You are curious about how much your home is worth and want to find out what the market value is for homes in your area. There are numerous ways to accomplish this, but the most accurate way is to contact a local agent and ask them to do a CMA report for you. A CMA is a comparative market analysis, which most agents will do for Free.    A CMA (Comparative Market Analysis) is a service normally provided by real estate agents prior to either listing a property or making an offer to purchase a property on the behalf of a purchaser. The true purpose of a CMA is to establish a current estimated market price of a property. This is accomplished by researching both: the currently listed properties and the most recently sold properties, in the same area, with similar characteristics as the prope... 03/24/2008

When you have your home on the market, it needs to be ready to show at all times. Of course you won't have someone showing up at 7:00 a.m. or 10:00 p.m., but during reasonable hours, your home could be shown multiple times throughout the day and evening.  Have your agent put a lock box outside. This will allow them easy access without bothering you. Lock boxes contain a house key, are completely secure, and only licensed agents will have access.   If you have indoor pets or some other situation where a lock box wouldn't work, agents can schedule appointments, which give you advanced notice. Keep in mind that they could call 10 minutes before a showing, although usually you will get an hour or two notice. Therefore, the best plan of action is to be prepared at all times. If an agent req... 03/24/2008

Here is a summary of the Real Estate Statistics provided by the Windsor and Essex County Real Estate Board for the Month of February 2008. Sales month-over-month in February increased by 3% over February of 2007.  Listings taken in the month increased by 5% BUT year-to-date listings fell by -3% Prices were higher from a year ago from $158,914 to $162,937.  Despite all of the doom and gloom for our local economy, statistically things don’t look all that bad. Overall Market February 2008 in Windsor and Essex County 2008 2007 2006 %INC/DEC [ 2007 - 2008 ] Total # of Listings [Month] 1125 1067 1230 5% Total # of Listings YTD 2453 2529 2567 -3% Total # of Expired Listings [Month] 432 436 428 -1% Total # of Expired Listings YTD 925 913 934 1% Total # of Sales [Month] 398 386 427 3% Total # o... 03/07/2008

 Once you've sold your home, you can proceed with your move and tie up loose ends.   Create a file in which to keep all closing and settlement papers: include receipts for any home improvements you made while you owned the house. Even though it's unlikely you will have to pay capital gains tax, you will need these figures for your next tax return.   If you are planning to buy another home, decide how much you need for a down payment and moving costs. If you made a profit on your home sale, it may be wise to make a minimal down payment on your next home, and invest the rest. This will depend on your tax situation and how the numbers evolve. Consult your financial advisor. If you aren't buying another home right away, you may want to opt for a combination of long-term and short-term savi... 03/07/2008

 You have identified the buyer. Now the buyer is busy with financing; until the sale closes, you are responsible for keeping your property in the same condition as when the buyer saw it last. The closing date should be clearly specified in your sales contract, which should include deadlines for the buyer to sign off on contingencies. Make sure the buyer meets any deadlines you've set.   Be ready to deal with any problems that may crop up. For example:   Unsatisfactory Home Inspection - If the fix is major, you may want to split the cost of the repair with the buyer, or give the buyer a cash credit at closing to cover the repair. If the fix is minor, or you are selling in an active market, your sale might go through without any concessions on your part.   Preventive Measure: Make sure th... 03/07/2008

In most cases, you will wait anywhere from 30 to 60 days for an offer, depending on the market and location of your home. This can be an emotional process, especially if offers come in far below your list price, or your home has been on the market for several months. This is why obtaining an experienced agent is essential, so you know what to anticipate and can attack the market accordingly.  Never rush. Take the time needed to make an appropriate decision and never jump at initial offers. Consider all offers carefully, and make sure that the terms are as favorable to you as they are to the buyer. Never accept an offer on the phone. Contact your agent and meet in person. This rule will prevent you from emotionally reacting.  Before you list your home, decide on the lowest acceptable off... 03/07/2008

