Todd's Blog

Open House 267 WOODLAND DR , W MELBOURNE, FL 32904

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 18 Feb 2008 13:56:41 -0600

EXPLORE THE POSSIBILITIES! Immerse your end-of-day tension in a steamy jaccuzzi. Spacious 3 bedroom, 2 bath home with terrific curb appeal, spacious family room, and a view that feeds your soul. Simply sensational for grand entertaining. Best schools in the area. Enjoy the convenience of an eat-in kitchen. Secluded location. Easy to love!

From 192 turn north on Woodland (2 streets west of Evans/ Hollywood). house is on the west side of road.

View Virtual Tour Here!!

What Mold? In MyHome?

Todd Musolff (Keller Williams Realty of Brevard) — Sun, 11 Nov 2007 05:21:38 -0600

While they have their role in nature, molds are a most unwelcome sight indoors. And not are they only unsightly, but they can cause allergic reactions and other potential health problems.

Molds are fungi that reproduce by microscopic spores which float through air. Once a spore falls on a wet spot, it grows into a mold, spreads, and starts to churn out more spores. The more moisture is available, the faster the mold will spread.

Bathrooms and kitchens are the rooms most susceptible to mold because they are exposed to moisture the most. Damp basements are also fertile grounds for mold growth, as is anything that's been damaged by water (carpet or a wall, for example).

If you detect mold in your home, you must both clean it and treat the source of moisture. If you only remove the mold, but the moisture remains, the mold will reappear. Small affected areas (less than 3 feet by 3 feet) you can clean yourself with mold-killing cleaners or bleach solution (avoid direct contact with mold and always follow manufacturers instructions when using bleach or any other cleaning product). For areas larger than 3 feet by 3 feet, it is best to consult a professional.

Leaky pipes and leaky roofs can be especially problematic, and therefore should be repaired as soon as possible. Any areas permeated by water must be dried and cleaned within 48 hours to prevent mold from developing. Once mold penetrates any porous surface (like wood or carpet) it is nearly impossible to get rid of it, and you may need to replace the surface.

Of course, the best way for dealing with mold is to prevent it from developing in the first place. The key is to control moisture in your home. The humidity should be kept to below 60%, using a dehumidifier if necessary. Provide ample ventilation when cooking and taking showers. All moisture producing appliances should vent to the outside (for example, the dryer and the kitchen hood). Installing carpet in bathrooms and damp basements is a definite no-no. And, of course, any area that gets wet should be cleaned and thoroughly dried right away.

It is not possible to completely eliminate mold and its spores just like it is not possible to completely eliminate germs. But by keeping your home dry, and by keeping an eye to potential problem areas, you can keep its presence to almost zero.

Pricing Properties Properly

Todd Musolff (Keller Williams Realty of Brevard) — Sun, 11 Nov 2007 05:08:52 -0600

"How much can I get for it?" This is usually one of the first questions I am asked when meeting with prospective sellers for the first time. When I give them my answer, some sellers smile and some grumble. And they want to know how I came up with my estimate. Since agents (unfortunately) don't have a sixth sense that tells them how much a particular house is worth, they are forced to spend some quality time in front of a computer and create what's called a Comparative Market Analysis (CMA). This report will use cold, hard market data to pinpoint the most likely rangeof values that your home falls into. How does it work? A Comparative Market Analysis will compare your home to several of each of the following:

1. Active Listings - The homes that are currently available for sale will be your direct competition. Their sellers are vying for the same buyer that you are, so your asking price should be set accordingly.

2. Expired Listings - The homes that do not sell within their listing period are called Expired Listings (and their owners are called Angry Sellers). The three most common reasons for a home failing to sell are its condition, its location or, most likely, its price. Since the expired listings shown in your CMA must be comparable to your home (meaning, among other things, similar condition and location), it's their prices that will be of special interest to you - they will tell you what's too high.

