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How is Value Determined

Your home has many values; one to the tax assessor, others to your lender and insurance company and yet another value to you, the owner. It also has different values to buyers, depending on their needs desires and financial resources.

The highest realistic price for your home will ultimately be determined by the market. It is highly unlikely that a buyer will pay more for your property than would have to be paid for a similar property with like amenities and features.

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21 Step Marketing Plan

The following pages will provide additional detail to some significant components of our comprehensive marketing plan to help get your home sold as quickly as possible and for the best price. Immediately below is an overview of our complete Marketing Plan.

1. Recommend a pre-listing inspection and hiring a professional home staging service
2. Develop a Comparative Market Analysis (CMA)
3. Create a photo slideshow or virtual tour to post on listing websites
4. Enter your listing into the local Multiple Listing Service
5. Place the CENTURY 21® “For Sale” yard sign
6. Announce your listing to sales associates in my office and other CENTURY 21 Offices in the area

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The Perfect Loan File – FORBES

The Perfect Loan File

The media has it all wrong – securing mortgage approval and satisfying credit underwriting guidelines are not the difficulties plaguing mortgage consumers. It’s in meeting the rigorous documentation requirements that most people fall flat. The good news is, the fix is simple. Just scan, photocopy, fax, and deliver every aspect of your financial life. Then, shortly before closing, check everything again.

Mortgage consumers who enter the mortgage approval process ready to battle their chosen mortgage lender will come out with a nightmare story to tell. As the process, requirements, and guidelines are the same for everybody, your mindset is the game-changer. Accepting the redundant documentation necessary for lender approval will make everyone’s life easier.

When I was a kid, my father occasionally issued directives that I naturally thought were superfluous, and when asked why I needed to do whatever it was he wanted me to do, his answer was often: “Because I said so.” This never seemed to address my query but always left me without a retort, and I would usually comply. This is exactly what consumers should do during the mortgage approval process. When your lender requests what seems to be over documentation and you wonder why you need it, accept the simple edict – “because I said so.” You will find the mortgage approval process much less frustrating.

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48 Ways to Speed a House Sale

Evaluate

1. Have a Realtor®, interior decorator or professional organizer walk through your home to evaluate what needs to be updated, repaired or removed

Repair

2. Patch damaged walls
3. Replace cracked floor tiles
4. Oil squeaky doors
5. Fix sticky windows
6. Fix leaky faucets and toilets
7. Re-caulk tubs and sinks
8. Replace broken windows and screens

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Flip It to Win It HGTV fan? This is for you…

As a long-time resident and local Realtor, I was enormously excited to see HGTV base their latest house flipping show “Flip It to Win It” in Silicon Valley. While the rest of the country knows this area as the home of tech giants and office parks, this is the first time that any flipping show showcased the Bay Area outside of San Francisco. I very much welcomed this increase in our visibility as one of the best places to live in the world. After watching a couple of episodes, however, I was quickly disappointed and realized that

After watching a couple of episodes, however, I was quickly disappointed and realized that like all reality shows, “Flip It to Win It” is very heavy on the “show” element and light on “reality”.

The show features six 2-person teams, including a couple of well-known flippers in the Bay Area. Each episode typically shows three flip projects scattered around the South Bay. The show tells you the street name and the city of these projects, usually in very desirable locations for the average homeowner. Since I flip houses with my clients, I was naturally very curious about checking out these projects.

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HGTV fan? This is for you!

Whenever I mention the popular HGTV series House Hunters, I get e-mails from readers asking, “Do you know the truth about that show?” I just got another one from someone saying, “I’m surprised more people don’t know how House Hunters really works. I was so mad when I found out!”

It’s actually not a secret–the show even explained it in a newspaper article a few years ago, but it doesn’t seem to be common knowledge. Here’s what it said:

For quicker turn-around, producers sometimes choose buyers who are already in escrow with one of the three locations shown. The other two choices that are filmed, are only shown to allow viewers the option of making the choice themselves.

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Zillow.com
Not everything you read find in the web is true

The Zestimate® home value is Zillow’s estimated market value for an individual home and is calculated for about 100 million homes nationwide. It is a starting point in determining a home’s value and is not an official appraisal. The Zestimate is automatically computed three times per week based on millions of public and user-submitted data points.

The Zestimate® home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is calculated from public and user submitted data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account.

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Zestimates
LA Times Article

Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices – LA TIMES

When “CBS This Morning” co-host Norah O’Donnell asked the chief executive of Zillow recently about the accuracy of the website’s automated property value estimates — known as Zestimates — she touched on one of the most sensitive perception gaps in American real estate.

Zillow is the most popular online real estate information site, with 73 million unique visitors in December. Along with active listings of properties for sale, it also provides information on houses that are not on the market. You can enter the address or general location in a database of millions of homes and probably pull up key information — square footage, lot size, number of bedrooms and baths, photos, taxes — plus a Zestimate.

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Common Real Estate Terms

Appraisal – The process of estimating or setting the market value of a piece of property, partially based on an analysis of comparable sales of similar homes in the area. An appraisal usually takes the form of a written report. Appraisals are usually required during the mortgage loan approval process.

Closing Costs – For buyers, closing costs consist of expenses that must be paid in addition to the purchase price of the home, like… For sellers, closing costs include expenses that will be deducted from the proceeds of the sale, like…

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