Home Sales- 2004/2005 - 43% of Buyers came from open houses
- 2007 - 3% of Buyers came from open houses, 80% of Buyers came from the internet and other Realtors
Prelist Home Inspection
Evaluates and identifies potential and actual problems, gives the seller time to repair or disclose to a buyer upfront to eliminate unpleasant surprises
5 areas mostly concerned with:
- Structural
- Roofing
- Plumbing
- HVAC systems
- Electrical
Creative Marketing with Mortgage Options
- Ameridream – Seller pays Buyers’ closing costs and downpayment *rule of thumb – 5.5% - 6.0% of sales price
- Seller Paid Buydown – 1 or 2 years of interest rate buydown
- Seller pays up to 6 months on Buyers’ mortgage payments (P & I)
- Combination of any
Appraisals and Value
Market values are changing constantly. Appraisers are having a more difficult time with appraising properties. Generally speaking, there are 10% more homes on the market now than this time last year. The number of sold homes is down by approximately 8-36% from last year this time. In addition, the dollar amount (home pricing) is down by 33%, which indicates pricing has gone down. The average days on market are 6-12 months. This is twice as long as last year.
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