buyers for every property.. not because of multiple offers.. read on..

Lori Lincoln — Fri, 19 Jun 2009 00:30:00 GMT

Believe it or not there are 2 buyers for every property in today's Market- Taunton Area Massachusetts (edit/delete)

I heard this statement today " There are 2 buyers now for every property" and now I know how to communicate this news to the sellers, buyers and agents that may not be aware:

Did you know that there are now 2 buyers for every house on the market? Yes, the buyer and the bank. We can prevent what we can predict. And yes homes get sold if we prepare all parties with the following information:

1. Title 5- Did you know that now the title 5's are scrutized by the underwriters at the bank? Did you know that if the system passes, and it is older, some banks won't accept an out of date plan.. the Title 5 inspector's new design is sometimes acceptable, sometimes though requires an engineer?

2. Appraisals- Even if an appraisal comes in at sales prices, the appraisals are reviewed, reviewed, reviewed by the bank and sometimes even 2nd and 3rd appraisals. Deals are being thrown on appraisals. Sellers sometimes think the buyer would be willing to pay the difference. I know I wouldn't buy a house that was over-valued, and most people wouldnt' The "unique buyers" are virtually non-existent.

3. FHA guidelines- always have been strict- but a great review- FHA and other government loan programs have strict safety guidelines, mandatory pest inspection/treatments, mandatory handrails, asbestos removal mandates, and more.

With all of the strict lending guidelines, we as a real estate community are still out selling homes. Transactions are occuring successfully if you prepare ahead. Most homes are sold within 95% of asking price.

Over-priced homes listed have a slim chance of being viewed by buyers.Buyers' agents educate their buyers. Buyers are looking for value to supercede price, and they really want to buy, not negotiate. This is why 20% of the homes on the market WILL sell. 80% won't.

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Lori Lincoln is a Realtor with Keller Williams Realty serving Bristol County Massachusetts including Taunton, Rehoboth, Dighton, Seekonk, Assonet, Freetown, Lakeville and surrounding cities and towns. Lori Lincoln consult and educates her clients, helping them achieve their home buying and selling goals.

You Can Reach Lori at 508-878-0917 or emal lorilincoln@kw.com

http://LincolnTeamRealEstate.com

Keller Williams Realty

Home Sellers, don't let this be you!

Lori Lincoln — Tue, 08 Jul 2008 10:45:00 GMT

Sellers- YOU MUST READ THIS IF YOU WANT TO SELL YOUR HOME FAST! (edit/delete)

About 2 months ago, I listed an expired listing which was on the market for awhile and listed for a much higher price which the market also rejected. I listed the home below the previous price, but still too high. So yes, you guessed it.

We had 2 showings in 2 months. Lots of open houses, marketing to buyer agents, 30+ websites and frustrated sellers ( and agent). Every week during this time, I informed my sellers weekly of sold homes and homes that were under agreement.

After exhausting all of my efforts, I approached the sellers with some real concrete market data and statistics, most of which was shared in our first meeting at the time of the listings, but the sellers needed to "try the high price. Sometimes market value news is tough to hear, tough for me to communicate to my sellers as well. Finally they reduced the price.

After one week, at the reduced price, we had 5 buyers preview and consider purchasing the property. All 5 buyers through their agents submitted an offer! I have to admit, I was absolutely shocked!. We now have one accepted offer and one back up offer.

The sellers of this home are very smart for reducing their price. Now they can move on with their lives, buy a home that suits them for a great price..

The buyers also won. They will likely gain equity if they stay in the home for 7 years or more.

I am so grateful to my company for providing the knowledge to help my sellers get what they needed.

I also have even more insight on how important it is urge my sellers to price just slightly below market value.

So many times, I see sellers make the mistake of pricing to high when they first list the home. Then they every other months they keep reducing the price down just a bit, but still over market value...chasing the market down. Eventually they sell for a really low price because they cannot keep up the pace of the declining market with the small price reductions.

My advice to sellers.. PLEASE..refrain "Neverland/Fantasy" pricing. If you want your high price, you might want to consider selling it in a different market.

If you owe more than what the home is worth, this a completely different blog. Speak to an educated experienced agent regarding this matter.

I digress.. All of the marketing in the world will not convince buyers to buy your home if your home is out of the range of true market value.

Just to illustrate. I like to shop at Macey's, say I find a dress, my size, my color etc.. I see the dress at Macey's for $150. then I see the same dress at Penny's for $95.00. All things being equal, which one do I buy? This is how buyers are thinking today. They're greatest fear is paying too much and right now, with all of the inventory, real estate, in my opinion, is about price.

You may say " but I have a unique home". Sad to say, but in the current market, there aren't unique homes, that buyers will pay over market value for.

Lori Lincoln, Realtor/Partner with Keller Williams Realty. If you would like more information on selling your home. Lori lis a Real Estate Expert in Bristol County Massachusetts. If you would like a free market valuation of your home without cost or obligation, call Lori Lincoln who knows the facts, the neighborhoods and will help you achieve your goals and sell your home.

Lori Lincoln and her team sell homes in Taunton Massachusetts, Berkley, Assonet, Rehoboth, Somerset, Freetown, Bristol County MA and surrounding cities and towns.
For a Free MLS Search for the entire state of Massachusetts go to Massachusetts Real Estate

Thank you for viewing my blog.

Lori Lincoln

http://www.Lincolnteamrealestate.com

Bristol County Massachusetts Real Estate Blog-Lincoln Team : Rehoboth real estate Taunton homes MLS sell sale

Believe it or Not.. there are now 2 buyers for every property.. not because of multiple offers.. read on..

Believe it or not there are 2 buyers for every property in today's Market- Taunton Area Massachusetts (edit/delete)

Home Sellers, don't let this be you!

Sellers- YOU MUST READ THIS IF YOU WANT TO SELL YOUR HOME FAST! (edit/delete)