3. Sold Listings - The only time you know the exact, precise value of a home is when it is finally sold. That's why looking at recently sold comparable homes is so useful - we know their exact value, so we can more accurately estimate the value of your home. The sales prices of recently sold homes are the best

indicators of what you can expect to get for yours. In order for the CMA to be accurate, the comparable properties (the "comps" in Realtor-speak) must really be comparable to your home. This means the same number of bedrooms and bathrooms, the same type of home (two-story, ranch, etc.), similar square footage, close in age, etc. They also need to be close by. As we all know, the location is super-important, so comparing two homes that are identical, but three miles away from each other, is quite silly. And in the case of expired and sold "comps," they must be recent- what a similar house nearby fetched last year tells you absolutely nothing about what your home is worth today. Of course, real estate is not always simple and straightforward, and many variables can complicate matters. For some properties it is not easy to find enough truly similar comps, so accurately estimating their value becomes tricky. Even when enough comps are found, the prices are not static-they fluctuate, even short term. And finally, so much in real estate is subjective-the buyer's perception of the home's curb appeal, décor, light, "feel"-that it's not at all unusual for two seemingly identical homes on the same block to command different prices. That's why working with a local real estate expert is so darn useful-your Realtor knows what's currently on the market and what recently sold, which way the prices are moving, and how different features of your home will appeal to buyers. This knowledge enables a good agent to create an accurate Comparative Market Analysis of your home so that you don't underprice it (and lose money) or overprice it (and not sell it). I wish I had the sixth sense that told me the exact value of each home. Until I develop one, preparing Comparative Market Analyses for my clients will have to do. And if you ever need one, I am just a phone call away.

How Big is My House Really?

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 22 Oct 2007 13:39:02 -0500

Q: I measured the square footage of the home I was buying, and it was totally different from what was advertised. What gives?

A: Measuring a home's square footage is not as simple as it sounds. There are a number of rules about which space can be counted and which can't. The basic rules state that, in order to be included in the square footage, the space must be (1.) intended for human occupancy, (2.) heated by a permanent heating system, (3.) have direct access to another living area, and (4.) it must have finished floors, walls, and ceilings. But there are special cases. Stairways, for example can be tricky. Bay windows, open foyers and rooms with sloped ceilings can be challenging, too. Additions done without a building permit may not be able to qualify at all. Because there are so many different rules, buyers, sellers and even real estate agents should not attempt to measure the home. This job is best left to a licensed appraiser.

Cocoa, FL Home for Sale: 413 Prospect Ave

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 22 Oct 2007 13:18:00 -0500

Exceptionally good value. Genteel living awaits you in this 3 bedroom, 1 bath home with city lights view, a cheerful bright sunroom, and beautiful colors. The owner has just installed new carpet. Don't wish when you can own...at $109,000. #488099

Virtual Tour Click Here.

Address: 413 PROSPECT AV Type: Residential Style: Single Story Bedrooms: 3 Bathrooms: 1 Size: 960 sq. ft. Lot Type: Rectangular Lot Size: 0.17 acres Taxes: $1,376.43 (2006) MLS: 488099

Interior Features

▪ Carpeted Floors

▪ Ceiling Fan

Cooling

▪ Central Air

Exterior Finish

▪ Concrete Block

▪ Stucco

Heating

▪ Central Electric

Roof

▪ Asphalt Shingles

Sewer/Water Systems

▪ Public

▪ Water District

View

▪ City Lights

Lot Features

▪ Patio

▪ Trees / Shrubs

Appliances

▪ Oven Range

▪ Refrigerator

▪ Washer/Dryer Hookup

Extra Features

▪ Cable Available

West Melbourne, FL Home for Sale: 267 Woodland Dr

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 22 Oct 2007 13:02:02 -0500

Virtual Tour click Here.

Address: 267 Woodland Type: Residential Style: Single Story Bedrooms: 3 Bathrooms: 2 Size: 1,786 sq. ft. Lot Type: Rectangular Lot Size: 0.19 acres Year Built: 1968 Taxes: $807.99 (2006) MLS: 488094

Interior Features

▪ Carpeted Floors	▪ Ceiling Fan	▪ Hot Tub / Spa
▪ Laundry Room	▪ Wet Bar

Cooling

▪ Central Air

Exterior Finish

▪ Concrete Block

▪ Stucco

Heating

▪ Central Electric

Roof

▪ Asphalt Shingles

Sewer/Water Systems

▪ Public

▪ Water District

View

▪ City Lights

Lot Features

▪ Deck	▪ Fenced Yard	▪ Landscaped
▪ Trees / Shrubs

Appliances

▪ Dishwasher	▪ Microwave	▪ Oven Range
▪ Refrigerator	▪ Refrigerator - Bar

Extra Features

▪ Cable Available

▪ Covered Parking

▪ Underground Sprinklers

Price Reduction- Outstanding buy

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 15 Oct 2007 05:15:09 -0500

2505 NE Hamlin, Palm Bay, FL 32905 Home for Sale!!!

The perfect home. This meticulously maintained 3 bedroom, 2 bath home boasts roomy 2-car garage, kitchen with eating space, and gracious formal dining room. The style you love at a price you can afford. An outstanding buy at $209,540. Home is near many neighborhood Landmarks, around the corner from Harris Corp, minutes from Palm Bay Community Center, and very close to Turkey Creek sanctuary.

