Nancy Puder

What Every Seller Should Know in Today's Market!

When you decide to sell your home and invite an agent to come by to list the property, a good part of the appointment is centered around the Comparative Market Analysis (CMA). If you are not familiar with this term, here's a brief overview of how a CMA works...It's all about your home versus every other comparable property in the immediate or surrounding area. This is how agents help their sellers establish a realistic asking price. Recently sold listings, listings that have expired and active listings all need to be taken into account while establishing an acceptable price range.

Active Listings are your competition. A good move is to attempt to out-price your competitors as you address subtle differences in value between your home and the rest.

Expired listings should be considered since those are the ones that were in many cases overpriced and therefore, did not sell. Recently sold or closed listings are the homes that made it to closing and obviously the successful ones. It's important to use these homes as an indicator as to how well your home will do in the current market.

I can't stress enough how important it is to price your property correctly in the beginning. One of the most frequent questions that I receive from prospective buyers is: How long has it been on the market? If the buyer perceives that it's been on the market for too long. They will often "low ball" their offer, assuming that you are either desperate or that there is something wrong or undesirable about the property.

When you are ready to discuss the CMA with your agent, be sure not to place much emphasis on anything that sold prior to three months ago. If you sell your home, the majority of buyers will be obtaining a home and when the bank sends out an appraiser, he or she will only consider properties within that time frame.

I hope this information is helpful to you and just so you know, I'm never too busy for your referrals!

Nancy Puder is the owner/broker of Signature Properties, a prestigious real estate firm located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420. You may reach her at (805)710-2415 or visit the website at www.SignatureProperties1.com

Cheaper to Buy than Rent Right Now?

With lower house prices on the Central Coast of California and at the same time, rising rental rates, you may want to consider purchasing a home right now. Did you know that a home purchased for $300,000 with a zero down payment results in a payment of only $1900 per month? That includes property taxes and insurance! And yes, you can buy a house with zero down payment.

With the mortgage interest deduction still intact, your accountant will probably confirm that for many of you, a purchase similar to the one described above will result in approximately a $3600 tax savings!! If you are renting now for $1600, that sounds to me like a break even situation. I hope this news will prompt many people to investigate the possibility of owning versus renting.

With homeownership, there are so many benefits if you are brave enough to take that first step. For one thing, you won't be getting the dreaded phone call from the landlord that they have decided to sell the property and now you not only have to allow it to be shown to prospective buyers, but you will most likely have to move pretty soon. I find that most people are usually unprepared emotionally and many time financially, for this sudden turn of events.

In addition, historically prices go up regardless of what you are hearing all over the media today. How many of us have heard a friend or neighbor tell us that they bought their house for $25,000 way back when and now even with the temporary decline in house prices, it is still worth $400,000? I know that even I cringe when I hear those stories. How do you become equity rich like your neighbor? Take a step out in faith and experience the joy of owning your own home! Paint the walls whatever color you want and live there until YOU choose to move. Who cares what the current value is on the home if you're not going anywhere?

If you would like advice on whether this is the right time for you to buy, call me at (805)710-2415 or send me an email at Nancy@SignatureProperties1.com Nancy Puder is the owner/broker of Signature Properties Real Estate Sales & Property Management, located at 124 S. Halcyon Rd., Arroyo Grande, CA 93420. www.SignatureProperties1.com