Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I had a CMA done but I am wondering if I should have an appraisal done to see if list is in line with appraised value and CMA.
Do you base list off appraisal or just trust the CMA or between if they are different?
We had the CMA and an appraisal done. We wanted to be sure that we wouldn't find a buyer and then find that the bank would not approve it b/c maybe it would be low or high or whatever. I think it just covers your bases. Turns out the CMA AND the appraisal were within $1K and we are listed for $30K BELOW that b/c we want to sell fast. (And, we have been on the market for 5 months with a 1 year old townhome...so, I don't think selling fast always has to do with price...there have to be buyers in your area, lol!) ANyway, good luck. I tonly cost us $300 to get the appraisal and now I feel confident that WHEN we do have a buyer the bank will have no problem funding it.
Yes, she is marketing it that way...Right now there is a man looking at our townhome ($299K) and a neighbors for $365K! HUGE difference. Our home is larger, fireplace, 3 and a half baths, wetbar, hardwoods throughout...THe other place is smaller but is a end unit (differnt model as well...our model was the "highest end"), has a deck (we weren't there long enough to put one on), and has a better kitchen lay out. But the other house only has 2.5 baths and we have 3.5. We also have storage and they do not. But, the guy is leaning towards the other one b/c it "feels like home." SO, sound like an emotional buy thing. BUT, I am still thinking positive that he will realize he can save a bundle if he buys our home. Our realtor sent him the closing cost estimates for both homes and she has yet to hear from him. (she met with him on Sat) So, we will see.
IF he does go with the other home, I am wondering if we are listed too low. Is that possible? (it appraised at $330K)
Tell him you can wrap the price of a deck into your loan, you will put it on before closing, and he will still have equity in the house. You can put on a deck for $5k, so the cost of the deck would bring his cost to 304k, and he still comes out ahead... If that is keeping him from going with your property. I would try to find out his objections and see if you can overcome them. You definately have room with your appraisal!!!!
None of the above. Both work fine in a stable market but that's not what we have right now. My house is a good example:
2000 appraisal 388K
May 2006 CMA 439K listed for 425K-no sale reduced price to 399K-no sale
July 2007 appraisal 389K listed for 389K-no sale
If you really want to sell, try getting the CMA and taking off 10%. There are not enough buyers and the market is saturated. Your house has to be the best deal around. Good luck!
Yes, she is marketing it that way...Right now there is a man looking at our townhome ($299K) and a neighbors for $365K! HUGE difference. Our home is larger, fireplace, 3 and a half baths, wetbar, hardwoods throughout...THe other place is smaller but is a end unit (differnt model as well...our model was the "highest end"), has a deck (we weren't there long enough to put one on), and has a better kitchen lay out. But the other house only has 2.5 baths and we have 3.5. We also have storage and they do not. But, the guy is leaning towards the other one b/c it "feels like home." SO, sound like an emotional buy thing. BUT, I am still thinking positive that he will realize he can save a bundle if he buys our home. Our realtor sent him the closing cost estimates for both homes and she has yet to hear from him. (she met with him on Sat) So, we will see.
IF he does go with the other home, I am wondering if we are listed too low. Is that possible? (it appraised at $330K)
Highly doubt you are listed "too low" in this market.
Something doesn't jive. How is he saying the other one "feels like home"? Is it how its decorated (or am I way off base and he's past that).? Your's is bigger, way less money. Like shelly said, throw in $$ for the deck.
What is the real reason? Do we know all the facts here? I know an end unit is more desirable but what's your gut suspicion??
Highly doubt you are listed "too low" in this market.
Something doesn't jive. How is he saying the other one "feels like home"? Is it how its decorated (or am I way off base and he's past that).? Your's is bigger, way less money. Like shelly said, throw in $$ for the deck.
What is the real reason? Do we know all the facts here? I know an end unit is more desirable but what's your gut suspicion??
My guess is that this is either a second home buyer, a retiree, or a cash buyer. He's looking for just the RIGHT home. Price is secondary. There are some buyers out there for whom price is not the deciding factor - it's THE home they're looking for. You don't know how many times I hear, "I'll know if it's the home for me when I walk in the door." Unfortunately, it makes it very hard to narrow down the field for those kind of buyers, but when they find what they want, they jump on it. I don't want to be discouraging to twinmma, and maybe there's a way to "sweeten the pot" if it's something simple like adding a deck. However, it could just be the flow of the other home. There's not much you can do to compete with "It just feels like home". Twinmma's condo is already priced to sell. There's really not much more she can do. Staging may make a difference. You know how everybody loves model homes, but then they see the bare bones house and they're not nearly as in love.
Both homes are staged about the same and the flow...well, they are differnt in both. Ours has more of a single family flow. Very open, very large rooms. The other is chopped up a but. For example, when you walk in the other (I knwo b/c we looked at both when buying) you can either go through the front door or the garage. If you go through the garage you go up three steps and then down and are in the finished basement where there ia a half a bath. Then you go to the other side of the room and to get to the living room you go up about 10 steps and then turn and then go up about 5 more and are in the living room and dining room. Then you enter into the kitchen. The kitchen is more of an open layout...Looks larger but ours has more cabinets since it is a wide galley style kitchen. Theirs is just one wall since it is open. From the dining room, you look across and to get to the upstairs you go up about 10 steps turn and then about 5 more steps. Then you are upstairs.
So, you see, they have a lot of steps and my husband and I thought that was silly with having twins on the way. And we were moving from a single family to a townhome (due to relocation back to philly from upstate NY-huge price difference)
My gut...I don't know. The other townhome is VERY tall looking and to some that may look bigger. Ours is much shorter but wider and longer. Honestly, I think this guy is turned on by the granite in the kitchen(we have corian) and the built in surround sound. He actually did not like that we have a large laundry room on the 2nd floor. "Wasted Space" he said. (I don't think he is the one who does laundry, lol!) I do know his son and wife liked ours...WHo the heck knows. I don't think there is any other reason than he just feels more comfortable in the other home.
My realtor has yet to hear from that potential buyer. SO, maybe he is thinking things over. I don't think he owns another home...I think they were living in an apartment.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
