When is the Best Time to Sell a Home

Often when GreatWest GMAC Real Estate professionals are asked, when is the best time of year to sell a home, a seller's largest asset. The consumer may be thinking the answer an easy one - spring of course.

However, there are a few thoughts, which support another theory.It is true that many buyers begin looking in spring for a suitable home for their moves - especially when there are school-age children involved. But, one thing to remember, in springtime, EVERY seller thinks that spring is the time to sell. This generally brings MORE sellers to the marketplace, which means MORE COMPETITION.

When there are more sellers on the market, the pricing of your home becomes a critical issue. It is paramount to tighten price to remain competitive within the marketplace. Therefore an advantage can occur during the quieter winter months when less seller competition is in place.

One GreatWest GMAC Real Estate professional reminisced - she actually purchased her own home on Christmas Eve, and counted it as a wonderful holiday present for her family! Real estate buying and selling is very much a year round activity!

Written for GreatWest GMAC
by: Myrl Jeffcoat

Website Identifies Neighborhood Felons

GreatWest GMAC Real Estate Professionals are often queried by buyers as to crime in the neighborhoods they hope to buy homes in.

In addition to the Megan's List website, there is also another important web resource. It's http://www.felonspy.com/ - Just enter an address and up pops a neighborhood map flagged with names, age of the felons and the crimes committed.

Nearly all areas of the country are impacted to some degree. However for those homeowners interested in having this type of knowledge, this website could have importance to them.

Take a minute to check out a neighborhood, and then pass on the link to people that may have an interest.

Written for GreatWest GMAC
by: Myrl Jeffcoat

Six Reasons Your Listing Won't Sell

GreatWest Real Estate professionals are experienced in advising home sellers on the importance of key issues, which will keep their homes from selling. They begin as follows:

1. You don’t have quality photos of your home. Most homebuyers begin their home search via the Internet. What they see visually in those first on-line encounters with your home can make the difference between whether they continue to explore your home further, or click away to the next available property with criteria they are searching. Quality photos make a significant difference in a homebuyer’s initial decision-making. It helps them decide whether their next action will be making an appointment to actually see your home in person.

2. Does your home show well? Sometimes this can mean the more subtle things – The smell of the house (especially if you have pets). It can be the annoyance of a dog that barks. Are the walls in need of fresh paint, and does the carpet really need replacing.

3. Have you overpriced the home? It is vitally important that you view your property with objectivity. Divorce yourself from your own feelings about your home, and view it through the eyes of a “buyer.” Pay attention to the Comparative Market Analysis prepared for you by a knowledgeable real estate agent. Make certain that it INCLUDES short sales and foreclosures. How does it compare in condition and updating to other properties being marketed or recently sold. These factors can make significant difference in valuation for market purposes.

4. Has your listing worn out it’s welcome on the market? It is a fact, that once homes have been on the market for awhile, they lose their initial fresh marketing impact. If you have overpriced your home, or allowed it to remain on the market without showing well, or the other important marketing energy discussed in the previous items, this can happen. There are several ways you can remedy this - (a) You can remove it from the market and give it a rest until spring. (b) You can initiate a price reduction. (c) You can make some needed improvements like paint, new carpet, or other cosmetic touches. (d) Home staging is another useful tool.

5. Transparency is more prevalent in today’s real estate world. In the past, Buyers traditionally contacted an agent for their “first” viewings of “for sale” homes. However, in today’s world, the Internet is primarily the “first” showing of properties, with the “actual” second showing occurring when the Buyer has previewed your home via websites like Craig’s List, Zillow, Trulia, and Google Base, etc.

6. It ain’t what you hoped for. You are fortunate enough to be in an area where homes often receive multiple offers. And you have accepted an offer on your home that is above list price. HOWEVER, the appraisal arrives $30,000 less that what has been agreed upon by you and the Buyer. You can sometimes successfully negotiate with them - but make it work, even if you need to drop the price. After all you will likely have the same problem with subsequent Buyers.

If you have questions, or wish to explore the quality marketing advantages of GreatWest Real Estate, please contact us. We look forward to hearing from you!

Written for GreatWest GMAC
by: Myrl Jeffcoat

Choosing a Great Real Estate Maestro is Key

A GreatWest GMAC Real Estate professional recently recalled an early childhood memory. This memory took her back to a time when her mother took her to a delightful stage show.

While the production was going on, she saw dancers on stage. In an area slightly below, and in front of the stage, there was the conductor who waved his magical wand in the air, while delightful music seemingly flowed from it. She was certain the maestro was a sorcerer with the ability to conjure magical sounds - and because he was standing in the direction of the stage and commanding the rhythmic wand, it also seemed he was invoking the very steps of the dancers.

The mother tried to convince her that things were not as perceived - there was an orchestra "in the pit." Imagine what images pranced in her tiny head when mother spoke those words. She knew what a pit was, but had no idea what an orchestra may be. So, about half way through the composition, she bolted from her seat next to the aisle, and ran up to the front railing of the orchestra where the Maestro stood.

Quickly she could see there were all sorts of interesting instruments - cellos, violins, flutes, horns, drums, and a piano. There sat several dozen beings all dressed in black - manipulating bows, strings, sticks, and keyboards, to truly make music happen - at least until the curtain drew to a close.

As real estate professionals look back today, we often realize that running real estate transactions must sometimes seem like viewing a show through the eyes of a small child. What may appear to be a maestro, invoking dance, and leading the orchestra with a single wand, is only an illusion, to all the activity going on by others not readily seen to the view.

Carefully conducting the symphony, known as a real estate transaction, takes all sorts of individuals flawlessly playing their part, in order for the composition to be a well-orchestrated success. Wisely choosing a great real estate agent to perform, as conductor of any real estate sale and transaction is important.

Generally, it is the agent, which will have the most visibility and contact not only with clients, but a multitude of other unseen individuals (lenders, inspectors, escrow and title people, etc.), which are working more or less behind the scenes. How well, an agent helps coordinate other activity will depend on how well your real estate transaction flows. Understanding the importance of wisely choosing a great real estate Maestro is key!


Written for GreatWest GMAC
by: Myrl Jeffcoat

Improved Housing Numbers

Encouraging news for housing was provided in an article on MSNBC recently. The news reported construction starts on new homes have apparently been buoyed by the special tax break incentive provided to first-time home-buyers.The construction of new homes climbed in June to the highest point in seven months as builders scrambled to break ground for homes which must be completed by the last of November for first-time buyers to take advantage of the special tax break.

The housing start numbers in June, represent a 14+% increase in single-family home construction. This represents the largest monthly increase since December 2004. The construction of multi-family units, a chaotic segment of the market, fell nearly 26% from a month earlier.For a complete report as presented by MSNBC, you can Click Here.

Getting a Lower Property Tax Assessment on Your Home

Recently, GreatWest GMAC Real Estate Professionals have heard from folks interested in possibly obtaining lower property tax assessments on their homes. Generally, these folks are individuals who purchased homes in the last few years, at the height of the market, and now find their homes valued less than they paid for them.Here is the link to the County of Sacramento Assessor's Office. If you think you may qualify for a reduced assessment, you will be able to easily find the necessary information to more easily procure reassessment.

Be forewarned that like loan modification scams, there are entities out there that will gladly have you fork over money to them by claiming they will do this for you.It is strongly suggested that you simply go to the Sacramento County Assessor's Office website which is easy to use, and risk free, and begin this process on your own.If your home is located in another California county, we suggest contacting the Assessor's office for your area to pursue this. Many counties are participating.Good luck to you!

Written for GreatWest GMAC
by: Myrl Jeffcoat