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Cheap Computer Guy highly recommends this work-at-home ebook written by four work-at-home moms.

by Mike Carraway, Access Realty, Birmingham, AL

A LOT of sellers want to price their home above the market value and they do it for a variety of reasons...

Some say they want to have "negotiating room". Some say, "we can always come down later". And others say, "we just want to see what we can get - you know - test the market."

Theses are all good reasons from a seller's point of view. They aren't, however, from a property marketing standpoint. When you put a property on the market, you want to generate the highest traffic and demand in the shortest time possible and all of these so called reasons to overprice just hinder and impede the marketing process.

Danger #1

Pricing a home above the market value usually results in people going elsewhere and buying. They may love your home but if you have a similar product in your market for a lower price, they'll buy it - not yours. In effect, you have missed your buyer and now you will have to wait and attract another one at a later date.

Danger #2

Traffic and lots of it is what sells a home. Without human bodies walking through your home, it doesn't matter if it's the best deal around or the most beautiful in your neighborhood - it still won't sell. In order to get the most traffic possible in the shortest time, the price must be right from the very beginning. If the home is priced very near what you actually think it will sell for, you will get the most traffic - and offers.

Danger #3

Your home will sit on the market while YOUR buyers go buy other homes. You will have lower traffic due to the higher price and fewer people will be exposed to it. What happens when you finally decide to lower the price? People see the price reduction and it causes a couple of thoughts...

1) I wonder how much further down they will come?
2) I wonder if something is wrong with it?
3) I wonder how long it's been for sale?

Just these three will cause you more suffering from low offers and constant questions about whether you will carry part of the financing or not. You will soon grow tired of it.

The best way to avoid ALL of these problems, especially in a buyers market as we are in right now, is to price your home AT the market. Not a little over but right at the market value.

Want a secret? Price your home slightly UNDER the market value. You will have people fighting over it and will probably receive multiple offers. When you do - you can actually start a bidding war of sorts over your home and may even realize MORE than the market value.

by Mike Carraway, Broker, Access Realty, Birmingham, AL 800-840-0165

I guess it's now official. The real estate bubble has burst. When the inventory figures for homes show they are going up nationwide AND it's in the national media, you can be sure that it's already been happening for a few months now. The NY Times and Jouranl and just about every other news outlet decided today that it was a story - so I guess it's official.

Those of us in the real estate business have known it for the last 3 months and we could have told you so. We have sales figures and "time on market" statistics that can back up our claims. We have been telling successful sellers what's happening and how to price their homes accordingly. Now - 3 months later, the media is catching on.

The story is that the supply of homes on the market is rising and the number of buyers isn't. What that means to you is that your home will sit on the market longer without selling. In fact, two of the articles I've read state simply that it would take over 6 months to sell all the homes currently for sale. What they leave out is that more homes come on the market every day, further increasing the glut.

As the number of homes on the market increases, it takes further price reductions to get some of those homes to sell quicker, which, in turn, lowers the reflected market price of all homes. Sellers will wait and wait and then lower their price - too late. What they don't realize is that they are chasing the market down.

The market price of their home goes down and then they lower their price just above the market price and wait. While they wait, the market price goes down further, putting them farther and farther away from the market value, until they lower the price again.

So, as a seller, what should you do right now?

Simple, lower your price to a point that is BELOW the current market value. Ask your agent to take some time and do a good market analysis to get a feel for what your home is worth right now. Then, price it below that number. If you do this, you will have hungry and willing buyers lining up to make offers on your home... but only for a short time in a falling market. If you wait too long, and the market coninues to drop, then you will be priced above the market again and have to reassess the situation.

The smart thing to do is price your home low and let the market come to you, rather than chasing the market down. One strategy results in buyers, the other results in foreclosures. But you have to decide which strategy to persue.

By Joe Klock, Sr.

Real estate analysts (and what American is not among them these days?) tend to survey the sea of sale signs in most areas and join the gloomy headline writers who conclude that there are not enough ready, willing and able buyers in the market place.

Not so, gentle reader! The shortfall is among sellers, of which there are relatively few treading water in the aforementioned sea.
"Whoa, Nellie!" you might exclaim (ignoring the by-line clearly displayed above), "any fool, including the by-lined fool, can see that it's buyers that are now in short supply."
In so doing, you might cite the hordes of hungry house-hunters who roamed the house-hunting roadways during the many months of a recently-deceased feeding frenzy, fueled by mortgage lenders with deep pockets and all the fiscal restraint of sailors on leave.
It is a now a fact of real estate life in most areas that their numbers - and that financial fuel - have shrunk like last month's birthday balloons, and it's true that there are fewer prospective buyers rummaging through the current logjam of listings.
Enter the law (not the theory or fantasy) of supply and demand, which dictates that when the number of consumers is dwarfed by a surplus of products, either prices take a hit or activity takes a holiday.
That reality underpins my contention that, while there may be too many homes for sale, there are too few legitimate sellers offering them.
This position is backed up by more than a half-century of experience on and behind the firing line of real estate brokerage, during which I have seen and survived several cycles of inflation, deflation and stagflation, as well as so-called sellers' markets which morphed into buyers' markets and vice versa.
Through all that trauma, certain facts remained unchanged - facts that are being ignored by too many would-be sellers and, sadly, pseudo-professionals. They are as follows:
1. No home in history has ever sold for a penny more than the best offer obtainable from the best buyer available in the then-current market.
2. The only way to determine the true value of a home is to thoroughly and aggressively test the market and challenge the competition. That process need not be a lengthy one, since buyers and their agents do comparison shopping and readily react to an attractive offering.
3. Once that procedure has been pursued, properties remaining unsold for an extended period of time are, quite simply, overpriced. Forget about what similar houses sold for in the past (which is history), or what those would-be sellers might have invested in their homes (which is irrelevant), or what qualified appraisers say they are worth (which are only opinions). The critical test is exposing one's home to the greatest practical number of prospective buyers and active agents, and then analyzing the results.
4. A home that is appropriately priced and effectively marketed, preferably by competent professionals, will ALWAYS attract attention, generate activity and ALWAYS sell for what it's worth (refer to Fact #1 above).
The problem today is not that there are too few buyers. Demand is what it is and neither wishful thinking nor wistful memories will increase its size.
The more serious shortage is of genuine sellers; i.e., those who meet these specific criteria:
a) They are willing and able to accept the best price obtainable from the best buyer available in the current market, and
b) They have something to lose if they don't do so.
"Sellers" who do not fit that mold are not sellers at all and should be encouraged to take their properties off the market. (Realistically, they're not actually ON the market, anyway!)
The market is not always kind, but it is never wrong - and those who believe otherwise pay a heavy price for ignoring "The Facts Of Life For Home Sellers."
FOOTNOTE: For a further dose of this perhaps-unpleasant medicine, visit www.joeklock.com and click on that caption. You have nothing to lose - except, maybe, a pipe dream.
If that doesn't work for you, take two antacids or a short snort and DON'T call me in the morning!
Here's the bottom line - take it to the bank or to any nearby Wailing Wall: When proper pricing is combined with effective marketing, there is a buyer for everything and, given those conditions, any home can be sold in any market.
The ritual dances of negotiation may change with market fluctuations, but the drumbeat of reality does not!

