It's SNOWING in New Bern North Carolina!

Wow! . . . what a beautiful scene, and it's soooo unusual for our area of Eastern North Carolina.

Tomorrow is supposed to be warmer and sunny, so I'm enjoying it while it lasts! ;-)


CLICK HERE to see a short video:


Dianne Dunn
www.NewBernHomes.com

Fabulous CyberStar Real Estate Convention!

Just returned from my 8th CyberStars Summit this past week in Phoenix/Scottsdale, Arizona. I always consider this annual event to be THE BEST real estate seminar or conference, (and I’ve attended numerous real estate seminars/classes and conventions over the past 30 years!)


It was really awesome to see so many top-producing friends again (from many different companies), and to meet new ones. It’s an annual educational/learning event, attended by Cyberstars™ who are passionate about real estate, and we all share new ideas with a positive attitude, about ways to help the housing industry. Real estate should still be your first and most important investment strategy!

The Cyberstars™, founded by Allen Hainge in 2001 with 4 original members, has grown to approximately 200 real estate agents from the United States, Australia, Bahamas and Canada. It's a very exclusive group “by-invitation-only”, and I’m very honored and proud to be affiliated since 2002. There are only 7 Cyberstar™ Realtors® in all of North Carolina and I am the only New Bern area member. Each CyberStar™ member must:

• Be a Top-Producing Realtor® in his/her marketplace.


• Demonstrate a commitment to the use of technology and a custom website, to better serve their clients.
  
• Share real estate technology ideas, tips and strategies with other CyberStars™.

The end result: Better client service, more productivity, sharing of knowledge, and more fun!

CLICK HERE to view ALL CyberStars

I'm always amazed to be in a large room with top Realtors® sharing real estate and business technology and ideas, in a very fast-paced learning environment. Every Realtor® in the room had a laptop PC and it's awesome to see over 110 PCs in one room!

Over time, I will be sharing some strategies and tips that I have learned, and have already implemented a few. Watch my BLOG for exciting CyberStar™ idea implementations.

SIGN UP HERE to subscribe to the New Bern Blogs as they are posted - it's easy!

Tour New Bern on my website: www.NewBernHomes.com

Search ALL property listings in the New Bern MLS area:

Feel free to email me with any questions - I'd be delighted to hear from you!

Dianne, (charged and excited about 2009!)

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at www.NewBernHomes.com

HOMES SOLD (Closed), December 1 through December 31. (From NB Board of Realtors MLS System)
Under $100K = 6
$100K-$159,999 = 30
$160K-$199,999 = 10
$200K-$249,999 =14
$250K-$299,999 = 6
$300K-$399,999 = 7
$400K - $499,999 = 2
Over $500,000 = 4

Total December 2008 = 79
Total December 2007 = 119

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Happy New Year - State-of-the-Market!

Happy New Year, Everyone!

While 2008 has been a very challenging year for real estate and our economy, Eastern North Carolina continues to be a favorite place for relocation, retirees and second homes. For most of our out-of-state buyers, their biggest concern is selling their current home first.

Total Number of Homes Sold in 2008 was 1457, which is down 26% from 2007.

Total Days on the Market (average) went from 102 in 2007 to 151 in 2008.

While the "average" sales price for the entire MLS was +3%, several neighborhoods and areas have experienced depreciating prices.

We have a large inventory of properties on the market for sale, so it's definitely a Buyer's Market here!

View ALL New Bern Listings here! Or, contact our team

Dianne and Team

List Now? . . . or Wait til Spring?

Many prospective home sellers have asked that same question: "Should I list my house NOW? . . . or wait until Spring?

The answer really lies with the seller's personal goals. For example: Do you have definite plans to move soon? Is there a specific date for your business transfer? If there's no urgency, then it really doesn't matter.

However, if you need to move quickly, then consider these factors:
1. Inventory - How many other sellers are waiting until the spring? If you list NOW, you will have less inventory to compete with in March, April or May!

2. Motivated Buyers - Many buyers will often wait until spring to start their search, also. The buyers who are house-hunting through the holidays are serious buyers!

3. Interest Rates - Rates for home mortgages are currently at a 4-year LOW, so smart buyers are searching now!

4. Accomplish your Goals Now - When all is said and done, wouldn't you rather have your house sold by March or April and move on with your personal plans? By listing now, you are positioning yourself to accomplish your goals sooner than later!