Address: 2505 NE Hamlin Type: Residential Style: Single Story Bedrooms: 3 Bathrooms: 2 Garage: Double Size: 1,857 sq. ft. Lot Type: Rectangular Lot Size: 0.34 acres Year Built: 1979 Taxes: $3,176.17 (2006) MLS: 482388

Interior Features

▪ Carpeted Floors

Cooling

▪ Central Air

Exterior Finish

▪ Concrete Block

▪ Wood-Stucco

Heating

▪ Central Electric

Roof

▪ Asphalt Shingles

Sewer/Water Systems

▪ Public

▪ Well

View

▪ City Lights

Lot Features

▪ Corner Lot

Appliances

▪ Microwave

▪ Oven Range

▪ Refrigerator

Extra Features

▪ Underground Sprinklers

Virtual Tour: Click Here

Camping: Fun For the Whole Family

Todd Musolff (Keller Williams Realty of Brevard) — Sun, 07 Oct 2007 07:35:39 -0500

Ahh, the great outdoors. Sitting around the camp fire, roasting marshmallows, and spending time with your family. Camping can be a lot of fun, and now is a great time to try it before the summer is over. If you've never been camping, here are a few tips:

Selecting Location

For your first camping trip, it's a good idea to pick a location that's not too far from home. Finding a campground should be easy. Most of the campgrounds on public land are listed on the web site recreation.gov. This site allows you not only to find camping, but also to check availability for specific dates and make reservations. Of course, you don't have to limit yourself only to the

g o v e r n m e n t - r u n campgrounds; there are plenty of private ones out there too. Stores that sell camping equipment have local guide books that can give you ideas where to find them, or you can search on the internet.

Stuff to Bring

Food should be the first thing on the list. Bringing enough food means you won't be that camper who had to run to the convenience store three times a day for every meal. For your first outing it's good idea to keep the menu simple, and plan for meals that are quick and easy to make. As far as camping gear goes, the web site FamilyCampingGear.com has a useful checklist of the things you should bring with you. But please remember that it's not necessary to buy a lot of stuff for your first trip. Use what you already have, and consider borrowing a few items from a friend or renting them from a store that sells outdoor gear. This way you will avoid spending a lot of money on something, only to find out later you don't really need it. After you get a couple of camping trips under your belt, you will be in a better position to decide what equipment it's worthwhile buying.

Kids

If you are worried about your kids being bored on a visit to Mother Nature, look for a location that has something to keep them active. For example, look for a campground that has hiking, horseback riding, a beach, or something similar. Bring a ball for a quick game of soccer, football or baseball. Or get your children involved in creating their own trip journal! They can collect small mementos (dry leaves, flowers, shells) to place in the journal, along with photos or crayon drawings of things they see. It's a nice activity for the whole family, and it will help keep them busy.

Know the Rules

While each campsite has a set of rules that you should familiarize yourself with, there are

some universal ones. It should go without saying that leaving trash is a big no-no. Walking across someone else's campsite is also a no-no as every camper wants as much privacy as they can get. Keeping your pet under control and cleaning up after it is also expected. When it comes to firewood, at many campgrounds you are expected to bring your own as opposed to collecting it on site. And most campsites have quiet hours, and observing those hours helps everyone enjoy their time in the camp more.

Enjoy!

Camping is all about breathing fresh air, having fun, learning about the outdoors and

meeting new people. I hope this short article gave you a few ideas on how to plan your next camping

adventure

This publication is for informational purposes only and does not constitute legal or financial advice. All information was obtained from sources deemed

reliable, and while I do not doubt its accuracy, I cannot guarantee it. If your property is listed with another broker, this is not intended as a solicitation.

Agent Office vs. Top Producer 7i

Todd Musolff (Keller Williams Realty of Brevard) — Wed, 03 Oct 2007 04:08:30 -0500

I have Been using Microsoft Outlook to run my business up to this point and have been fine with scheduling tasks an appointments manually.

