DIANNE ARNETTE

Sellers are still somewhat on the fence about pricing in some of our market areas of Tarrant County. When they are on the fence, still thinking my home is beautiful and I need to get $____for it, it is so easy to take the easy way as an agent and agree or make a promise that you may not be able to follow through with.

Two situations for me recently really brought this point home to me. I have one listing that due to a court situation, the sellers insisted they had to get $160K for the home. The home an older home, with some nice features, but with an outdated look, and in a neighborhood that some would find less than perfect, has had more than 10 showings in 8 weeks and no offers! The sellers are unhappy and still do not want to lower the price.

Next situation: Small and older home in a similar neighborhood and the seller is eager to sell. AFter I present the comparables for the area and explain that the number of homes pended in their price range is a good indicator of how many similar homes of the same description are likely to be under contract for the next month. I also explan that I suggest they price it so that it almost looks too good to be true and then have the home as perfect as they can make it for showings. They agree on the strategy. 3 showings and we have a full price offer.

Even though the housing sales reports sound promising in general, the market is still tentative in many areas. The markets within the local market are all different, and there are people who are so discouraged about selling their homes, and their home values, that they are considering walking away even though they can make payments.

AS REALTORS, (only members of the National Association of REALTORS are REALTORS) it is our professional responsibility to tell the truth and show the figures to prove the accuracy of our pricing strategies. SEllers should know the whole truth before they sign the listing agreement. Every situation is different, however, the more realistic the seller is, the happier he will be when the home actually performs.

It may be a good strategy to have a price disclaimer in your file that you ask sellers to sign when they insist that they want a price that above the recommended price for that area. Agents cannot do enough marketing to sell and overpriced home.........and if they did, it might not appraise!

Most of the Fort Worth/Tarrant County public has been aware that the $8000 tax credit would not last forever....and that time line is nearing an end. Many changes are on the horizon which simply means that buyers and sellers must know what they are and act soon to take full advantage.

FHA guidlines are getting ready to change to a maximum of a 3% sellers contribution to a buyer. That change may take effect as early as April 3, but the date is not set just yet. April 3 is the last date that has been mentioned.

The 8K tax credit for homebuyers who qualify is over on April 30. This means that contracts should be written well in advance of that date with a closing date NO LATER than June to be sure of being "grandfathered" for that credit.

I am talking hard and fast to my buyers who want this one time (we think) tax break on their home purchase. Fence sitters need to jump off the fence and put in the time to get the home and have the credit. It will really mean a lot to any buyer in any price range.

If you are a buyer in Tarrant County and are not on a solid plan to find your home...I am happy to refer you to my website: www.diannearnette.com where you can search the most current MLS listings. Don't wait, this is an opportunity that is significant.

22 DEGREES OUTSIDE and not a day that I want to be out showing vacant and freezing homes!

How about you? What are you doing on this refrigerated day almost Nationwide? I decided to make the best use of this day (Texans are very handicapped when we have sub-freezing temps...) so contacting my database has been a good thing. Most people are home and the topic of how to keep your pipes from freezing is a good one. I have a checklist that is helpful on a day like this one (next 3 days will be the same), so this is a helpful contact, for me and for them. A Win-Win. I like that...

The above photo is one that I took on Christmas Eve in the Fort Worth Botanic Garden just as it began a rare snow event for Christmas in Fort Worth Texas. Please see my blog at http://youwanttoliveindallasftworth.blogspot.com/ for more information about Fort Worth. Sign up and follow me there and on Twitter at FortWorthhomes....I talk about more than real estate.

www.diannearnette.com

Attention all BUYERS and SELLERS in Fort Worth and in Tarrant County...............Have you Noticed?

It seems that you don't pick up a newspaper or look at a TV commercial that you don't see that the latest best buy is! As the economy receives more focus, the retailers just keep lowering their prices or offering incentives, or claim they will beat the "best price" on just about everything.

There are incentives to buy cars, deoderant,toothpaste, symphony tickets, 2 for 1 dinners, and it goes on and on...then in neighborhoods, beautiful homes sit, with very vew showings...and the question becomes, should the Seller lower the price.........Good agents run, yet again, another market analysis....they lower the price by $5K and wait to see how that effects the number of showings............not much.

The issue becomes...........a question. "Are there any BUYERS actually looking in the area?"....Then a thought comes to mind...If the item is priced in the market range, and their are no other issues.....should we still lower the price? My retail background kicks in with this concept...."If there are no buyers, there is no reason to have a sale at this time....?"

How do we know if their are buyers for the area or not? Maybe a test open house on a "wide open, no football games Sunday"....if there are attendees, you must have buyers interested in the area......if there are none...maybe there are few buyers right now.

As we try to sell homes and we look at the numbers..........It is true that Price is the huge motivator...but there have to be buyers who want to buy....

............My personal thought is combining the two ideas........get the price to the bottom 1/3 values for the area and if the home is an obvious good value..........the lookers should show up.

Food for thought....if you need help anywhere in Tarrant County...

Just contact me........I am a thoughtful agent and want to help you and your family.

Picture this. The agent meets with his buyer client, gets him qualified, and begins the search for a property. (Setting the stage)

Scene 1: Agent and buyers look at 3 properties in the price range of affordablitiy and all priced within 10K of each other. One property is far and above the other 2. It is a perfect "10", while the other two are "7" and "5", a foreclosure.

Scene 2: Buyer looks at the property, even inspects the roof, which is clearly stated as a new roof. Verbally says this is the property that he wants. Decides that he will submit an offer. Agent and client go to the offer to write the offer.

Scene 3: Offer is on paper, buyer looks at it and at the comparables that the agent has provided. They discuss the comparables and how the lower comps are mostly foreclosures or not in the same condition as this "10" that they are writing the offer on. But several homes in the same neighborhood have sold at or above the list price on the subject property.

Scene 4: Buyer finishes looking at the papers and says he wants to make a change in his offer......He wants to lower his offer to lower than the lowest sold comp on the list. Agent is surprised, asks why the change from the offer that is already on the contract per the buyer's direction. Buyer says that he just wants to see if they will take it. If not, he can then decide if he wants to increase his offer or counter.

..................Enter off stage.....Client has called his relative in another state that is more distressed than we are in Texas........the relative has told him that he is offering too much. Therefore, he wants to take the advise of the relative out of state rather than believe the comps and the local agent that is representing him.

As a strong agent in my area, this senario almost makes me ill, and yet it is happening far too often in all areas. The strong influences of the "stories" that people hear and choose to believe is difficult to accept.

As agents, we must represent our clients, even when they are making incorrect and erroneous choices.

Final Curtain: Agent is sitting in conference room with buyers and shows them the contract that was returned with a slash and REJECTED written across the front. The buyers are looking puzzled and ask why they didn't counter the offer. Agent carefully explains that to make an offer on a perfect property that the numbers show is 1. priced correctly, and 2. in perfect condition is sometimes insulting to sellers. They take a position that they will not counter the offer. In this case, it is up to the buyers to be gentlemanly and submit a valid and reasonable offer that a seller would want to work with. If the buyers are serious about trying to purchase this home, they will come back with a new and clean offer and hope that the sellers will now work with them.

If on the other hand, the buyers want to keep looking and keep making offers that are unrealistic on non-distressed properties, the agent may want to gracefully help them get with another agent who has not learned the lesson of the value of time.