SELLING YOUR HOME IN 2011?

LIST MARILYN BOUDREAUX FOR MAXIMUM EXPOSURE!

I provide unparalleled marketing strategies with attention to detail that make a difference in obtaining the best price in the shortest period of time with the least amount of inconvenience.  To schedule an appointment for a free market analysis please contact me at 337-499-9592.

HOMEOWNER AND SELLER TIPS

SELLING YOUR HOME?

According to the National Association of Realtors people who use the services of a Realtor are 84% more likely to sell their home successfully.  Anyone can  offer you the basics but I offer you much more.  Exposure is the name of the game along with pricing your home correctly. GOOGLE my name MARILYN BOUDREAUX and check out my Internet presence.

20% of listings on the market expire before they sell.  On average listings are for six months.   The #1 reason most homes sit on the market with no activity is the house is over-priced.  In good markets or bad, price is the key factor in selling a home. Regardless of location or condition, any home will sell at the right price.

Properties that sell fastest sell closest to list price.  Those that are on the market longer sell for much less than those which were priced realistically when it was first placed on the market.  Realtors do not determine market value. Neither do sellers. Market value is the amount a buyer is willing to pay and a seller is willing to accept for a specific property. Sellers should never price their homes based on what other sellers are asking. The only prices that matter are those of comparable homes that have recently sold. Buyers also want to see a comparable market analysis.

90% of the showing and previewing activity happens in the first two weeks.  Pay attention to the pricing of your home. The long market time will cost you in the long run.   

Marketing  the sale of your home  when it is first listed is my primary goal.  Did you know that 87% of buyers today begin their home search on their own online?  How will your home be found by prospective buyers? If you are looking for a listing agent that knows how to market then GOOGLE my name MARILYN BOUDREAUX  name and view my internet presence.   By utilizing Facebook, Active Rain, and many other real estate websites to get in front of as many buyers as possible you will get the best search placement on GOOGLE.  Ask me about my call capture technology and custom domain sites I use to market your home. Your property will be  seen!  No other agent does more marketing for you in Lake Charles. 

WHAT DOES IT COST TO SELL YOUR HOME? 

1. Your current mortgage Payoff: This will most likely be the largest amount that you'll be subtracting from the sale price of your home.

2. Property taxes for the time you lived in the home: Whatever you have paid up to date for the year will be pro-rated at closing.  You will only pay for taxes during the months you lived in the home.

3. Title Charges: You may be asked by the Buyer to pay for the title meaning you agree to pay for the charge to update and attorney review for title opinion.  This is usually no more than $450 in Calcasieu Parish although attorney fees do vary.

4. Home Warranty: Your buyer may ask that you provide a home warranty. $475 is customary for most warranty companies.

5. Commission: Yes, as a seller, you will be responsible for paying your hard-working agent for the spectacular work they have done marketing and negotiating your home, and guiding you through the process as an educator and advocate. This fee should be discussed when you are listing your home.  5-6% is customary with most brokerages depending on the size and price of the home.

6.  Closing Costs:  Now days most buyers will ask for closing cost assistance.  Depending on the type of loan they are applying for will depend on the amount they will ask seller to contribute.  Be prepared for this when you receive an offer, it is the name of the game in our current market.

WHAT IS A THE SHORT SALE?

A short sale is when a home is sold for less than the amount owed on the mortgage for the home. This occurs when the bank agrees to take less than the full amount due on the mortgage.

A seller does not have to be behind on a home loan to seek a short sale. If sellers wish to pursue a short sale, they must owe more than what the home is worth, demonstrate the house cannot be sold for the amount owed, and suffer from a legitimate financial hardship that makes the mortgage unaffordable.

The next step in the short sale process is to assemble a short sale package. This package will include such things as a financial statement showing monthly expenses, income documentation, bank statements, tax returns, a listing agreement, purchase agreement, an estimated HUD statement and a financial hardship letter.

If the home is sold as part of a short sale, there will be a difference between the amount owed and what the bank collects. This is called the shortage or the deficiency. Sometimes this deficiency may be negotiable. Some banks will seek a promissory note for the deficiency, meaning that the seller may be responsible to pay the difference between what the home sold for and what is owed to the lender. Some lenders might choose to file a collection or a judgment for the amount owed. The seller should be certain that any amount of debt, or release from debt, is received in writing. If the deficiency is forgiven, the lender can write off the shortage with the IRS, which means the seller may be responsible for paying taxes on the amount of the deficiency. However, the Mortgage Debt Relief Act of 2007 generally allows taxpayers the potential for relief from tax on mortgage debt forgiveness.

A short sale will affect the seller's credit score. To minimize the effect on a credit score, sellers should avoid making late payments on their mortgage and work with the bank to report the sale in the best possible manner.

Open House Tips for Sellers

1. Keep the yard neat, lawn mowed, shoveled if necessary.  Walkway, entrance, porch should be clean and  uncluttered
   2. Garage tidy
   3. All the rooms should be neat and clean; remove excess knickknacks and furniture (remember if you put them into the garage or closets – keep it neat!)
   4. Floors vacuumed or washed; beds made
   5. Curtains and blinds open and all lights on
   6. Cars removed or parked elsewhere
   7. Minor repairs made
   8. Pets and related items removed
   9. Deodorize
  10. Take out the trash
  11. Clean windows
  12. Owner and family members absent