Real Estate Tip, How should I price my San Diego Short Sale
Hi, I’m San Diego Short Sale Agent, Gary Kent and I’d like to share the following strategy on correctly pricing yourSan Diegohome or real estate for a successful short sale.
There are generally three ways to price your San Diego home for short sale. Some inexperienced agents will make one of two BIG mistakes. They will either price it too high for the amount of the loans. The other “wrong way” is to price it too low. Low priced listings will get lots of activities, but the bank generally will not sell too far below market (remember, they are not in business to lose money!). So, just like Goldilocks, we want to price your home “just right.”
What is “just right” pricing. It starts with carefully analyzing the market data, in the same way the bank’s appraiser will. After 28 years in the San Diego real estate market, we’ve sold over 4,500 homes and I’ve done thousands of Comparative Market Analysis reports (also called Broker Price Opinions – BPO). For the past six years, we’ve been doing thousands more BPOs for Banks, Fannie Mae, MGIC, Goodman Dean and many more Asset Man agement companies. So we have a pretty good idea of the price the bank is ready to see.
The next step is to aggressively market your San Diego Home with a price that is close to estimated Market Value and we let the market tell us if we are too high, too low or “just right.” If we are too low, we’ll negotiate with the offers to find the highest and best offer to take to the bank for them to consider. If it is too high, then we’ll step down the price about 2-3% every 2-3 weeks until we see an increase in activity and offers. We also document this for the bank so that they can see that we are at market value.
If you are concerned that you owe too much on your San Diego real estate, then please visit www.ShortOrStaySanDiego.com After answering a few questions you will receive a quick report on the value of your San Diego home or real estate and approximately how many years it will take for the property value to equal your loans.
Or, if you prefer to have a discreet conversation, please call me at 858-457-5368.
By Gary Kent
http://youtu.be/B1_96U7Sxp8
San Diego Real Estate Short Sale Expert, Gary Kent, gives his expert advice on short selling your home. In this video, Gary explains how to price your home for a Short Sale. For more information and tips about short sales please visit www.shortorstaysandiego.com
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By Gary Kent
San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.
To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com
The Gary Kent Teamof Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.
by Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and Google+.
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