Luis Cano's Monterey County Real Estate Blog

Putting your home on the market isn’t as simple as placing a FOR SALE sign in your yard… Here’s the good news…there are several steps to take prior to listing your home that will make the transaction smoother and quicker.

STEP FIVE… Price it right. The original asking price of your home has a huge impact on the ultimate sales price. If you price it too high, buyers will look for better values and your home will remain on the market longer. The longer your home is on the market, the less desirable it becomes to buyers—even if you eventually lower your asking price—because most buyers will avoid a home that others are avoiding. Conversely, pricing your home too low may result in a quicker transaction but will yield you less money in the end.

Related articles

• The five biggest mistakes home sellers make (theglobeandmail.com)
• Don’t Get Carried Away Fixing a Home You’re Going to Sell (homeloans.org)
• Average Cost of a Real Estate Agent (brighthub.com)
• Tax Aspects of Home Ownership: Selling a Home (turbotax.intuit.com)

MISTAKE NUMBER 2. Making an offer on a home without being pre-qualified.

HERE’S HOW TO AVOID IT. Pre-qualification will make your life easier-take the time to talk with yor bank or mortgage representatives. Their specific questions with regard to income, debt and other factors will help you determine the price range that you can afford. It is one of the most important steps on the path to home ownership.

I got a couple of phone calls from past clients in the last 30 days, with questions about their mortgage payment increasing. On one, the reason was a Protection Plan He got for free for the first year, but after the first year, it would cost $78, + a Month. He called the lender to cancel it, and that is over. On the second we are still trying to find out why it went up by $8.00 Dollars. Worth noting that it is with the same lender (Bank of America)
If you have a similar experience, we would like to hear it!