In the real estate market today everything is recovering due to the economy and people are looking for lakefront homes. People are looking for a deal, but they do want to buy, trusting your opinion might not be the wisest choice but what is important to look at is the opinion that validates pricing is the buyer’s lender and the bank’s appraisal prior to closing. Never risk losing a sale or settling for lower prices. Be informed, here’s why it makes sense to be proactive in the market today.
Buyers are well educated and understand the market, the sentimental value of your property is of no concern to them just the informed opinion that they can see and gain on you. If you caught yourself saying things like “our home is extremely unique and buyers who get that will gladly pay our asking price. A large number of sellers truthfully believe they know the market value of their home and think that a buyer will automatically pay more since they desire to live the lakefront lifestyle. Unfortunately, in today’s market, you can’t find someone willing to pay over the bank-appraised value for any home. Buyers will always use the lowest appraisal as a means to renegotiate, despite loving and or wanting the home.
A proactive valuation instantly has you in control, knowing what their offer might be and what to prepare for can give you the upper hand where previously you might not even have had a leg to stand on with your price you think was “right on the money” so to speak. What am I suppose to do when buyers are constantly low balling me in my home. Having the appraisal is a powerful trump card. It allows you to justify a comfortable price and negotiate quicker without biased for your own home, based on the bank and certified current market data. You can get the full asking price within one counteroffer by simply submitting the appropriate appraisal.
Playing games with your buyer in this market does not work, “I can always start high and come down later no problem” if this is you, you just lost a sale completely. Let me tell you why this does not work, the only chance you have to sell at a full price of your asking is in the first two weeks on the open market, do not expect the full price if you don’t sell in that time frame. You are actually helping others sell their homes because the buyer sees a better offer and boy will they take it. Buyers are not easy to take advantage of them have as much at stake as you. Ask what it’s worth not what you think it’s worth and people will line up with others because at the end of the day selling the property is worth more than never selling.
Justify your logic, while lakefront properties are hard to price so you will get vast and different numbers out of many realtors because many realtors do not specialize in them. Having property in a waterfront gives it a somewhat subjective and additional value, and need to be looked at through a more statistical process. Waterfront specialist like Ed Constable can help you closer determine the value of the home. Trained professional real estate appraisers are licensed for just that type of analysis also, that’s why knowing, in this case, is half the battle to sell your home. Providing this powerful data can ultimately force buyers into a position that is in your favor.
Focus on the process, if you catch yourself saying “but the buyer will also get it appraised so mines worthless to them”. This is not true having a good base standard for the house to be sold on means they consider you as an option at all, without your appraisal you have no base for them to consider you in the first place. Lakefront comparisons are extremely hard to find, but appraisers will always be a good head start.
Being ahead of the competition in every way, There are lakefront homes for sale all around you that most likely they did not complete and do a professional appraisal. So, their home is lingering on the market, over-priced, and getting stale. Having priced it right from the start, they would have actually saved tons of time and energy by pricing your lakefront home correctly.
Appraisals pay for themselves if you catch yourself saying “I don’t want to spend a lot on an appraisal”. Remember, the appraisal is the only price opinion that really matters in today’s market. You can accomplish what others are not doing, proper pricing strategies, a maximum value, and quicker sales.
Call me today and have me work for you. You will be thankful that you did!
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