Hint: Overpricing to allow room for negotiating is NOT one of the ways.
Article courtesy of Keeping Current Matters/The KCM Blog 2/20/18
Every
homeowner wants to make sure they maximize their financial reward when
selling their home. But how do you guarantee that you receive the
maximum value for your house?
Here are two keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOW
This may seem counterintuitive, but let’s look at this concept for a
moment. Many homeowners think that pricing their homes a little OVER
market value will leave them with room for negotiation. In actuality,
this just dramatically lessens the demand for your house (see chart below).
Instead of the seller trying to ‘win’ the negotiation with one buyer,
they should price it so that demand for the home is maximized. By doing
this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.
Realtor.com gives this advice:
“Aim to price your property at or just slightly below
the going rate. Today’s buyers are highly informed, so if they sense
they’re getting a deal, they’re likely to bid up a property that’s
slightly underpriced, especially in areas with low inventory.”
2. Use a Real Estate Professional
This, too, may seem counterintuitive. The seller may think they would
make more money if they didn’t have to pay a real estate commission.
With this being said, studies have shown that homes typically sell for
more money when handled by a real estate professional.
A study by Collateral Analytics,
reveals that FSBOs don’t actually save any money, and in some cases may
be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:
“FSBOs tend to sell for lower prices than comparable
home sales, and in many cases below the average differential represented
by the prevailing commission rate.”
The results of the study showed that the differential in selling
prices for FSBOs when compared to MLS sales of similar properties is
about 5.5%. Sales in 2017 suggest the average price was near 6% lower
for FSBO sales of similar properties.
Bottom Line
Price your house at or slightly below the current market value and
hire a professional. This will guarantee that you maximize the price you
get for your house.
Article Courtesy of Keeping Current Matters/The KCM Blog
The
interest rate you pay on your home mortgage has a direct impact on your
monthly payment. The higher the rate the greater the payment will be.
That is why it is important to know where rates are headed when deciding
to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.
How Will This Impact Your Mortgage Payment?
Depending on the amount of the loan that you secure, a half of a
percent (.5%) increase in interest rate can increase your monthly
mortgage payment significantly.
According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.
If both the predictions of home price and interest rate increases
become reality, families would wind up paying considerably more for
their next home.
Bottom Line
Even a small increase in interest rate can impact your family’s
wealth. Meet with a local real estate professional to evaluate your
ability to purchase your dream home.
With the vote for incorporation coming up on March 27th, it's important to know what the vote will mean for Indian Land in general and SCCL in particular. This posting in no way suggests you vote one way or another, but presents both sides of the issue to help you make an informed decision. If you are not a registered voter in Lancaster County, be sure to register so you can vote in this and all elections. You can request an absentee ballot by contacting the Lancaster County Board of Voter Registration and Elections.
Below are links to the websites of the primary groups on each side of the incorporation issue, as well as documents that have been circulating around the community from various sources. New items are being added as received, so the quantity of information on each side of the issue may vary at any given time.
FOR INCORPORATION
- YES FOR INDIAN LAND (http://yes4il.com/)
- VOTERS FOR A TOWN OF INDIAN LAND/VTOIL (townofindianland.org)
- TOWN OF INDIAN LAND INCORPORATION INTEREST GROUP (RESIDENTS MUST GO TO SCCL WEBSITE TO ACCESS THIS GROUP) (http://www.oursccl.com)
- YES FACTS BY YES4IL
AGAINST INCORPORATION
- NO TOIL/NO TOWN OF INDIAN LAND (http://notownofindianland.org/)
- RESIDENTS OPPOSED TO INDIAN LAND INCORPORATION INTEREST GROUP (RESIDENTS MUST GO TO SCCL WEBSITE TO ACCESS THIS GROUP) (http://www.oursccl.com)
- LETTER FROM COUNCILMAN BRIAN CARNES
- DOCUMENT BY SCCL RESIDENT BARBARA SCARNELL
- DOCUMENT BY SCCL NO TO IL INTEREST GROUP
- NO FACTS BY CITIZENS AGAINST INDIAN LAND
INCORPORATION
- ARTICLE BY SHERIFF FAIL
2/21/18 Update
The Carolina Gateway newspaper began a series today which compares the "pro" and "con" on various incorporation issues. Today's topic was "How would incorporation affect law enforcement?"
If you do not receive Carolina Gateway (delivered on Wednesdays), I believe
that you can view a limited number of pages online each month without
having to purchase an online subscription.
http://www.carolinagatewayonline.com
You might also want to contact the paper for a print subsciption.
Carolina Gateway | circulation@thelancasternews.com | 803-283-1145
The following voting information comes from an article in the January 31 issue of the FORT MILL TIMES:
Voters need to be registered for the March 27th Indian Land incorporation vote a month prior to the vote (February 27th).
Voting will take place from 7 a.m. to 7 p.m., "with other details mirroring typical elections in the county."
According to Lancaster County Board of Elections director Mary Ann Hudson, they plan to have absentee voting open by February 26th.
Please be sure to check out the interactive charts available by clicking on the "UP-TO-DATE STATS FOR SCCL" tab at the top of this home page. These charts have the most current stats available through CMLS (through the end of the previous month).
Click on a graph to see stats at a given point in time.
Each data point is 1 month of activity.
Home Inventory Determines What Kind of Market We Are In
See the "Months Supply of Homes for Sale" chart to determine what kind of market we are currently in here at Sun City Carolina Lakes.
- Less than 6 months of inventory = Seller's Market with upward pressure on prices
- 7-9 months of inventory = Flat Market
- More than 9 months of inventory = Buyer's Market with downward pressure on prices
