Dawn Tetro
PalmerHouse Properties, LLC
2911 Piedmont Rd
At;amta, GA 30305 Phone: 404-216-0884 Mobile: 404-216-0884 Fax: 404-806-8006 Email Dawn

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PRICE YOUR HOME TO SELL!


Selling Your Home - Pricing the House to Sell - Price War and a Beauty Contest!

 

What is the difference between list and sales prices?
The list price is how much a house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions. If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property's listing period.

What are the two most important factors when selling a home?
Price and condition are the two most important factors in selling a home, especially in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home's worth. 

 Second, go through the house and repair any obvious cosmetic defects that could deter a buyer. It is not a bad idea to have the home pre-inspected and then take the next step by correcting and fixing all the needed repairs so that the buyer won't have to. In a down market, you may have to consider lowering your price and/or making a major repair, such as replacing the roof, in order to lure a buyer. Provide copies of the home inspection report to all prospective buyers along with a list of all repairs that have been taken care of.

Also, make sure that your home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage and a listing on the local multiple listing service or online listings provider. If this isn't happening, take it up with your agent or agent's broker. If you are still not satisfied you are getting the service you need, you may have to switch agents.

What is the best time to buy?
Because many buyers prefer to move in the spring or summer, the market starts to heat up as early as February. Families with children are eager to buy so they can move during summer vacation, before the new school year begins. The market slows down in late summer before picking up again briefly in the fall. November and December have traditionally been slow months, although some astute buyers look for bargains during this period. This period generally will have serious buyers.

What is the difference between market value and appraised value?
The appraised value of a house is a certified appraiser's opinion of the worth of a home at a given point in time. Lenders require appraisals as part of the loan application process; fees range from $200 to $300. Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Either an appraisal or a comparative market analysis is the most accurate way to determine what your home is worth.

What is the difference between list price, sales price and appraised value?
The list price is a seller's advertised price, a figure that usually is only a rough estimate of what the seller wants to get. Sellers can price high, low or close to what they hope to get. To judge whether the list price is a fair one, be sure to consult comparable sales prices in the area. The sales price is the amount of money you as a buyer would pay for a property. The appraisal value is a certified appraiser's estimate of the worth of a property, and is based on comparable sales, the condition of the property and numerous other factors.

How does someone sell a slow mover?
In a down market, real estate experts say that price and condition are the two most important factors in selling a home.  The phrase: " We are in a price war and a beauty contest" couldn't be more true.  If you are selling in a slow market, your first step would be to carefully price your home slightly below the competition.  Your home must be in excellent condition.  Inspect your home as though you were the buyer, and see if there are cosmetic defects that you missed and can be repaired.  In this market, you must be the "shiny penney".  There is an excess of inventory and you must be a cut above.  We will help you determine how to best position your home to beat the competition. Secondly, it is our job to make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage, and listings on the local multiple listing service (MLS) and on the Internet. Another option used to be to pull your house off the market and wait for the market to improve.   However, the latest news is predicting that improvement is not expected for several years.  Some reports have said it will be 9 to 13 years before we reach previous highs again. Our advise would be to sell now so you can get on with your life plans.

Finally, if you who have no equity in the house, and are forced to sell because of a divorce or financial considerations, you could discuss a short sale or a deed-in-lieu-of- foreclosure with your lender. A short sale is when the seller finds a buyer for a price that is below the mortgage amount and negotiates the difference with the lender. In a deed-in-lieu-of-foreclosure situation, the lender agrees to take the house back without instituting foreclosure proceedings. The latter are radical options. Your simplest, and in many cases most effective, option is to lower the price. 

How is the price set?
It's very important to price your home according to current market conditions. Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood. A so-called comparative market analysis provides the background data upon which to base your list-price decision. When you prepare to sell and are interviewing agents, study each agent's comparable sales report (the data should be no more than three months old). If all agents agree on a price range for your home, go with the consensus. Watch out for an agent whose opinion of value is considerably higher than the others as they are, more often than not, looking out for you

What are the standard ways of finding out how much a home is worth?
A comparative market analysis and an appraisal are the standard methods for determining a home's value. Your real estate agent will be happy to provide a comparative market analysis, an informal estimate of value based on comparable sales in the neighborhood. Be sure you get listing prices of current homes on the market as well as those that have sold. You also can research this yourself by checking on recent sales in public records. Be sure that you are researching properties that are similar in size, construction and location. This information is not only available at your local recorder's or assessor's office but also through private companies and on the Internet. An appraisal, which generally costs $200 to $300 to perform, is a certified appraiser's opinion of the value of a home at any given time. Appraisers review numerous factors including recent comparable sales, location, square footage and construction quality.

How do you prepare a house to sell?
Doing whatever you can to put your house's best face forward is very important if you want to get close to your asking price or sell as quickly as possible. Short of spending a lot of money, here are several ideas for making your home show better:
* Sweep the sidewalk, mow the lawn, prune the bushes, weed the garden and clean debris from the yard.
* Clean the windows (both inside and out) and make sure the paint is not chipped or flaking. And speaking of paint, if your home was built before 1978, new federal law gives a buyer the right to request a lead inspection. If you think you might have some problems, do the inspection yourself beforehand and make any fixes you can.
* Be sure that the doorbell works.
* Clean and spruce up all rooms, furnishings, floors, walls and ceilings. It's especially important that the bathroom and kitchen are spotless.
* Organize closets.
* Make sure the basic appliances and fixtures work. Get rid of leaky faucets and frayed cords.
* Make sure the house smells good: from an apple pie, cookies baking or spaghetti sauce simmering on the stove. Hide the kitty litter.
* Put vases of fresh flowers throughout the house.
* Having pleasant background music playing in the background also will help set your stage.

