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Real Estate 'Surfing' and Selling in our Current Market

Looking for homes in a virtual world isn't always the best tactic.

I know many people who enjoy surfing online through new listings on the market on Realtor.com,Trulia, Century 21 and other "real estate generated" websites  on a daily basis. It can even become something of an addiction to see what has just come on the market in your neighborhood (and fun to look through pictures of your neighbors houses online without them knowing {grin}).

For those of you "seasoned" at doing this, you are probably noticing how few homes have been listed lately for sale. The Conejo Valley market is at an amazing LOW for listings presently still available. Buyers, hungry for anything new on the market, circle like hawks around the new listings until they can get in. Weekend Open Houses are now being bombarded by buyers and their agents (I was at one last week that had over 60 people come through to see the home). Many homes right now are receiving multiple offers, sometimes considerably over the asking price.

My suggestion, with the market being so favorable for selling, is for you to take the time to interview a few different realtors and find out what they (and their company) bring to the table. You want someone who understands what they are doing, and although it may seem nice to do, it is not always best for you to go with a cousin who just go their license or the real estate agent your friend used a few years ago. Interview them first and see if they are truly a fit for you. It is also important to make sure your Realtor knows the homes in your area. Out-of-area agents do not necessarily know the neighborhood, schools, and other attributes of living here.

Then be realistic on your price. Ask for a detailed comparative market  analysis (C.M.A.) from the Realtors you interview. This is where it gets hard. You interview three Realtors and they give you three very different prices. The one who gives you the highest price for your home is not always the best one to choose. Yes, your house might be spectacular and it darn well might be the best home on the block, but you also want it to be able to sell when you list it!

If someone tells you that you should put your home on the market for a price that you know is tens or hundreds of thousands of dollars above anything that has sold in your neighborhood in the last six months, question it. Why do they think it is worth so much more than the competition? Having a house on the market can be stressful, and you don't want it to sit for months why you lower and lower your price (more than likely you will also need it to be able to appraise at the purchase price so your buyer can get a loan on it). Make sure whichever real estate agent you choose has your best interests at heart.

Pamela Blankenship

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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