If you plan to work with a listing agent, chose one familiar with your area that has a track record. A good agent will provide an honest assessment of your home's value. When deciding an agent and sales plan, consider the current market and your home's salable assets as well. Comparative Market Analysis A comparative market analysis should take into account repairs, improvements, and annual costs (such as property taxes) of your home, in addition to its size, features, and amenities. Expect to get an analysis of recently comparable homes sold in the neighborhood, as well as a list of equivalent homes currently for sale. When you receive the analysis, break down the home comparisons to square footage. It will allow you to analyze how accurate the CMA estimate is. One Step Further If you ... 03/07/2008

Your home's value is ultimately what a buyer is willing to pay at any given time. It’s dramatically affected by the strength of the market: supply verses demand. If you want to sell quickly, or you are in a buyer's market, you may decide to set your price lower than market value. On the other hand, if you're in a seller's market where multiple offers are common, you may want to set your price higher than market value... (continued) 03/07/2008

It is now time to look through the eyes of the buyer, transferring your home of memories into a dream house for someone else. Decide whether you want to hire an agent to handle the sale, then do whatever necessary to get your home in it’s best possible condition.  Take the initiative and get a pre-sale inspection, to prevent costly surprises from the buyer's inspector. Inspections usually cost between $300 to $400. If major damages are discovered, your decision to sell or at least the price at which you sell may be altered.  Most states now require sellers and their agents to disclose issues that may affect a buyer's decision to purchase your home. This is a touchy topic, so speak with your agent to make sure you understand what you need to disclose, what repairs need to be made, or wh... 03/07/2008

Selling your home is not on anyone’s top 10 list of fun things to do. It’s time to sell, so here is a simple game plan of what you can expect during the process. First time sellers, listen up, because now it’s your time to find the buyer!  First and foremost, figure out if you want to sell your home on your own or with an agent. The vast majority of people choose to sell their home with an agent, which is statistically wiser. Fewer financial results and smaller sales are produced from homeowners selling their own homes. How can this be? The simple fact is that the sale of your home depends upon what a buyer is willing to pay. If you cannot attract the right buyer, or negotiate the proper deal, then you’re stuck behind the eight ball. And remember - marketing your own home can be very c... 03/07/2008

You are ready to sell your house and want to know if selling your home on your own is the best solution. The truth to this question can come with a bias, so I will provide both sides. If you do sell your own home (known as a FSBO – for sale by owner), you’re incurring a lot of responsibility, but can save a fair amount of money. Generally, the seller pays between 5-8 percent of the sale, to the agents. Selling your home without an agent will save you that 5-8 percent. And since the majority of buyers have an agent, you will have to cover the 2-3 percent for the buyer’s agent, meaning you save around 2-3 percent on average. This is around $4,000 - $6,000 dollars on a $200,000 home. You can only speak to buyers that do not have an agent, but then you are quickly limiting your potential c... 02/18/2008

Here is a summary of the Real Estate Statistics provided by the Windsor and Essex County Real Estate Board for the Month of December 2007.Sales month-over-month in December dropped by 14% over December of 2006.  Listings taken in the month of December also declined by 13%.On a positive note, year end sales unchanged over last year as were listings.  And the average sales price was relatively the sale as well at around $166,000.00Overall Market December 2007 in Windsor and Essex County200720062005%INC/DEC[ 2006 - 2007 ]Total # of Listings [Month]607697559-13%Total # of Listings YTD1497015041143920%Total # of Expired Listings [Month]119313011206-8%Total # of Expired Listings YTD761483716988-9%Total # of Sales [Month]220257264-14%Total # of Sales YTD5393539660170%Avg. Sales Price YTD 2007 ... 01/04/2008

1.  They list their home with a friend or relative.  Although friends and relatives are great to hang around with, studies show they are lousy business partners.  Here's why, statistics show that there is a 70% your buddy sell's 3 houses or less a year. ...And, when you deal with a friend or relative, there is usually some kind of ‘deal' involved. This means that they do not have the means or connections to market your home and do their job properly, which in turn can suck thousands more out of your family's bank account faster than a Hoover vacuum.  2.  They do not interview or research more that one agent and ask the right questions at the interview.  Let me explain, when any company hires someone for an important job where they invest hundreds of thousands of dollars into, they have ... 12/06/2007