Unrealistic real estate expectations can sabotage results!

Unrealistic expectations in buying and selling real estate can sabotage results. If you intend to buy or sell real estate in six months or sooner the following information needs to be considered.

• You should price the real estate you are selling according to market conditions and the condition of your property.

If you are buying you should be willing to pay a fair price for the best choice of a home that fits your needs and expectations concerning quality and condition.

• Be clear on what you are trying to accomplish. This is particularly difficult for first-time-home buyers and sellers. You need to know where you want to buy, the minimum size and amenities that you need, the price you need to pay so that paying the mortgage will not change your present life style and unduly burden you financially. You also need to consider the distance required to travel to work, school, daycare, recreation and shopping.

When pricing your home to sell, you need to consider condition, competition and economic conditions in your area.

• You also need to be prepared to act decisively. There are more buyers than you out in the marketplace wanting to buy property. The best homes (location, condition and price) will always be bought first and quickly. First-time-home buyers are sometimes competing with buyers who have experience buying property. Experienced homebuyers know the rules and market place conditions, which gives them the advantage. The only way a first-time-home buyer can level the playing field is by having an experienced Realtor® who has your interest at heart and listening to and taking the advice they give you.

• Correct price for the local market is essential. You should not believe everything you read from ‘real estate experts' who do not live in your area. While national asking/selling price averages might seem useful, they are generally divorced from the reality of a local market. Real estate web sites do not guarantee or promise that information they present is accurate or up-to-date. MLS information is the only accurate way to judge price, condition or location. Generally prices vary across a market place and can vary street to street.

John in Nashville