5. Reverse Fear - While I don't buy into the media's doom-and-gloom, there's always a risk that the housing market could deteriorate more, instead of improving by the middle of 2009. By listing now, you avoid that extra layer of uncertainty!

View ALL New Bern Listings here! Or, contact our team

Happy New Year!
Dianne and Team

5 Reasons for Buyers to get off the Fence!

We are witnessing some great opportunities in the New Bern real estate market, that have not been seen for years! If you are one of those buyers who are "sitting on the fence", it's time to cross over and accomplish your goal. Why now?

1. Mortgage Rates are near all-time LOWS! One lender just quoted 5% for a 30-year fixed rate loan. Yes, rates may trend lower, but there's no guarantee for how long.


2. Large Inventory to Choose from! Our New Bern market has nearly 3x the inventory that we had a few years ago, so there's a great selection, and buyers are in a better position now to negotiate their best terms. As soon as the inventory starts to decline, negotiations will be more favorable to sellers.


3. Inspections: This is the time when sellers are more willing to negotiate for repairs or offer financial concessions for inspection items. When the market turns, there will be many more sellers who will not be as liberal with concessions. Why? There will be less inventory, and more buyers who are interested in their property.


4. Time of Year: Many sellers believe that activity falls over the holidays and winter season, so now is the time for "serious buyers" to act, to get their best terms!


5. Tax Credit, $7,500 for First-Time Buyers! ( See our prior post on this tax credit). Buyers have until June 30, 2009 to close on a property and take advantage of this incentive. Yes, it is an interest free loan but how often does that ever happen ?

No one has a "Crystal ball" to time the exact bottom of the market (wish we did!). However, I know from over 30 years of real experience that when the market turns around, it's generally quick, and buyers only recognize it as they chase the market back up!

View ALL New Bern Listings here! Or, contact our team for more information on how we can help YOU achieve your goals!

Wishing you all a Happy Holiday season and a wonderful New Year!

Sincerely, Dianne and Team

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), November 1 through November 30. (From NB Board of Realtors MLS System)
Under $100K = 8
$100K-$159,999 = 22
$160K-$199,999 = 18
$200K-$249,999 = 8
$250K-$299,999 = 4
$300K-$399,999 = 3
$400K - $499,999 = 0
Over $500,000 = 1

Total November 2008 = 64
Total November 2007 = 121

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Wishing you a very Merry Christmas and a Happy and Healthy New Year!

Sincerely, Dianne and Team

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), October 1 through October 31. (From NB Board of Realtors MLS System)

Under $100K = 15
$100K-$159,999 = 26
$160K-$199,999 = 23
$200K-$249,999 = 13
$250K-$299,999 = 6
$300K-$399,999 = 3
$400K - $499,999 = 4
Over $500,000 = 4

Total October 2008 = 94
Total October 2007 = 128

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE! Email Dianne (252) 636-3301 or Toll Free: (888) 781-8800

Local New Bern New - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), September 1 through September 30. (From NB Board of Realtors MLS System)

Under $100K = 16
$100K-$159,999 = 32
$160K-$199,999 = 22
$200K-$249,999 = 13
$250K-$299,999 = 13
$300K-$399,999 = 6
$400K - $499,999 = 7
Over $500,000 = 3

Total September 2008 = 112
Total September 2007 = 150

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE! Email Dianne (252) 636-3301 or Toll Free: (888) 781-8800

What Constitutes a Buyers' or Sellers' Market?

Several people have asked me “What’s constitutes a Buyer’s and a Seller’s Market?” With over thirty years of full-time real estate experience, I’ve witnessed this type of shifting market in the early 1980’s, and I’ve recently attended a seminar on this subject. Here’s a recap of the most common characteristics:

Sellers’ Market:
· Fewer properties on the market for sale.
· Multiple buyers bidding for the same property.
· Inventory consists of 4 months or less.
· Prices are driven up by the market.

Buyers’ Market:
· Many properties on the market for sale.
· Buyer’s have a wide choice of selection.
· Inventory consists of 6 months or more.
· Prices are driven down by the market.

When the current inventory takes an average of four to six months to sell, it’s considered a “Balanced Market.” This is a transitional period between the buyers’ and sellers’ market and is generally short-lived.

While condition and “staging” are always important with the sale of any home, it’s not quite as critical in a Seller’s market. Since the inventory is low, there are many more buyers who are willing use their imagination about replacing worn carpeting and repairing minor defects. They will view the property the way they want it to be. Pricing can be more liberal, due to the law of supply and demand.

