Saturday, February 27, 2010

Evaluate Your Property Before Closing.

Today’s real estate market is filled with foreclosed and REO sales. In such a situation, determining the true market value of the property has become a difficult task. The most common method used is the method of comparable sales. This is the simplest method and all you have to do is to research information on the properties sold in the area of your choice. This information is available on the websites of all local governments. These websites give you a complete description on the square area of the home, its actual rate and the current legal standings, if any on the property.

Many websites also offer a property evaluation that is computer generated. This method is called automated validation as it determines the estimated price based on aggregate sales. The value generated by this method may have an error range of 3 to 5 percent. The internet is a large database for all your property evaluation queries. However, the most useful and powerful database is the local MLS. This database has details about when the property was put on sale, the starting selling price, buyer negotiations if any, whether the seller was ready to negotiate, etc,. The local MLS is regularly updated by the local realtors.

You can evaluate your property either on the local MLS or by making use of the computer sales available on the internet. Irrespective of the method employed, there are a number of factors to be considered. The most important of them are the location of the property, square footage and the number of rooms. While evaluating property you must look at houses within a radius of one mile or less for comparison with your property. Irrespective of the square footage of the property, there is a fixed price for each property based on the land value, construction costs, subdivision plans, sewer, etc. Hence it is wrong to evaluate that if a 1000 sq ft property costs $100000, then an 1100 sq ft property will cost $110000. More relevant to property evaluation is the number of rooms in the property. That is, in the case of two houses on a 1200 sq ft area, one with two bedrooms and another with three bedrooms, the three bedroom property will cost more.

Other factors that affect the price of a property include the garage facilities, neighborhood and trend of selling price of properties in the targeted locality.

For additional resources and information please visit the following sites.

Resource Links:

http://www.gmacrealestate.com

Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings:
http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog:
http://www.GreatWestBlog.com

T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
Brodie Stephens (Executive Vice President) One Stop Blog:
http://www.brodiestephensblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings:
http://www.HouseTalkOnline.com
GreatWest Videos:
http://www.youtube.com/brodiestephens
Facebook Brodie Stephens Profile Page:
http://www.facebook.com/brodiestephens
Facebook GreatWest Profile Page:
http://www.facebook.com/searchmlshomesforsale
MySpace Brodie Stephens Blog:
http://www.myspace.com/brodiestephens
MySpace GreatWest Blog:
http://www.myspace.com/greatwest
Picasa Web Album:
http://picasaweb.google.com/brodiestephens

GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com
Global Employee Relocation:
http://www.employeerelocation.blogspot.com
Apply for a Loan:
http://www.choice1funding.com

ActiveRain Blog Brodie: http://activerain.com/blogs/brodiestephens

ActiveRain Blog Company:http://activerain.com/blogs/greatwestgmac

Sacbee:http://www.sacbee.com

Company WordPress Site:http://www.thehomeholders.com

Real Living:http://www.realliving.com


Thursday, February 25, 2010

Do I Need A Real Estate Agent?

Selling a home or buying one can be quite a process. It’s important that you plan and have a clear idea of the type of home you want to buy or sell, market prices and paperwork involved. You also need to know many things such as ‘closing’, getting the best price, selling your house and buying a new one simultaneously .This may prove to be a tiresome task if you do not know how to go about it. There are two main ways to do it, with an agent or without a real estate agent.


Knowing the value of your home and the changing prices is vital, as is a willingness to negotiate. Sale price can be higher than the market price by ten to fifteen percent in a good market; in a bad one it may be closer to the appraisal. Having a real estate agent how knows the ropes and can negotiate his way to a good price while making the buyer believe he is getting a good deal can help make the whole process easier.


A home inspection is also important while your sale is on. The seller will get an impression and more importantly you can discover flaws if any during the pre-sale period and set them right or negotiate around them with the help of a good agent. It is important that you know the disclosure laws for your state so that you can work out a good deal for the sale.


Patience is essential. It is true that a home can go ‘stale’ after being in the market for too long. A stale sale can also occur when a seller is expecting unrealistic prices or is in too much off a rush to sell the home. Both of which will not yield good results.


Keep your house in the market as long as you find an affordable new home. Otherwise paying two mortgages can be heavy on the pocket. Bridge loans are however available. These loans allow you a down payment based on the home equity of the property on sale. You have good resources at hand to make maximize use of and thus your selling process becomes all the more easier. A well experienced real estate agent can help make this tiresome process happen seamlessly taking care of the paperwork and the details involved. To find yourself a good realtor or a good deal on your buying and selling options visit http://www.greatwestgmac.com.


For additional resources and information please visit the following sites.


Resource Links:

http://www.gmacrealestate.com

Bill Fields All Star Coaching Program: http://www.AllStarCoaching.net
GreatWest GMAC Search all MLS Listings: http://www.LocalHomeLink.com
GreatWest GMAC Consumer Buyer/Seller Blog: http://www.GreatWestBlog.com
T. Sami Siddiqui (Broker/ Owner) Buzz About Sacramento Blog: http://www.samisiddiquiblog.com
Brodie Stephens (Executive Vice President) One Stop Blog: http://www.brodiestephensblog.com
GreatWest Podcasts- Weekly Updates on new REO, Short Sale, Bank Owned Foreclosure Listings: http://www.HouseTalkOnline.com
GreatWest Videos: http://www.youtube.com/brodiestephens
Facebook Brodie Stephens Profile Page: http://www.facebook.com/brodiestephens
Facebook GreatWest Profile Page: http://www.facebook.com/searchmlshomesforsale
MySpace Brodie Stephens Blog: http://www.myspace.com/brodiestephens
MySpace GreatWest Blog: http://www.myspace.com/greatwest
Picasa Web Album: http://picasaweb.google.com/brodiestephens
GreatWest Real Estate Careers- GMAC is looking for Professional Realtors to Join Us: http://www.CareersWithUs.com
Global Employee Relocation: http://www.employeerelocation.blogspot.com
Apply for a Loan: http://www.choice1funding.com

ActiveRain Blog Brodie http://activerain.com/blogs/brodiestephens

ActiveRain Blog Company http://activerain.com/blogs/greatwestgmac

Sacbee http://www.sacbee.com

Company WordPress Site http://www.thehomeholders.com

Real Living http://www.realliving.com