about how much the house down the street really sold for!

We are in a high tech society with information that is available for all consumers at their fingertips 24/7. Yet we continue to rely on those we know personally to help provide us with information we believe to be fact. Unfortunatly, the information provided to us by our neighbors, family and friends won’t always benefit us in the long run if the facts are streched even the slightest.

A homeowners ulitimate goal is to purchase a home where the value of the neighborhood will continue to rise as they continue to reside there 3,5,10,20+ years. And for those tough economic times such as today’s when national financial hardship has taken a toll on our largest investment, homeowners hope their neighborhood value will sit steady. Never does a homeowner want to see or hear that the value of their home or neighborhood has decreased!

Because of this, we should not be surprised when our neighbors so matter-of-fact like tell us how much we should price our house for the market. “Mr. Smith down the street just sold his house last week for XXX amount of dollars. I wouldn’t list it for any less than his contract price!”

And there it it! So despite the Realtor’s recommended list price for today’s market value, you end up taking the bait otherwise known as advice of your neighbor and place the home “For Sale By Owner”.

Two weeks go by… a few showings

Four weeks go by… a few more showings and a Open House

Six weeks go by…. active buyers have slowed down and showings are minimal

You run into a friend who you haven’t seen in a while that happens to have lived next to Mr.Smith. You quickly learn Mr. Smith had moved 8 months prior to the closing and the home was vacant. Mr.Smith was paying alimony to his mortgage here and ready to get it off the books. You are mad at the thought of how much time you have wasted because your own neighbor mis-informed you with information you thought to be valuable.

The next day, you call the Realtor to schedule another meeting. He/She brings the neighborhood statistics of what had actually “Sold” in the last 6 mths and once again offers a recommended market price for your home. You sign the paperwork and within the first 8 showings, you have solidified terms and are “Under Contract”.

*** According to National Association of Realtors, if your house is priced right for todays market value, you should have an offer within the first 8 showings.

It’s important in todays market you know the facts! Ask your local real estate professional to provide you with those facts. You get what you pay for…Don’t pay for your mortgage another 6-8 mths if you have to sell your home quickly! It pays to have a professional represent you in the sell or purchase of your home.

To get sold information within your own neighborhood, visit http://sales.carolinahome.com/ and call me, Heather Lamp at 704-345-3869 or 803-835-0213.