Connie Goodrich,CRS ABR (McKinney Realtor)Texas

Thanks to HVCC requirements we now have this box that the appraisal report must neatly fit. No out of the box thinking allowed, it MUST conform all into a tidy package, no rough edges sticking out, no room for a little fluff on top. Just a plain vanilla box sealed to perfection.

Enter Real World properties. Homes are unique and not all are clones of each other, many points of difference and heaven forbid if they are located in an area where a move is rare .. no recent sales activity.

As REALTORS, we need to be able to quickly ascertain if a listing opportunity conforms to "the box" or if out of the box challenge will arise. As a professional you need to be able to relay to your clients the hurdles of the future if there are some that will need to be jumped.

A few in the box rules to be familiar are:

• Recent sales within the last six months.
• Location of sales - are they nearby or is a great distance required?
• Size of the home - are sales relatively similar in size or would large square footage variances be present for comparable properties?
• Line item adjustment - does your home have an improvement that other sales do not have that would make an across the board adjustment necessary for the amenity - i.e. pool? Underwriters hate this type of adjustment across the board!
• Bracketing - are there sales that are larger in size, smaller in size, sale above and below the sales price?

If you have a challenged property be sure that you try to make up for this obstacle with a strong buyer candidate. One that has a good down payment, great credit.

You may be able to do some great out of the box marketing and even nail the right value potential for the home but the package will close if a buyer's appraisal does not meet the rigid rules.

We would like to blame the appraiser (and there are some that do deserve the blame) but the reality is that limited data will procure a challenged report. A challenged report, even when the value appraises, most likely will face an underwriter rejecting it, calling for a review, etc.

Be prepared on the front end. Keep current with all market activity and when that offer comes in be realistic with your clients. This is called representation.

There is one way to beat the heat ... no I'm not doing a post to rub in the fact that our Dallas Mavericks took the NBA Title.

Each morning my husband Jim takes our Black Lab, Bear (a female .. my husband named her and I thought it sounded like a boy name but I digress) for a job. We live in a beautiful community in McKinney, Texas know as Eldorado, which is a master planned community known for its trees, golf courses and pretty terrain.

Now I know you members that live in parts of the country that these would look like shrub trees must understand, this is a rare sight for thie geographic area so it is a wll sought after premium ... trees!

Bear enjoys her after run treat of a good hose soaking and bites of water as she enjoys the cool down!

This time of year in Texas we have been reaching 100 degrees and promises of even higher temperature to come. It is during these times that we reflect on those special moments in the winter and wish we could average the temperatures to get a cool crisp enjoyable day. During her runs I imagine Bear is fantasizing on the past ...

Of course we all know how the Dallas area beats the Heat!

OK, so I'm proud of our TEAM!

Attention Walmart shoppers, today in aisle 4, the home product section, we have our featured home on special today. Like all of our homes, we have all our homes with a discount priced special value and we do price match for satisfaction.

There are many strategies regarding how to price position your home. Many who with passion defend their method of the best visual price to give your home a standout edge.

One method is to price your home with odd numbers like - $429,957. The theory is that as the properties in a price range are pulled up on a MLS search or website search like Realtor.com the odd numbers would make it stand out and not be grouped with others. The thought is it would be isolated in the grouping and gain more immediate attention by the buyer/agent.

Another method is to price slightly above an even number as to give the seller a little more negotiating edge when an offer arrives so they can either appear to take off more on a counter offer or receive more at the end. Example: $326,500 - Goal was to hopefully obtain $320,000 - offer comes in at $315,000. Seller counters $322,000 and buyer accepts. Sometimes in a negotiation the parties decide to half their difference which with this type of pricing could give an edge.