Where do I get information on housing market stats?
A real estate agent is a good source for finding out the status of the local housing market. So is your statewide association of Realtors, most of which are continuously compiling such statistics from local real estate boards. For overall housing statistics, U.S. Housing Markets regularly publishes quarterly reports on home building and home buying. Your local builders association probably gets this report. If not, the housing research firm is located in Canton, Mich.; call (800) 755-6269 for information; the firm also maintains an Internet site. Finally, check with the U.S. Bureau of the Census in Washington, D.C.; (301) 763-2422. The census bureau also maintains a site on the Internet. The Chicago Title company also has published a pamphlet, "Who's Buying Homes in America." Write Chicago Title and Trust Family of Title Insurers, 171 North Clark St., Chicago, IL 60601-3294.

Is a low offer a good idea?
While your low offer in a normal market might be rejected immediately, in a buyer's market a motivated seller will either accept or make a counteroffer. Full-price offers or above are more likely to be accepted by the seller. But there are other considerations involved:
* Is the offer contingent upon anything, such as the sale of the buyer's current house? If so, a low offer, even at full price, may not be as attractive as an offer without that condition.
* Is the offer made on the house as is, or does the buyer want the seller to make some repairs or lower the price instead?
* Is the offer all cash, meaning the buyer has waived the financing contingency? If so, then an offer at less than the asking price may be more attractive to the seller than a full-price offer with a financing contingency.


GETTING YOUR HOME SOLD


Selling your home shouldn't be a stressful ordeal. Making the smart move of choosing a REALTOR® is your first step to ensuring that your investment in your home pays off. My services and experience allow you to focus on your move while I manage your home sale from our initial consultation to the closing deal, and beyond. I pride myself on repeat business and hope you'll come to understand why.

As Your Agent, I Will:

  • Complete a comparative market analysis that will compare your home's value to that of your neighbors.
  • Compile a comprehensive plan detailing all the efforts I will employ to sell your home, including Internet and local media.
  • Present your home to as many qualified buyers as possible getting your home maximum exposure.
  • Help you stage your home and generate curb appeal to ensure you get the highest price.
  • Assist with obtaining offers and help you in negotiating the best deal as smoothly as possible.
  • Help you find your next home and answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

Recent Home Sales

What are homes selling for on your street?  Please contact me via email for a list of homes that have sold within the last six months at dawn@TetroTeam.com or call me at: 404-216-0884.

Getting the Highest Price for Your Home 

Curb appeal is key and could make a difference whether people stop and take a flyer, or drive right by. Make the front exterior of your home "pop".  Pressure wash the brick, stucco, trim, driveway and freshen the colors of the front door and shutters if you have them. Make sure lawn is well mainicured and attractively landscaped.

Staging your home is important. Many buyers will stay in your home longer if it's staged appropriately.  Staging is essentially a way of merchandising your home.  You want to ensure that everything the buyer sees, smells, hears and feels is appealing.  Make sure every room is clutter free and immaculate.  Please use my link to the left (Home Staging) for more details.

Make the home easy to show. Be flexible and ready to get out of the home at a moment's notice to allow buyers to looki at their convenience. Don't demand "Appointment Only" unless special circumstances require it. As is often the case, if it isn't convenient for a buyer or agent to look at your home, then they most likely will move on to others.

Closing Costs to Expect:

  • Title insurance fees depend on the sales price of the home but seem to average around $600.
  • Broker's commission is a full-service fee and will cost anywhere between 5% to 7% and is shared between the Listing Agent and the Selling Agent
  • Local property transfer tax, country transfer tax, state transfer tax, and state capital gains tax are the charges that you'll pay for the privilege of selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on when you close and when your taxes are due.
  • FHA fees and costs are all fees are negotiable between an FHA buyer and seller.
  • Home inspections fees are in some circumstances paid for by the seller, but are usually the responsibility of the buyer and can include pest, radon and other inspections.
  • Miscellaneous fees can accrue from correcting problems noticed during the home inspection.


TESTIMONIALS


"We recently made the decision to sell our home and selected Dawn Tetro as our agent. We could not have been more pleased with our experience and ultimate home sale.

Our goal was to be closed and moved within 6 weeks.  To make this possible, prior to listing our house, Dawn advised us on what was necessary to make the house most appealing to buyers. In addition, Dawn diligently researched the market to determine the optimal market price in our neighborhood.

Dawn worked tirelessly to network with agents to build interest and pre-schedule showings prior to listing the house.  And it paid off.  During the first week, we had multiple offers; with Dawn's guidance and expertise, we were able to choose the offer with the best terms and price for us.

Thanks to Dawn's attention to detail, anticipation of potential pitfalls and responsiveness to our questions/concerns in handling the selling process - we moved in 6 weeks!"

Happy in our new home in Florida,

Don & Ann Glaze


NO Obligation Home Evaluation


The correct selling price of a home is the highest price that the market will bear. To assist you in determining the correct asking price we provide you with a comprehensive market analysis of comparable properties sold and offered for sale in your neighborhood.
Simply enter your criteria below, and we will provide you with a speedy response. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential.  There is no obligation.  Please indicate when you are thinking of selling and if you are moving within Metro Atlanta or relocating outside Metro Atlanta. 

To provide a more detailed Comparative Market Analysis, we would be more than happy to also assess your listing in person.

 

   
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