Short Sale/Foreclosures affect all Homeowners

A conversation that I had with a seller a few days ago led me to believe that a lot of people out there don't realize that short sales and foreclosures affect them as well. This homeowner trying to sell their home said that "We're not selling short sale or foreclosure so I don't have to price our home that way." What this person isn't aware of is, that whether we all like it or not, this does affect everyone's home values, including those not looking to sell their home. This affects those that are are trying to refinance or get a home equity loan.

It's important when selling one's home that it is priced "in the market" not "out of the market". Meaning that if it is priced too high (out of the market) it will not sell. Even if one is looking at the prices of their competitors. It's most important to look at the 'sold comparables'. That is what an appraiser is going to look at to put a value on a home.

Realtors do have access to this information to help put a value on a home. We do look at the sold, active listing comparables as well as under contract. We put all of this information together to help put a value on a home.

If anyone would like a free Comparative Market Analysis of their home please just call or email me. I will give you this information to help you know where the value of your home stands.

Thanks,

Becky