Then my favorite is solid base foundation price positioning. By pricing in an increment that is used as a common search criteria amount, you may capture not one but two buyer levels. Example: $350,000 even. This would then be a home price point for $300,000 to $350,0000 and also $350,000 to $400,000. If you were to price at $349,950 then the opportunity to be in the next level group has been lost. Also, after you discuss this method to your clients, it might encourage them to price position at a better advantage. Instead of pricing at $410,000 they just might be encouraged and see the value in your suggestion of $400,000.

Walmart pricing - using a visual amount that makes it appear that you are not asking as much- $399,999. The thought is that it plays to the mindset that the home is priced in the $300,000 price range rather than $400,000. There are firm believers that this is the best listing strategy. I again challenge missed opportunity with not being in a price that search criteria hits so for $1.00 you miss another group of buyers. Agents argue that when they search they always go below the range some to capture this price level. Example - search set for $395,000 to $425,000. However, other websites do not give this option as they are pre-set for the criteria levels. If you use this method you just might lose out.

Advantageous price position of a home is a very key element that should be considered when taking a listing and deciding what to ask. It just may give you the edge you need to obtain a quicker sell!

A few posts back I had made a promise that I was going to just put my foot down and enjoy some time for family and relaxation. Keeping true to my promise, I said NO to 3 different clients who wanted my day for varied real estate related business. All understood and even said enjoy your time with family. My daughter and son-in-law came in from out of town which is rare. On borrowed time between the other set of parents in the area and friends, I knew I better spend the moments I could with them or just do the kick me later feeling if I chose work.

So today we went to the Dallas Arboretum and had a lovely picnic with other family members joining and even the in-law's parents. I of course took advantage with camera in hand to snap a few photos. Enjoy my fun moments!

Fun, Fun Day and I will be sharing more of my photos on posts to come! I will have to admit that I spent my morning on taking care of some business but I didn't miss out on this absolutely perfect afternoon with mid 70s weather, light winds and sunshine!

Sellers scurry to pack and take care of negotiated repairs. Buyers are busy packing and finishing up last minute mortgage details. The end of a transaction nears.

As a buyer's representative, it becomes hectic also towards the last days of a transaction. Many critical time frame dates to make sure has been completed to meet contract terms. Balls from all sides are being juggled.

The sellers have completed required and agreed repairs. Receipts have been given to the buyer's agent as proof of completion. Is the next step and one of the most critical steps missed as we head for closing? The buyer's walk through and acceptance of property.

When the buyer says ... I feel just fine about the repairs and don't have time to make a walk through before close then red flags should be waived. I have often had no walk throughs prior to close and this just puzzles me. Even if the sellers are still in the midst of packing and moving this should be done. Ideally the walk through takes place after the home is vacated, clean and ready to be conveyed. But sometimes that just cannot be achieved.

The WHY of a Buyer's Walk Through:

• Gives the buyer a chance to personally see that the repairs were done properly.
• Another inspection may need to be done to validate proper completion of repair by the home inspector.
• When repair is done things can happen such as further damage .. the unfortunate domino affect that sometimes takes place, Murphy's law at its finest.
• A vacant home can also reveal stains on carpet. I often see where furniture has stained the carpet as it has bleed the stain in over time. Validation of the home is left in the agreed manner.
• Gives time to troubleshoot and negotiate a resolution instead of a 9-1-1 drill.
• The buyer can refuse to close or negotiate funds being withheld if there is damage or repairs not properly addressed or competed.

The Big WHY for Agents - Liability. You want to make sure all has been done right, no matter what side of the transaction you are on. Never say the home warranty company will take care of that problem or be prepared to pay for it yourself when you find out they won't cover it. Caution - agents, don't do the walk for them even if they are out of town. Have them designate someone on their behalf (not you) to do this. I don't have to even explain the lawsuit potential that kind gesture will have down the road.

Be sure to obtain a Buyer's Acceptance of Property Condition signed off form from the buyer and listing agents ask for it or provide one to be signed at close if not before.

A prudent professional will not only protect their clients but themselves when they make it a practice of taking their buyers through to approve the repairs and condition.