As my business grows I am looking to make to process more automated by using software that is real estate specific (i. e. agent office or top producer). I was wondering if there was anyone that has used either or both that could give a comparison.

Hoping to get the biggest bang for my buck, so to speak.

Thanks!

Maximizing Kitchen Storage on a Minimal Budget

Todd Musolff (Keller Williams Realty of Brevard) — Tue, 02 Oct 2007 13:21:03 -0500

No matter how big a kitchen is, it never seems big enough. The number one complaint is the lack of storage space. But, you don't have to break the bank to solve this problem. Here are a few economical ideas for adding storage space and simplifying your life:

1. Rollout shelves are a growing trend in kitchen storage and for good reason. All too often things can get "lost" in the dark depths of cabinets, and much of the hard to reach space is wasted. A drawerlike shelf allows you to utilize your cabinets more efficiently and more conveniently. Oh, and they are not very hard to install.

2. A spice rack installed on the inside of a cabinet door at eye level is a simple way to organize your spices and keep them from cluttering up your cupboards. Or store your spice containers horizontally in a shallow drawer near the stove. This keeps them easily accessible and they are not taking up valuable countertop or shelf space.

3. If you have a big enough kitchen, adding a center island can be a great way to add more storage space. Not enough room for it? Consider replacing your kitchen table with the more versatile island-the top can serve as the eating area or work area, and the bottom, of course, for storage.

4. Baking sheets, cutting boards, pizza pans, or anything thin or shallow is best stored vertically. Install vertical dividers in a lower cupboard for convenience and easy access.

5. Organize according to frequency of use. Keep frequently used things within an easy reach and near areas where you use them. Seldom used stuff can be stored on top shelves, or even in another room (empty chest or armoire in the living room maybe?).

6. Use Tupperware-style stackable containers for dry goods. The original packaging is usually too bulky and takes up too much space.

7. Install a pull-out storage tray behind the false drawer in front of your sink. Sure, it's narrow and can't hold a lot of stuff, but it can keep frequently used utensils from cluttering up your countertop.

8. Get rid of some stuff. Just like you go through your closets once a year and sell or donate clothes you no longer need, "unloading" unneeded kitchen things will free up space for more useful stuff.

8 Quick and Useful Household Tips

Todd Musolff (Keller Williams Realty of Brevard) — Tue, 02 Oct 2007 13:10:05 -0500

That picture is always crooked...

Remove it from the wall. With a glue gun firmly in hand, shoot small dots of glue on the back of the frame at the lower corners only. When the glue has dried completely, re-hang the picture. The rubbery dots will hold it in place and your frame will be "picture perfect".

The writing's on the wall...

And, if it's in Crayola, no problem! Try WD-40, the "great eraser". Spray it lightly on the unwanted art, and then gently wipe it away with a paper towel. Any remaining traces of color can be removed using a soft, white cloth moistened with baking soda or diluted bleach.

The cabinet knob keeps falling off...

It's clear fingernail polish to the rescue! Just brush a drop or two on the threaded end of the knob and screw it back into place. Once the polish dries, the knob will be set for life.

Got a zipper with an attitude problem...

Run a bar of soap over its teeth a couple of times and it should open and close like a charm.

Ring(s) around the coffee table...

Wet glasses leave white rings, which are easily removed with a mixture of equal measures of baking soda and regular white toothpaste (not gel). Using a soft, clean, white cloth, gently buff the stain with this mixture and then wipe it off with a wet sponge. Oh, don't forget to add "coasters" to your next shopping list!

A light bulb breaks away from its socket...

First, unplug the lamp or turn it off at the wall switch. Carefully guide a pair of needle-nose pliers down inside the breakage, open them up so they press firmly against the sides of the bulb's metal base and then twist counter-clockwise until the entire assembly comes out. Gloves are recommended and so is a container to hold the broken glass and metal.

Garbage disposal has a "special" aroma...

Here's the sweet and sour solution. While it's running, pour in two cups of white vinegar and then rinse thoroughly with water. Gently grind in some lemon, sweet lime or orange slices and leave overnight. In the morning, it will smell like a garden of heavenly citrus.

Chewing gum in the carpet...

Gum removal is a two-step process. First, put a few drops of dry cleaning solvent on the gum (easy does it!) and gently dab it away with a sponge. Then add one tablespoon of mild detergent to one cup of warm water. Mix well and apply gently to clean up any sticky stragglers.