Mike Carraway
Broker/Owner

WEICHERT, REALTORS - Access Realty
1100 East Park Drive, Suite 104
Birmingham, AL 35235
1-800-840-0165
WEICHERT, REALTORS - Access Realty
Valleydale Branch
4500 Valleydale Road, Suite 160
Birmingham, AL 35242
205-995-3939
24/hr Info: 800-634-0511
24/hr Fax: 800-634-0511
www.Access1000.com
www.Weichert.com
www.AlabamaWebPage.com
www.TakeOurTest.com
www.BirminghamRealEstateSchool.com

Like so many people throughout the country, we at NPR's Student Podcast Challenge are working from home right now. And after months of teaching students how to make a homemade podcast, we put our skills to the test: The latest episode of our podcast was recorded from our bedrooms.


Host/producer Lauren Migaki recorded a podcast from her home/pillow fort studio.

We used pillow forts (just like in our how-to video!), bulky headphones and special, professional-grade microphones. But don't let the equipment discourage you — with just a couple tweaks you can use essentially the same setup: Replace the headphones with earbuds, and the mics with a mobile device like a cell phone or tablet, and you are ready to go!

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Daily more and more realtors are turning to RSS as a tool to market homes for sale. The growing RSS phenomenon in the realty market makes perfect sense. Unlike email RSS feeds have a 100% delivery rate. In addition the costs involved in creating and managing an RSS feed are insignificant when compared to the print advertising Realtors spend on each week. Imagine the amount spent each week to promote various properties in circulars and weekly newspapers, compared to the costs associated with updating and managing an RSS feed.

Realtors Employ RSS to Sell Homes

Great toolkits on the internet - if you're not using How To Corp tools, then you are missing your greatest internet opportunity.

WRITING ARTICLES SHOULD BE YOUR #1 FORM OF PROMOTION! But once you've put your masterpiece together, who should you send it to? Now there's a list of Ezine Editors who are simply crying out for your quality articles.

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Scams are a huge problem for work at home job seekers. Business and job opportunity scams in general are in the FTC’s top 10 fraud complaints. The number of complaints soared during the COVID pandemic, unsurprisingly, as many people were desperate to find work, especially remote work. If you’re...

The post The Work at Home Job Seeker’s Guide to Scams appeared first on Home with the Kids Blog.

It’s wonderful when the kids reach school age and you’re working at home. Suddenly you have all this time to work on your job or home business. But then winter comes, and sometimes that means you get hit by a snow day. It isn’t always fun to cope with...

The post How to Cope With Snow Days When You Work At Home appeared first on Home with the Kids Blog.

There’s one very common goal for moms with toddlers in the house – finding time to exercise. That toddler might just be the key to getting your workout done. Who needs a gym membership with a toddler around? All you have to do is the mom of a toddler...

The post The Mom Of A Toddler Home Workout appeared first on Home with the Kids Blog.

I have written here often enough about work at home scams. Recently I had one try to contact me. I didn’t fall for it, of course, but I had a little fun confirming that this amazing job offer was in fact the scam I knew it to be. I’m...

The post Unmasking a Work at Home Scam: My Firsthand Experience appeared first on Home with the Kids Blog.

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Hi , It's hard to believe that this little E-Mag is rolling out from August 2002 and here's the first issue of 2005! Also, in 2005 this newsletter crossed the subscriber base to 25000+ ...a figure I never imagined possible when started out with little knowledge and a lot of passion. And this year, the only resolution I took is to make Learnhomebusiness.com one of the best in it's slot. So as a valuable member, what you can you expect in the next couple of weeks?...

Hi , I am happy about 2005 so far. Two great products have come out in January that over delivers the price and gives value for money. Unlike 2004, where there was dearth of original products. All we found were rehashed content. And it's a real pleasure to promote such products that gives total value to the paying subscriber. Both were expensive from an average persons stand point but still, I would prefer to market such products any time. I can do it with a clear conscience and can feel an inner glow when I receive emails complementing me on these products. This issue also features two great free gifts for you to download!

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