In a Buyers’ market, pricing and staging are critical! There’s a large inventory to select from and buyers are looking for the best condition and the best bargain on price. Listing prices are either IN the market-range where buyers are viewing, or OUT of the market-range. If a property is OUT of the market-range, it will not even be seen by buyers, let alone receive an offer. The “market-range” is determined by properties which have SOLD over the past few months, not the current listing prices.

On the brighter side, if you’re a seller in this market and feel that you’re not getting the top price that you could have received a couple of years ago, you will also be a buyer in this same market, where you can generally negotiate for the best condition and the best price on your next home!

Search our NewBernMLS or feel free to contact me.

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), August 1 through August 31. (From NB Board of Realtors MLS System)
Under $100K = 13
$100K-$159,999 = 32
$160K-$199,999 = 26
$200K-$249,999 = 17
$250K-$299,999 = 18
$300K-$399,999 = 12
$400K - $499,999 = 5
Over $500,000 = 8

Total August 2008 = 131
Total August 2007 = 191

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"


For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), July 1 through July 31. (From NB Board of Realtors MLS System)
Under $100K = 14
$100K-$159,999 = 36
$160K-$199,999 = 26
$200K-$249,999 = 28
$250K-$299,999 = 12
$300K-$399,999 = 9
$400K - $499,999 = 2
Over $500,000 = 4
Total = 131

NEIGHBORHOOD PROPERTIES "SOLD"



NEIGHBORHOOD PROPERTIES "FOR SALE"


For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Huge TAX Benefits for 1st-time Buyers

The Housing and Economic Recovery Act of 2008 has some amazing benefits for first-time homebuyers. When was the last time someone gave you a $7,500 loan that has no interest, no payments for two years, and if you do not make enough when you sell, you do not have to pay the loan back? That’s what first time homebuyers will receive. If you know someone who wants to buy their first home -- this is too good to miss.

If you have not owned a home in three years, you are a first time home buyer. If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for a credit of up to $7,500 off your tax bill. It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500. So, if the home costs $65,000, your tax credit is $6,500. If the home cost $100,000, you would get a credit of $7,500. This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit. In other words, you take $7,500 off your tax bill. What if your tax bill is only $5,000? The IRS will send you the additional $2,500 as a refund. When was the last time the IRS sent you a refund because you bought something?

The loan has no interest, and will be paid back over 15 years. You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment. You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year. If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house? You pay the balance back at the closing. So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house.

What happens if you do not make enough money when you sell your house? They forgive the rest of the debt. In other words, get $7,500 now and pay back nothing if your house only breaks even at closing. When was the last time you got a loan on a speculative venture where the person who gave you the loan forgave the rest of the loan if you did not make enough profit on the sale?

The risk of loss in buying now is on the government. In other parts of the country where real estate is going down in value, you can lose 10% of the value of the home (up to $7,500) and the loss is covered by the fact that you do not pay back the tax credit.

Similarly, if you die before repaying the debt, the debt is forgiven. There are special rules for sales as a result of divorce, or if the government takes your property by condemnation.

There are restrictions on the amount of income that you can make and still get the credit. However, the restriction is $75,000 per year for a single person and $150,000 for a couple filing jointly, so the vast majority of people qualify. If you make more than that, you can still get some of the tax credit, but there are complicated rules about phasing out the credit as the income goes up. If you make that much money, you can afford to hire someone to figure out the formula. The restriction on the location of the property is minimal -- it has to be in the United States.

There are minimal restrictions on the financing. If you use a loan that is supported by mortgage revenue bonds, you do not get the tax credit. These loans are normally made by North Carolina housing agencies, but there are not many of them available, and the qualifications limit their use. In other words, nearly every loan allows you to get the tax credit.

What is the catch? You have to buy your first house in three years before July 1,2009, not be super high income, not use bond financing, buy anywhere in the US, Not too difficult, right?

If you know someone who wants to buy a home, call them. If they want to buy in the New Bern area, have them contact us and we will take exceptional care of them. If they want to buy anywhere in the US, contact us and we will find them an exceptional agent anywhere in the US. Toll Free: 888-781-8800.

The government gives tax credits to huge companies – here’s one for the little guy. Don’t miss it.

Thanks to Realtor/Broker Tim Burrell, Raleigh, NC for a full explanation of this new law.

