| Frequently Asked Questions
Q: Pat and Tish, why should I use a Realtor?
A: Whether buying or selling property, you'll find your Realtor will work with you and provide advice, statistical facts, and up-to-date information to help you in your decision making. Your agent's knowledge of what questions to ask and how to interpret the answers will ensure you are getting the right home in the right condition and/or selling your property for the best price possible with the best possible terms.
Q: Pat and Tish, how do the current and local Walla Walla real estate market conditions affect my offer price?
A: If it's a "buyer's market" it means there are usually more properties available and they are staying on the market for a longer time. Prices might even decline temporarily. You may be able to offer less and still get the seller willing to make some sort of counter offer in order to sell. And in July 2008 it is a buyer's market!
If it's a "seller's market" it means that there are more buyers than homes, that homes are selling quickly and, sometimes, even for more than the asking price because of multiple offers. If your offered price is too low as you try to get a "deal" on the property, reducing your offer by even a few thousand dollars could mean you won't get the home or even the opportunity to offer more because someone else will beat you to it. And if the market is "stable" or "in transition" there are no assurances! So make your best offer and hope for the best! And currently the Walla Walla real estate market is in transition!
Q: Pat and Tish, what do I need to do first before I think about purchasing a home?
A: Get your finances in order. This is not like buying an item for the kitchen! Many sellers require a prequalification letter with your offer to purchase. So you should check with a lender to see what kind of mortgage you qualify for and what kind of down payment and monthly payments you are comfortable with.
Q: Pat and Tish, what do those showing agents really mean when they say...
"The buyer thought the house was too small." They mean "The Buyer found larger homes for the same price."
"They liked the house but bought another one." They mean "They found other houses that were better values."
"They liked the house but bought a new home." They mean "Buyers will pay 10-15% more for a new house.
"They thought the yard was too small, the street too busy..." They mean "They found other homes with larger yards, quieter streets."
"They didn't like the floor plan. They mean "They didn't like the floor plan."
Price objections are always clothed in different terms. Seller's goal: TO BE THE NICEST HOUSE IN THE PRICE RANGE!
Q: Pat and Tish, what are the best home improvement projects that will give me a good return on my investment when I go to sell it?
A: If you've read our report "27 Free Easy Fix-ups to Sell Your Home for the Best Price" you know that we firmly believe in paying attention to the small details and cleanliness first and foremost. But if you want to do more, do projects that will enhance the natural lighting in your home. Rooms that have at least two different directions of natural light will seem more uplifting and safe and will be attractive. Natural light increases the beauty of the rooms and you can even take advantage of passive solar energy to make your rooms more enery efficient and comfortable. Windows, skylights, glass doors-all increase the perceived size of your room and makes them warm and inviting without a lot of major remodeling mess and cost!
|
