Dave Harbison's Long Beach CA Real Estate Update: Common Mistakes I See Sellers Make

Dave Harbison's Long Beach Real Estate Update Blog


Featured Homes
Bookmark and Share

Quick Search

Advanced Search

Click Here

Search by Listing #




Search by Street Address
Free Email Updates


Visit Dave Harbison's Facebook profile
Visit Dave Harbison's Active Rain profile
Visit Dave Harbison's LinkedIn profile
Visit Dave Harbison's Twitter account


Free Relocation Package for moving or transferring to the Long Beach area




Dave Harbison's Long Beach Real Estate Blog
Subscribe to Dave Harbison's Long Beach CA Real Estate Update by Email

Tuesday, April 12, 2011

Common Mistakes I See Sellers Make

Signs are finally pointing to a stablizing of the Real Estate marketplace in Southern California. More homes are being sold. Buyers are out in full force looking for the most home for their money. And banks are starting to loosen up the purse strings (albeit, very cautiously). This is not to say we're out of the woods yet. Our economy is fragile and any hiccups in our economic machine may drive us back to where we were a couple of years ago. I'm always optimistic, so I firmly believe we're on the way up, not down. With that said, I enjoy educating sellers on how to take advantage of these times, even though the perception is that the buyer is in control. This is not always the case. In fact, if handled correctly, sellers can still reap bountiful rewards on the sale of their home. That's what I look to do when presenting the opportunities to sellers. Yet, I am constantly overcome by the amount of sellers that feel compelled to execute a strategy that may cost them profits in the long term. Here are a few mistakes I see sellers make these days when selling their property:

  1. OVERPRICING THEIR HOME Home values have obviously adjusted themselves from their peak in 2006. This makes it tempting to list your home based on the value a few years ago and not today -- especially if you purchased it while the sellers market was "red hot". Things have changed quite a bit since then. Buyers have become much more aware of the marketplace and values. They have been inundated with information from all different news sources and are much more informed...and cautious. Overpriced homes sit longer and often go through several price reductions before being sold. If you're a motivated seller, be realistic about your home's value. Make the hard call to price it to sell today, not like it's 2006. You'll have greater peace-of-mind and the good feeling that comes with looking to your next challenge in life.

  2. UPGRADES/UPDATES/REMODEL This is a very hard decision. The goal is to make as much from the sale of your home as possible. Curb and room "Appeal" always plays a part -- especially in a buyers market where similar homes with more appeal and updated/remodelled features are in competition with your property. Seriously evaluate the pros of upgrading your kitchen and/or bathroom(s) and even front lawn against how your home would fare against the competition without any updates or changes. Depending on inventory and desirability of the location, you may want to make the investment.

  3. OVERPRICING IN A BUYER'S MARKET It's no secret that home values have decreased over the past few years. By some accounts, as much as 27% since 2006. Some markets even declined 50-60%. Do a reality check. Get a firm understanding of the marketplace TODAY. Know what other homes have already sold for in the past 3-4 months, then gauge your listing price on that. In real estate, home sellers are either leading the market or chasing it. If you are chasing the market by listing your home above recognized market value, you most likely will fetch less for your home than you would have if pricing it close to market value as buyers would feel there is something wrong with the home. In addition, focus on the homes recently sold in your area and those currently for sale. Each represents a reference point/competition (respectively) to your home.

  4. USE AN AGENT THAT IS TECH SAVVY Although Real Estate has traditionally been thought of as a "localized business", the effectiveness of reaching beyond your community's borders is extremely important these days. Make sure you're Realtor is actively engaged with the main Real Estate Portals and social media outlets. There are so many additional ways to expose properties to buyers. Real Estate is a global business with potential buyers all around the world and always within our social connections.

  5. PHOTOGRAPHY IS KEY In a web-centric world, photos and virtual tours represent key marketing communication vehicles for your home. Be sure your agent is able to capture the essence of your home, its highlights and those areas most important to buyers -- kitchen, bathrooms, yard and living space

  6. DON'T HANG AROUND WHILE BUYERS ARE PREVIEWING YOUR HOME If you are in your home or follow potential buyers around while they are previewing your property, chances are the buyers will feel a bit nervous. It's been my expereince that privacy while my buyers are looking at a home is important to gather true feedback and better position the home for sale. Buyer's agents are there to help you sell your home. Try to stay out of their way.

Don't hesitate on giving your Realtor a call to gain additional "ins" and "outs" of positioning your home for sale.

---Dave Harbison Long Beach REALTOR®Main Street Realtors (562)618-9770---Long Beach Realtor® / Real Estate AgentLong Beach Homes for Sale, Condos and Investment PropertiesLong Beach Relocation Expert---

Labels: , , , , , ,


# posted by Dave Harbison @ 1:38 PM


This page is powered by Blogger. Isn't yours?



Dave Harbison California DRE #01475840
Main Street Realtors Direct: .. (562) 618-9770
244 Redondo Avenue Fax: (562) 597-2968
Long Beach, CA 90804 Send Email to Dave
Coldwell 

Banker Coastal Alliance, 1650 Ximeno Avenue, Suite 120, Long Beach, CA 90804




About Dave Harbison's Long Beach, CA Real Estate Website: The www.davesellslongbeach.com web site provides Long Beach including the fine communities of Alamitos Heights, Artcraft Manor , Belmont Heights, Belmont Shore, Bixby, California Heights, Carson Park, Circle Area, Downtown, East Side, Los Altos, Park Estates, Los Cerritos, Marina, Naples, Plaza, Poly Area, Signal Hill, South of Conant, University Park Estates and Wrigley Heights, California real estate information and resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other realty property in the Long Beach area. Dave Harbison (Sometimes Spelled David, Harrison, Harboson, Harbson, or Haribson) has services to help you get the best value for your Long Beach home and this website offers home buyers and home sellers a superior comparative market analysis (CMA), a way to view real estate and MLS IDX listings including virtual tours, prepare your home for sale, and more. Investors looking for real estate investment properties to invest in need look no farther. Anyone selling a home, buying a home or seeking housing can learn more about our realty services, and will appreciate working with a  Long Beach REALTOR who knows  the area so well. Through trusted partners, we also provide real estate and financial services to consumers looking for houses for sale or selling their home in Long Beach, CA, such as mortgages, credit history, new homes, foreclosures and other services. If you've already tried to go the for sale by owner (FSBO) route and find you are needing a partner who you can trust in the sale of your most precious asset, Dave Harbison can take care of your special needs. It really doesn't matter if you spell it REALTOR, Realator or Realter, realty, realety or reality, real estate or realestate, Dave speaks  your language.
Great Real Estate Agent Websites for Realtors - Best Real Estate Web Site Design for Realtors (c)2012 HoopJumper WebSystems, All Rights Reserved (949) 309-2299 - Espanol - Sitemap
Bookmark and Share