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2/17/2010 Watching the Olympics
How can you not like the Olympics.  Athletes at the top of thier sport, doing what they love. Specialists, each and every one. 

When selling your home, you need specialists too.  Hire a team of specialists: a listing agent who can read the market to advise on pricing and contracts; a professional decorator to stage your home so that it shows like a model home; a professional photographer who can photograph your home and put together a great virtual tour; a closing coordinator to make sure that nothing slips through the cracks from contract to close.  Don't settle for an individual agent that is a jack of all trades. Hire a team of specialists to get your home sold. Call us at 915-231-9994 and we'll show you how we use specialists to get the job done.
2/17/2010 Months of Inventory

Data taken yesterday from the Greater El Paso Association of Realtors indicates that we still have over seven months supply of homes on the market.  This varies widely by price range, but overall it is still a buyer's market when you look at year over year sales. 

When you look at the last three months, the months of inventory numbers jumped to nine.  In visiting with other agents, mortage loan officers, and builders, most agree that many sales were shifted from the first quarter of 2010 to the last quarter of 2009.  Total inventory eased up just a bit to 3402 new and resale housing units available.  This does not include lots. 

The good news is that we still have 72 days left for home buyers to qualify for the tax credit.  First time home buyer can receive up to $8,000 in tax credit while move up home buyers can receive up to $6,500.  You must be under contract by April 30, 2010.  Call me today if you would like further details about the tax credit.  It is a great time to purchase a home.
2/1/2010 The Four Things Needed To Sell in Today's Market
I was reviewing a number of expired listings (homes that failed to sell) in the MLS a couple of days ago.  I was suprised to see that out of the 25 homes that did not sell, most probably could have sold with a few changes beginning with access.

Access:  If you have your home on the market or are considering it, make sure that buyers have access throught thier agent.  Out of the homes I studied, the showing instructions on ten of the homes stated 'appointment with owner' but did not have a telephone number for the seller.  Eight stated 'key in listing office'.  This means that an agent must drive to the listing agents office to pick up a key.  This is not always possible or practical - especially if the office is across town from the buyer's agents office. Four stated 'appointment with  listing agent'.  This is challenging because you have to get four busy people to agree to a time - the buyer, the buyer's agent, the seller, and the seller's agent.  Again, not practical. The final three were 'vacant on lock box' which is fine.  The lesson is that if you want to sell, make your home available to the buyers.

Condition:  You have to win the beauty contest.  Today's buyers have been conditioned to expect 'move in ready' homes at a great price.  You hear this in the news, you see it on TV and we hear it when we are showing homes.  Clean, declutter, paint, make it smell good.  For occupied homes, staging is a must to win the beauty contest - and it pays off by helping your home sell faster as long as it it priced right.

Price:  You have to beat the competition.  After spending seventeen years in the grocery business, I learned that rarely do you control your pricing - your competition does.  If you want a product to sell, you have to beat your competition.  The principle of substitution is at work in the real estate market.  If a buyer can find a home with equal, or perceived equal, amenities for a lower price, the one with the lower price will sell first.  To win the price war, you have to beat the competition.

Agent - to get homes sold, you have to have the right agent that can help you with the other three - Access, Condition, Price. 
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RE/MAX of Texas | Patrick Tuttle, RE/MAX Real Estate Group | 5915 Silver Springs Bldg 5, El Paso, TX 79912 | (915) 581-3700 | Contact Me by E-mail