State-of-the-Market in New Bern, NC

While I'm reading and researching the "State-of-the-Market" around the country (as it relates to real estate news), there are numerous statistics which give us a better perspective as to what's really happening and where.

According to Reuters and RealtyTrac, the following states have the highest foreclosure rates:

Nevada = 1 in every 43 households.

California = 1 in every 65 households.

Arizona = 1 in every 70 households.

Florida = 1 in every 78 households.

National average = 1 in every 600 households.

North Carolina = 1 in every 1000 households.

Foreclosures add inventory to the market, and increased inventory encourages price reductions, since it's the old "Supply and Demand" theory.

While North Carolina has also experienced an increase in foreclosures over 2007, we're fortunate that our statistics still remain well below the national average.

In fact, in the New Bern area (coastal NC), while we've experienced a 30% decrease in the number of home sales over the prior year, we still have maintained an appreciation rate of +.01%, which is much better than the US average of -6.8%.

View all homes for sale from the New Bern MLS service.

Parachuting Home Prices

After returning from a pleasant 6-day vacation on Ocracoke Island, NC (the southern-most island of the Outer Banks), I started perusing the real estate email-newsletters that I receive on a regular basis to see what's new over the last week.

While the distressed real estate market and the increased number of bank foreclosures seem to have taken over our local news over the past year, not all areas have been hit equally.

An analysist from PMI Mortgage Insurance Co. said that PMI projects a 40 percent or greater chance that prices will fall in 16 of the 50 largest areas during the next two years. All but three of those markets -- Las Vegas, Phoenix and Providence, R.I. -- are in California and Florida. They also said that the primary driver of the rise in risk scores was a continued increase in foreclosure rates, noting that California, Florida, Arizona and Nevada together represented 84 percent of the increase in foreclosures on homes with prime adjustable-rate mortgages during the first quarter of 2008. (Source: Inman News)

Fortunately for our real estate market here in Eastern North Carolina, while prices have not increased since the top of our market in mid 2006, we have only seen a slight depreciation rate on average, since that time.

To preview ALL properties on the market for sale in the New Bern area, just click on my website: http://www.newbernhomes.com/. We offer a tremendous amount of information to you for Free, and you can also sign up to receive notification about new property listings, as they come on the market!

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), May 1 through May 31.
(From NB Board of Realtors MLS System)

Under $100K = 18
$100K-$159,999 = 44
$160K-$199,999 = 20
$200K-$249,999 = 24
$250K-$299,999 = 10
$300K-$399,999 = 10
$400K - $499,999 = 5
Over $500,000 = 36
Total = 137

NEIGHBORHOOD PROPERTIES "SOLD"



NEIGHBORHOOD PROPERTIES "FOR SALE"


For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), April 1 through April 30.
(From NB Board of Realtors MLS System)

Under $100K = 12
$100K-$159,999 = 39
$160K-$199,999 = 24
$200K-$249,999 = 25
$250K-$299,999 = 9
$300K-$399,999 = 11
$400K - $499,999 = 3
Over $500,000 = 3
Total = 126

NEIGHBORHOOD PROPERTIES "SOLD"




NEIGHBORHOOD PROPERTIES "FOR SALE"


For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Have We Hit the Bottom Yet?

National Level:

Sales of U.S. existing homes rose slightly in February for the first time since July 2007. However, prices posted a record drop from their year-ago level, but economists said it was unlikely the market had reached a bottom.

The National Association of REALTORS recently said that sales of previously owned homes rose 2.9 percent in February. While the rise broke a six-month streak of declining sales, prices continued to slip. The trade group said median prices fell 8.2 percent from their year-ago level to $195,900. It was the biggest year-to-year drop on record dating to 1968.

On the State Level, according to the North Carolina Association of REALTORS, existing home sales during March continued to show signs of improvement compared to the previous month with a 15 percent increase in both total units sold and total dollar sales. Existing home sales remained low when compared to the previous year, however, with a 25 percent decrease in percentage of units sold.

Brunswick County and Wilson posted the highest year-to-date sales growth with a 12 percent and 6 percent increase. Washington-Beaufort continued to lead the state with the largest appreciation at 37 percent followed by Wilmington, Greenville and Fayetteville with a 30 percent, 8 percent and 7 percent increase, respectively.

On our Local Level here in the New Bern MLS, the number of home sales for March was down 36% from the prior year, and the average sales price was down 4%.

For more information on the New Bern market, visit my website at http://www.newbernhomes.com/ or email me!

