Brian Sharkey South Florida Realtor

Sharkey Short Sales:

This method will allow you to enter all economic details on the short sale property so that lenders can see the cost-saving advantages of accepting a short sale offer versus letting the property foreclose.

A key element that helps me successfully close short sales!

If you looking to sell your property short or might need someone to look at the situation and tell you if you are a candidate for a short sale then call me Brian Sharkey at 772-579-1981. <!--<li>Property Repair Cost Estimator: dozens of standard repair costs itemized by individual scope of work. Allows you to at-a-glance estimate necessary repairs</li>-->

All the talk about short sales this blog outlines how to get ready to sell.

If you've decided to go ahead and sell your house, it's important to have a sales strategy planned out before you even put your house on the market if it's short or not; your agent can tell you or just call me. 772-579-1981 It's also important to have a strategy that both you and your agent agree on, right down to the last detail. With all the details of your plan firmly in place, you'll have a strategy that will help your sale go more quickly and more smoothly when you start receiving offers from buyers.

What Should a Good Strategy Include?

Your sales strategy should incorporate two mini-plans, one for marketing your property, and the other for financial considerations and interacting with buyers.

Marketing your house effectively is a crucial part of the sales process. Marketing is designed to get as many people as possible through your front door, because the more interest you create in your property, the better your ability to negotiate a good sale price. This section of the plan should include things such as:

• Advertising, photographs, and signage.
• Whether or not you decide to hold open homes.
• How you're going to "stage" your property to increase its appeal.
• Ways to emphasize the strengths and downplay the weaknesses of your property and neighborhood

The second part of the plan should include the following considerations:

• Your initial asking price. Do you want to consider a range pricing strategy?
• If the market is slow, how long will you wait before making a price reduction, and how much will the reduction be?
• Negotiation with potential buyers.

Range Pricing Strategies

Range pricing is a way of getting more buyers through your front door. Using a range pricing strategy means listing your house at a price range you find acceptable, rather than a firm price. For example, if your home is valued at $275,000, you might list your range as $250,000-$275,000. This way, you get more buyers coming through your home, and while they may offer bids that are lower than you want to accept, you have the option to negotiate a price that's more to your liking. Range pricing strategies are an excellent way of generating interest in your property in a slow market, but are less useful when the market is strong.

Negotiating with Buyers

During the offer and counter-offer process, what do you want to stand firm on, and where are you willing to compromise? Consider such things as:

• The length of the closing period.
• Who pays closing costs?
• Who pays for repairs that might be needed. Will you pay for the repairs yourself or negotiate a reduced sale price to compensate the buyer for repair costs?
• Beware of so-called "open-ended contingencies" when negotiating with potential buyers. An example is a buyer who makes an offer subject to them selling their own property before buying yours. If you end up negotiating with such a buyer, counter with a clause that states you have the right to accept a better offer if it should be offered to you.

Other Things to Consider

• Will you hire a home inspector to do your own inspection before putting the house on the market? It's an extra expense, but it can give you a firmer negotiating position if you're aware of problems the house may have before it goes on the market.

Review your strategy regularly. If something isn't working for you, don't be afraid to change it if you and your agent can work out a better one.

Sharkey short sales, short sales, expert facilitator

MORTGAGE RATES

Rates on 30-year mortgages increased this week for the fourth time in the past five weeks, rising to an average of 6.13 percent, up from 6.03 percent last week, according to Freddie Mac's weekly nationwide survey.

As suggested the mortgage rates are more likly then not going to increase over the next year. If values drop another 10% and interest rates increase just .5% the buyer will pay the same for the house over 30 years.

So why now, why not wait? Well inventory is the highest, the newer homes will sell first. If your interested in receiving more information please call.

Brian Sharkey can be reached at All Florida GMAC Real Estate at 772-335-1995 ext. 192 or via email Brian@BrianSharkeyRealEstate.com http://www.briansharkeyrealestate.com

Rates Up Vs Values Down

Buyers are getting off the fence, my circle of influence woke up. Why? Could it be all the play I've given with the values taking a big hit the last three months. The thought that rates will be forced up by inflation.

When I'm asked what I think the market will do, I respond I don't want to be rude but let me answer that question with another question. What do you think will move faster? Rates going up or values coming down. I could argue (converse) a number of ways depending on how you look at the data.

In short here is why I think it is the best time to buy. Values have dropped 2-7% per month the last few months simply because people needed to get out and the buyer pool simply could not afford the prices. We have seen a 35-55% drop in values from the high point.

The chart below shows that the feds cut the rates 2.25% over the last year, yet the interest rates on a 30-Yr Fixed dropped only .11%. Fed discount is 3.5% now. Inflation will likely force rates to increase. I believe this will cause values to drop, but not like the in the past so...

If values drop 10% more and the interest rate increases .5% over the next year, a home buyer will pay the same amount for the home over 30 years. Saving nothing by waiting, buyers feel now is a better time because we have more to choose from.

Can anyone add to or correct any thoughts here?

Sources: IBC' s Money Fund Report; Bank Rate Monitor; Federal Home Loan Bank of San Francisco

Brian Sharkey can be reached at All Florida GMAC Real Estate at 772-335-1995 ext. 192 or via email Brian@BrianSharkeyRealEstate.com http://www.briansharkeyrealestate.com

Mets play against the St. Louis Cardinals and former college basketball coach Bob knight was a guest in Cardinals dugout during the game.

A Yankeefan myself I'm finding more and more Mets fans visiting the area. Now that Port Saint Lucie is on the map with the bio tech cluster starting to form in Tradition more and more big names are stopping in to check out the area.

If your thinking of buying, selling or renting near the Mets spring training camp I can help. Just email me at brian@briansharkeyrealestate.com.

Brian Sharkey can be reached at 772-579-1981

www.briansharkeyrealestate.com