This publication is for informational purposes only and does not constitute legal or financial advice. All information was obtained from sources deemed

reliable, and while I do not doubt its accuracy, I cannot guarantee it. If your property is listed with another broker, this is not intended as a solicitation.

552 SE Wedge Ct, Palm Bay, FL 32909. Home For Sale!!

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 01 Oct 2007 12:20:16 -0500

Plant your roots here. You'll love the layout of this 3 bedroom, 2 bath home with fabulous landscaping that creates your own private retreat, the convenience of modern appliances, and safe storage for your his and hers BMWs. This house is better than new. Convenient to everything. You'll feel like a king with this prince of a deal! $199,900.

Address: 552 SE Wedge Ct. Type: Residential Style: Single Story Bedrooms: 3 Bathrooms: 2 Garage: Double Size: 1,524 sq. ft. Lot Type: Rectangular Lot Size: 0.1 acres Year Built: 2002 Taxes: $2,007.82 (2006) MLS: 477084

Interior Features

▪ Alarm System

Appliances

▪ Dishwasher	▪ Dryer	▪ Garbage Disposal
▪ Microwave	▪ Oven Range	▪ Washer

Exterior Finish

▪ Stucco

Cooling

▪ Central Air

Roof

▪ Asphalt Shingles

Heating

▪ Central Electric

View

▪ Water View

Sewer/Water Systems

▪ Public

Virtual Tour: Click Here

2505 NE Hamlin, Palm Bay, FL 32905 Home for Sale!!!

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 01 Oct 2007 10:38:58 -0500

Interior Features

▪ Carpeted Floors

Cooling

▪ Central Air

Exterior Finish

▪ Concrete Block

▪ Wood-Stucco

Heating

▪ Central Electric

Roof

▪ Asphalt Shingles

Sewer/Water Systems

▪ Public

▪ Well

View

▪ City Lights

Lot Features

▪ Corner Lot

Appliances

▪ Microwave

▪ Oven Range

▪ Refrigerator

Extra Features

▪ Underground Sprinklers

Virtual Tour: Click Here

Getting the Mortgage You Deserve

Todd Musolff (Keller Williams Realty of Brevard) — Mon, 01 Oct 2007 10:13:50 -0500

They say it pays to be an educated consumer. That couldn't be more true than when shopping for a mortgage. Accepting subprime when you qualify for prime can cost more than $300 per month on a $200,000 loan. Ouch! This costly scenario occurs because mortgage brokers can make more money from selling subprime loans than they can from prime, and that incentive can tempt them to offer you less than your credit deserves. What can you do to make sure that doesn't happen? Your best defense is offense: Learn what you need to know before shopping for a loan.

ABCs of Loans

What is a subprime loan and what makes it less desirable than prime? A subprime loan is a loan that is granted to consumers who don't qualify for conventional loans, possibly because of less-than-stellar credit histories or high loan-tovalue ratios. Rates on subprime loans are usually higher. They may include excessive origination points (what the lender charges up front; each point is typically calculated at one percent of the loan amount.) There may be higher than average prepayment penalties, which often come as a surprise to borrowers when they sell a home or try to refinance.

Credit History

It's always a good idea to review your credit report on an annual basis, but even more so when applying for a mortgage. You can order a copy of your credit report from Equifax, Experian and TransUnion via the Internet. If there are issues on your report, do what you can to get them cleared before obtaining a loan. Ask lenders how your credit history affects the price of your loan and what you would need to do to get a better offer.

Shopping Around

Most consumers aren't aware that lending requirements differ from one loan source to another. Just because lender A says your financial circumstances only qualify you for a subprime loan doesn't necessarily mean that lender B will agree. You may be surprised to find that their requirements allow them to offer you a better product. Don't fall for the first sales pitch; a better loan may be available. And don't be afraid to negotiate.

Fine Print

Reading the fine print on a loan offer can be tedious, but a loan for the purchase of a home can be the biggest financial transaction you'll ever make, so it's worth it to examine the numbers and ask for an explanation of all the fees and conditions in the offer.

Right to Cancel

Most loans include the right of rescission, meaning that you can cancel the loan after signing if you do so within 3 days. If you realize you've made a mistake, you have the right to get out of it within that period of time. All of these tips can save you a tidy sum over the life of a loan, so make sure to get the loan you deserve by becoming an educated borrower.

