Vicki Pantelopoulos – Regina’s Military Relocation Realtor
I am dedicated to selling your home or finding you that dream home you are searching for. You are invited to browse my website and call or e-mail me with any questions you have about buying or selling a home in the area.
Buying a home?
Your satisfaction is my top priority! I will take the time to listen to your needs and desires and help you find your dream home.
Selling your home?
I will get your home sold for top dollar and in a timely manner. My online and offline marketing programs give me the edge needed to make this possible.
READ VICKI’s Blog on Real Estate Advice
Research
Prior to a listing appointment, the home seller and listing sales representative have work to do. While the home seller collects the documents requested by the sales representative, the listing representative must study recent area home sales that are comparable to the seller’s.
Projecting the Value of a Home
During the listing appointment, the listing sales representative will inspect the home and yard to get to know special features as well as the floor plan. At this point, it is important for homeowners to clearly indicate to a sales representative any community or home features that could be of value to potential homebuyers. Examples includes home features that are not readily apparent as well as community-based features such as schools, churches, child care services, public transportation and other community-based features. Because prospective buyers comparison shop and are aware of subtle differences in homes, it is vital sellers inform sales representatives on what makes their home unique.
Comparative Market Analysis
Maximizing Market Value
The preparation of a Comparative Market Analysis (CMA) is an important tool your sales representatives well use to help sellers earn the highest price for a home. CMA’s involve looking at public records of real estate businesses in the community to better understand market conditions. There are four steps taken by a sales representative to prepare a home’s CMA:
- SOLD Properties A professional sales representative will consider the amount paid for at least three recently sold comparable homes in the community. These homes are comparable in size and amenities and give a clear reflection of what the MARKET (buyers) is willing pay.
- CURRENTLY For Sale The next step is to consider the asking prices of at least three properties presently listed in the community. Because these homes are similar to the one for sale, each operates as a benchmark against which the home will be priced and will be a direct competitor for buyers in this price range.
- EXPIRED Listings Your sales representative then considers the asking prices of at least three houses in the community that went unsold within the least 90 days. Such homes indicate the price at which the MARKET (buyers) is unwilling to pay and clearly illustrates the dangers of overpricing a property.
- ASKING Price Then, such pricing information is examined to arrive at an ideal asking price for a home to be sold.
Market Value
Current Market Value is ever changing. It is dependent on a number of key indicators such as:
- Current Mortgage Rates
- Time of Year
- Size of Listing Inventory
- Economic Stability
- Recent Home Sales
- Crime Rate
- Profile of the Neighborhood
- Condition of the Real Estate Market
One important key indicator relates to the number of listings currently on the market and the speed with which they sell. This is referred to the absorption rate and shows the number of months inventory of houses for sale that are available and how many months it would take to sell them all if no new listing came on the market.
The absorption rate is calculated by taking the number of listing currently on the market and dividing it by the number of sales that occurred in the previous 30 days. Your professional sales representative will be able show you how this effects the pricing of your listing and the condition of the real estate market.