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), March 1 through March 31. (From NB Board of Realtors MLS System)

Under $100K = 9
$100K-$159,999 = 39
$160K-$199,999 = 22
$200K-$249,999 = 21
$250K-$299,999 = 10
$300K-$399,999 = 6
$400K - $499,999 = 1
Over $500,000 = 4
Total = 112

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE! Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Solving the Home Pricing Puzzle!

The following article was published in RISMedia Real Estate News and Industry Trends, March 28, 2008, and discusses the emotional connection that most sellers have to their home. In light of our current shifting market, I wanted to share this with you since it addresses some very key points.

Solving the Home Sale Pricing Puzzle - 8 Considerations for Sellers:

Everyone naturally wants to get the most money for his or her product, but “sellers must not be hasty with this all-important decision,” cautions real estate expert Robert Jenson, founder and CEO of The Jenson Group. “Indeed, the most common mistake that causes sellers to get less than they hope for is listing the sale price too high.”

Jenson notes, “Listings reach the greatest proportion of potential buyers within the initial days and weeks after hitting the market. If a property is overpriced early on, it will be dismissed - or outright missed - by prospective buyers and may result in price reductions that will reflect poorly on the listing. Overpriced properties languish on the market, and most end up selling at a lower price than would have been realized had it been priced properly in the first place.”

To help would-be sellers foster maximum profits with their real estate transaction, Jenson offers these insights on the various elements that must be considered when establishing a fair, competitive and marketable sale price for a home:

1. Square footage: Total square footage is an important consideration when establishing a home’s sale price, but this is usually just a starting point for buyers who will use it to narrow down the field, but make an actual purchase decision based on many other factors. There are some general rules of thumb to know when considering a home’s price per square foot, such as smaller homes generally get a higher price/foot than large homes, and single stories will sell for a higher price/foot than a two story.

2. Location within community: Homes that back up to a busy street get, on average, 10-20% less than homes elsewhere in a neighborhood. Anticipate this type of obstacle and factor it into the original sale price to avoid inevitable price reductions down the road, which reflect poorly on the listing and will likely cause it to sell at a lower price than would have been realized had it been priced properly at the onset. Quiet cul-de sacs, golf or water frontage, lots that offer privacy are value adds that can certainly justify a higher sale price than other homes in a community - or be leveraged as an advantage against competing listings.

3. Views…or lack thereof: Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly. Just be realistic. A view that can only be had by standing on the counter from the second story looking out the window to the left simply doesn’t count, and it’s inadvisable to dupe a prospective buyer by adding this to the listing’s MLS description.

4. Upgrades and features: It’s a simple formula: upgrades = sold. For a home to sell quickly and for the price desired, it must be “finished” with as many structural and interior design upgrades as possible…and nothing’s too small to leverage in establishing a home’s price point. From crown molding to faux painting to door handles and cabinet handles/knobs with modern finishes, to more obvious upgrades such as appliances, window, counter, cabinet and floor treatments, to swimming pools and surround sound wiring…any functional or beautification enhancement to a home are considerations in establishing its true value and strategic sale price.

5. Community amenities: Guard-gated communities or those with amenities such as a clubhouse, swimming pool and/or fitness center are also elements that often raise a home’s price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value adds so that you can price your home as aggressively and competitively as possible.

6. Comparable sales: Price your home referencing sold comparables -price per square footage of other homes that have already sold in your community - up to 3-months old maximum, as looking beyond 3-months is simply not a realistic portrayal of current market conditions and may steer you in a wrong direction. It’s also as important to compare your listing to active competing listings - homes currently for sale, which is the best tool for honing an effective pricing strategy - particularly for highly motivated sellers.

7. Professional appraisal: Sellers often frown on the idea of paying for an appraisal before there’s even an offer on the table, but doing so is actually one of the most important things a seller can do in pricing a home relative to current market conditions. Want to sell the home quickly? Price it at or below the appraised value, since buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.

8. Current mortgage conditions: The current mortgage market has tightened its proverbial belt and many lenders now require higher credit scores coupled with higher down payments, which can cash strap a buyer who will most definitely be holding out for the best deal possible. Every seller naturally wants to get the most money for his or her product, but a savvy seller will understand the mortgage industry’s impact on the buyer and will price accordingly.

For more information on pricing homes, feel free to contact me at Email, or toll-free 888-781-8800. Website: http://www.newbernhomes.com/