This publication is for informational purposes only and does not constitute legal or financial advice. All information was obtained from sources deemed

reliable, and while I do not doubt its accuracy, I cannot guarantee it. If your property is listed with another broker, this is not intended as a solicitation.

Bob Gets Duped by the PriceWizard

Todd Musolff (Keller Williams Realty of Brevard) — Sun, 30 Sep 2007 08:19:17 -0500

Bob decides to sell his home. After living in it for years, Bob knows he has accumulated a good deal of equity. The property values have gone up, his mortgage balance has gone down, and Bob has made several home improvements that he knows will increase his home's value. Bob also knows how much his neighbor's home sold for last year, so Bob feels pretty confident that he knows what his home is worth. Like many sellers, Bob schedules appointments with several Realtors to discuss listing his house.

Each agent brings a sales presentation and a Comparative Market Analysis - an estimate of the home's value. But Bob is dismayed when several agents suggest that his home is worth less than he thought! Sure, they back up their numbers with a list of similar homes sold recently, but Bob knows he can get more. Fortunately, an enlightened agent shows up at last. He agrees with Bob's estimate! Heck, he even says it's worth more! And he says he will have no trouble getting Bob that price. Excited, Bob lists his home with the PriceWizard.

Congratulations Bob, you just fell for a dubious sales tactic known as Buying a Listing. What Bob does not realize is that PriceWizard actually knows that Bob's house is not worth the asking price. But PriceWizard understands that the easiest way to get Bob's listing is to agree with Bob. After the house sits on the market unsold for over a month, PriceWizard knows that he can talk Bob into lowering the asking price. The trouble is, the longer Bob's house is on the market, the less interest it will generate among buyers. And after it has been on the market for too long, buyers will conclude that there must be something wrong with it, and offers will become lower and lower. Poor Bob will end up selling his house for less than he could have if he priced it correctly in the beginning. If he only listened to those Realtors who told him the truth...

Why did PriceWizard dupe Bob? For the commission - to beat the other agents who wanted to earn Bob's business the honest way. Why did Bob fall for it? Because he was stubborn. And perhaps greedy. So, how can you avoid falling for the PriceWizard's trick? It's simple - don't pick an agent based on the price he or she recommends. Instead, choose an agent based on his or her reputation, ability, and knowledge. Someone who knows your area, can show you a solid sales plan for listing your home, and who backs up his or her recommendations with facts. Once you pick a Realtor you like and trust, then talk about the price. An honest agent will help you get more money for your home than any PriceWizard ever could.

This publication is for informational purposes only and does not constitute legal or financial advice. All information was obtained from sources deemed

reliable, and while I do not doubt its accuracy, I cannot guarantee it. If your property is listed with another broker, this is not intended as a solicitation.

Let's Start With a Higher Price? Let's Not.

Todd Musolff (Keller Williams Realty of Brevard) — Sun, 30 Sep 2007 08:04:18 -0500

It's no secret that the real estate market is not exactly what it was last year. Thing shave slowed down; there are fewer buyers looking, but still quite a few homes for sale. So now may be a good time to revisit one of the ever-unpopular real estate subjects - how to set the listing price. Or rather, how not to do it. Why? Because the price is the number one determining factor of whether the home will sell in a timely fashion or even sell at all.

Sellers don't like to hear what I'm about to say, and some agents don't like to bring it up. But I'm all about being upfront with my clients, so here goes: the market sets the price of the home, not the seller. What I mean by this is that the seller can't expect a buyer to show up and pay more than the home's current value. "I need to net X amount of money from this sale," is not a good reason for the buyer to agree to a higher price. "So-and-so's home sold for this much last year, so mine is worth the same." The buyer doesn't care. "I spent this much for all the upgrades, so that justifies my higher asking price." Not really. Your house can't sell for more that what the current market will bear, and everything else is far less relevant. Ignore the market, and buyers will ignore your house.

Is it denial or belief in miracles that makes some sellers think that, despite what the data shows, someone may still show up and pay the overblown price? I'm not sure, but I frequently hear something like this: "OK, let's start with the higher price, and if we get no bites we'll lower it later." Oh, how bad this idea is. Any agent who's been in the business for more than two weeks can tell you that the most activity a listing will get is when it first becomes available. All the buyers that are in the market right now will take a look at it, either in person or just on the MLS printout their agent gives them. If they determine that the seller's price is unreasonable, they'll move on and go look at other houses. The seller adjusts the price six weeks later? Too late. The buyers have already crossed this house off their list and they won't look at it again. Why? Because they've forgotten why they crossed it off. "Didn't we look at this one already? I can't remember, but we've already ruled it out for some reason. Plenty more to look at, so just forget it." All the seller can hope for now is attracting new buyers that are just starting to look. And that's a lot fewer people than number of people already looking.

