Bill Williams-Broker,REALTOR

I had mentioned that it might not be the best time to sell your house. If there is no pressing need to move and you can afford to stay in your house, then you might better served to tay in your home for awhile. But if you need to sell and can afford to sell it there are some good things to consider.

Some homes sell quickly and some don't. Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price. If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and "shows" better than the competition, it will have a better chance of being sold quickly. The secret is perfecting a technique that's as American as apple pie: comparative shopping.

Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it's one of the best methods to use when determining a home's market value. A responsible real estate agent will effectively evaluate a home's worth through a process known as Comparative Marketing Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called "comparables," that have sold in the area within the last six months. Typically, the agent is able to recommend a realistic price range that will ensure you top dollar and a reasonab

However, factors such as the amount of time needed to sell your home can alter the agent's price recommendation dramatically. Typically, people should check with real estate offices in the community to determine the typical duration that listings are on the market. Sales associates will explain that the marketing "norms" vary with prices and properties. Based on this criteria, the agent feels confident that he or she will be able to sell it for a price that both you and the buyer will be happy with. However, if you're under time constraints because of unexpected job changes or moving agreements you've made on another property, this will narrow your chances of selling the home for top dollar in the market.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property. The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to shore with you. A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you've picked is a good gauge of the home's worth and won't discourage qualified buyers.

Being open and honest about what you see as the home's greatest strengths and biggest weaknesses will also help an agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you're well on your way to a speedy and fruitful sale.

THESE SERVICES ARE PART OF THE SERVICE REALTORS PROVIDE

-REALTOR.com has 1.3 million members, and statbrain.com estimates REALTOR.com gets 1.6 millionhits per day.

-CENTURY21.com receives over 2 million hits per month and the average visitor views the site for almost 20 minutes.

-ZILLOW.com and TRULIA.com are real estate websites used by real estate agents to list and search for homes for their clients.

-Activerain.com is a real estate agent web site where agents share information, listings and services via blogs and profiles.

-BillWilliamsRealestate.com is my website which offers VIRTUAL TOURS of your home for free.

-VIRTUAL TOURS are used by out-of-town buyers to see your home before they even arrive into town.

INVENTORY IN THE CATAWBA VALLEY

2,231 houses are currently for sale.

100K-150K, 8.4 mos.;151K-250K, 11.9 mos.

251K-400K, 25.6 mos.; 401K+ 46.6 mos.

AVERAGE DAYS ON MARKET(DOM)

634 houses were sold in the last 3 mos.

$100K-$150K, 157; $151K-$250K, 167

$251K-$400K, 197; $401K+, 220

PERCENT SOLD BY A REALTOR

(national average according to national statistics)

93-97% of all homes are sold by a REALTOR.

There are some buyers who want to sell. They want to move on for whatever reason. There is an area they might like better or a different school district or they might want to upgrade to a new home. But if they sell now they might be leaving money on the table. The market is down 14% in our area in the last year. If the market recovers that in the next year like some advisors and economonists predict, that's $21,000 left on the table for a $150,000 house. That's money that can be turned to equity and used for a down-payment in a year. I doubt most of us could save up that kind of money any other way.

There is a young couple that was desperate to sell in the spring. She lost her job and they had too many bills. They really can't afford to sell given the current market. With home prices down they are upside-down on their mortgage and they don't have money to bring to closing. At first, they were behind on their bills and possibly considering a short-sale. Now they have gotten caught up, sold some stuff and the financial pressure is off.

But there is a different area they want to live in and they still want to sell. In fact if they could afford it they'd sell at a loss for the opportuniy to move to another area, even though they're getting ahead financially now. All they need is a little patience and time and a market that will bounce back. In their case, it will be worth it in the long run to wait. There is no pressing need to move now. So in the mean time their house is listed above market in the hopes they can move on sooner.

Then there are those who are WAY up-side-down. Folks who bought a house for $500-thousand and now it's worth $300-thousand. They afford they payments, have a good job, like the area and have no need to sell. But they just can't stomach the fact that they are upside-down on their home. They were going to sell in five years and make a profit, now they may have to wait ten years to break even. So they just bail on their mortgage and walk out of their house for no other reason than their pride.

The first home owners are impatient and maybe a little immature but they're doing the right thing and waiting. But the second are selfish, walking out on their responsibilities, leaving the banks and even tax-payers holding the bag. They should just deal with it, be patient, and preserve their credit.

I would love to sell every house presented to me, but I feel I have a responsibilty to encourage sellers to do the sensible thing if they are able. Sometimes it's just best to wait.

Buying a house? Before you start looking at houses and thinking about real estate agents there are some things you ought to think about.

First of all, remember an agent is not necessarily on your side. Most buyers see a house they like and call the agent on the sign. The agent shows them the house and the buyer decides if they like it or not. If they do like the house, the agent helps negotiate the deal, schedules the inspections and does the leg work to facilitate the closing. Little does the buyer know that the agent is working for the seller and has no obligation to the buyer. The deal closes, the buyer moves in and never knows no one was on his or her side.

Even if the buyer doesn't like the house, the agent tries to keep working with the buyer to sell them another house, even if it's listed with another agent. After all, an agent has access to all homes in his or her MLS region.

In my state of North Carolina, agents are required to disclose all aspects of agency to all parties involved. At first subsantial contact we explain the different roles of agents in a transaction and who represents whom. Also, what each party's responsibilty, right and obligation is. In a given transaction we explain the specific roles of agents in a given situation; who represents whom, who pays who, and full disclosure of each persons fees and commissions.

This is where the written buyers' agreement is useful. A buyers' agreement protects you, the buyer. It keeps your confidential information confidential. Say you don't have an agreement, or the buyers' agreement is verbal. If for some reason you stop working with the agent you THOUGHT was working for you and then you find them working on the other side of your transaction, they are REQUIRED BY LAW to disclose everything they know about you as it relates to the transaction including your financial situation and motivation for buying.

As agents as a whole, we do a pretty good job keeping everyone in the loop. But there are those who are negligent in disclosing the required information. Whether it's because it's awkward or because we don't want to scare away potential clients, some agents are reluctant to explain the detais of agency.

Buyers, don't be intimidated by paperwork, Be fully informed and have your interests protected. Make sure a written includes the ability to fire your agent. Be engaged in the process, know who works for who and who is geting paid how much.

It's in your best interest.