Welcome to the CENTURY 21 Barbara Patterson Real Estate Blog

July 5, 2012

Determining The Price of Your Home

HOW TO DETERMINE THE PRICE OF YOUR HOME

 

By  Jerry Tatlock

 

               Why is it that some homes sit on the market for a year while others sell like hot cakes?  Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price.

               If a home is overpriced, buyers will stay away.  But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.

               The secret is perfecting a technique that’s as American as apple pie: comparative shopping.

               Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.

               A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Marketing Analysis (CMA).  Taking a look at assets, such as a bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months.  Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonably

               However, factors such as the amount of time needed to sell your home can alter the agent’s price recommendation dramatically.

               Typically, people should check with a real estate office in the community to determine the typical duration that listings are on the market.  Sales associates will explain that the marketing “norms” vary with prices and properties.  Based on this criteria, the agent feels confident that he or she will be able to sell it for a price that both you and the buyer will be happy with.  However, if you’re under time constraints because of unexpected job changes or moving agreements you’ve made on another property, this will narrow your chances of selling the home for top dollar in the market.

               Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

               The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months.  Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.

               Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes.  Most MLS services provide information on deals pending that most real estate agents should be able to shore with you.

              Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help an agent get a better feel for how to best evaluate (or assess) and market your home.  Think of your home as if you were the buyer.  If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.

 

 

June 22, 2012

3 Ways to Restructure Your Mortgage and Save Thousands!!

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Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

June 5, 2012

Take the Headache Out of Moving

A FEW EASY WAYS TO TAKE THE HEADACHE OUT OF MOVING

 

By Jerry Tatlock

          Moving from one house to another is always a challenge, but it doesn’t have to be a nightmare.  Here are some simple tips on how to get it done with minimal stress and strain.

  • Look at all the alternatives: hiring a moving company, for example, versus renting a truck and doing it yourself.  Whichever alternative makes most sense for you, get bids from more than one vendor.
  • A few days before the moving company is scheduled to arrive or you’re supposed to pick up your rental truck, call to confirm that everything is on track to happen when it’s supposed to .
  • Prepare your change of address cards in advance and send them out as soon as it’s appropriate to do so.  The post office, utilities, companies and people you do business with, city hall, friends, relatives – all should be notified of your move.
  • Get an early start on packing by concentrating on seldom-used items first.  Each box should have its contents and the room those contents belong in written on it clearly. 
  • Take a hard look at things you seldom or never use and throw away as many of them as you can.  The more you throw away, the less you’ll have to move.  Every item you throw away is one less item to clutter up you new home.
  • Use your extra towels and linens to protect breakables.  When your supply of these things is exhausted, crumpled newspaper makes an excellent substitute.  Write “Fragile” on all appropriate boxes.
  • Put your valuables (such as jewelry) and important documents (birth certificates, car titles, etc.) aside in some safe place where they won’t be misplaced.
  • When the house is empty, go back for a thorough final inspection.  Check closets, crawl spaces, basement, attic, out-of-the-way nooks and crannies of all kinds.  Have a second person make the same inspection separately.
  • Clean your new home thoroughly before moving in.  It’s infinitely easier that way.
  • Decide in advance where you want the heavy furniture.  Changing your mind after the movers have departed is no fun – especially for your back!
  • Locate all fuses, circuit breakers, and water/gas and electrical valves.  Record the meter readings and check the smoke detectors.
  • List the phone numbers of the local police and fire stations, doctors, nearby hospitals, etc.  Put a copy of your list near each phone.

 

Above all, plan, plan, plan and plan some more. Make a schedule you can live with, and then stick to it.  Preparation and forethought will help you to keep everything under control and finish the move with your sanity and your nervous system intact.

 

May 13, 2012

CENTURY 21 Barbara Patterson Wins Award

CENTURY 21 Barbara Patterson gets national honor

SOUTH BERWICK, Maine — Century 21 Real Estate LLC has announced that CENTURY 21 Barbara Patterson is a recipient of the company's Quality Service Office award for commitment to providing quality customer service to clients.

"Receiving this award is a great honor and a testament to the focus and attention we commit to our clients in ensuring that they understand each and every step of the home buying and selling process," said Jerry Tatlock, broker/owner of CENTURY 21 Barbara Patterson. "This award is the collective result of the efforts of each and every member of the CENTURY 21 Barbara Patterson staff."

Based on customer feedback received from the CENTURY 21 System's Quality Service Survey, the award recognizes those offices nationwide that earn a minimum customer satisfaction index of 85 percent or better on real estate transactions they closed from Jan. 1 to Oct. 31. The Internet-based survey is e-mailed to consumers immediately after the purchase or sale of a home through a CENTURY 21 System office.

"A commitment to quality customer service is crucial in today's competitive real estate market," said Rick Davidson, president and chief executive officer of Century 21 Real Estate LLC. "CENTURY 21 Barbara Patterson has demonstrated that dedication to the consumer is the hallmark of the CENTURY 21 System's franchise offices."

Located at 96 Portland St. in South Berwick, CENTURY 21 Barbara Patterson is a full-service brokerage firm specializing in residential, luxury, and commercial property listings.

May 4, 2012

Improve Your Insurance Score

  • Improve Your Insurance Score

    Paying all of your bills on time is one good way to improve your insurance score—and, in turn, lower your homeowners insurance premiums. Read

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Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®