What ultimately happens in the "lets start high and adjust later scenario" is this... The seller eventually lowers the price to what it should have been all along, but still no one bites. The seller, starts to get nervous, and maybe offers an incentive or two. Still no bites. Now the seller has lost a lot of time, and starts to get desperate. Whatever event that prompted the sale (new job, family situation, etc.) is really putting the pressure on the seller. And the buyers start to sense this. And now low-ball offers start to come. What do you think happens next? Either the home sells for less than it should have, or the seller gives up in disgust and decides to wait for a better time. Neither outcome sounds particularly good as far as I'm concerned. So what's the point I'm trying to make? If the price is right the home will sell. If it isn't then it won't. It's that simple really. And with the market being the way it is, careful pricing is now more important than ever.

Want to know what your home is worth

in today's market? Just give me a buzz

or shoot me an e-mail. I'll provide you

with a professional market analysis

based on the latest available data at

absolutely no cost and no obligation.

"Free with no obligation? What's the

catch?" No catch. I'm your local

Realtor, and that's what I do. ☺

This publication is for informational purposes only and does not constitute legal or financial advice. All information was obtained from sources deemed

reliable, and while I do not doubt its accuracy, I cannot guarantee it. If your property is listed with another broker, this is not intended as a solicitation.

As a seller, how can I be sure the buyer can really get the loan?

Todd Musolff (Keller Williams Realty of Brevard) — Sat, 29 Sep 2007 12:19:52 -0500

Q: As a seller, how can I be sure the buyer can really get the loan?

A: Although there is no 100% guarantee, your best bet is to ask for a pre-approval letter. To issue a preapproval, the lender will check the buyer's full credit report, look for any discrepancies or potential red flags, verifiy his or her employment status and income, and then, if everything looks OK, pre-approve the buyer for a specific loan amount. Now, there is another piece of paper with a similar-sounding name, called a "pre-qualification" letter. To get "pre-qualified" the buyer only verbally tells the lender what his/her income and debts are. The lender then checks a par tially complete credit report and nothing else. Since nothing is verified, and the full credit report is not checked, the "pre-qualification" letter is pretty meaningless. Therefore, insist on getting a pre-approval letter. Sure, it's not bulletproof, but it's the next-best thing to being offered cash.

What is Title Insurance and Why do I need it?

Todd Musolff (Keller Williams Realty of Brevard) — Sat, 29 Sep 2007 12:05:25 -0500

Q: What is title insurance and why do I need it?

A: Abraham Lincoln lost his home twice due to problems with the title. The purpose of title insurance is to help you avoid the same fate. Simply put, it insures you and your lender against errors or potential problems with the ownership documents of your home. For example, if someone was to claim to be the rightful owner of your home, the title insurance protects you against possible loss or damages. Two types of title insurance are available. The lender's policy protects only the lender from title defects, liens or judgments. The owner's policy protects the buyer against the same problems, and can be expanded to cover additional title risks, such as unrecorded liens. A lender's policy is required in order to obtain a mortgage. An owner's policy is not, but since it's only slightly more expensive than the lender policy, buying it is certainly not a bad idea as it gives you added peace of mind. Have a tough real estate question?

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Defects found on inspection?

Todd Musolff (Keller Williams Realty of Brevard) — Sat, 29 Sep 2007 11:50:38 -0500

Q: I am selling my house; the inspection has revealed several defects that I am not willing to repair or pay for. What are my options?

A: When a property inspection reveals defects, buyers typically request that the seller repair them within a certain deadline. As a seller you have several options: agree to make all the repairs, agree to make some but not all, refuse to make any repairs, or ask the buyer to share some of the cost of the repairs. Ask yourself, are the buyer's demands reasonable? If you were the buyer, would you want those repairs made? It is okay to negotiate. However, keep in mind that once you become aware of a problem, you are required to disclose it to other prospective buyers should the transaction fall through and you place the house back on the market. Therefore, unless a buyer's request is unreasonable, it is advisable to try to find common ground with them.