ROBERT MITCHELL
ROBERT MITCHELL (559) 250-3442 Email ROBERT
Robert Mitchell (559) 250-3442 "Working full time, all the time, turning dreams into realty."

Selling A Home In A Slow Market- Common Selling Mistakes Home Sellers Make


Pricing home too high-  Your asking price should not be based on your financial needs or your emotional perception of the value of your home.  The Best way to get the most money for your home is NOT to overprice your home!! Overpriced properties tend to not only take longer to sell but usually end up selling for less than what they could have been sold for.  While sellers are holding out for the most possible money, the market is continuing to go down monthly.  This is why it is important to price the home right the first time, so you don't end up "chasing the market down"!!

Mistaking appraisals for market value-  An appraisal done to qualify for a refinance loan may estimate the value of a property to be higher then it actually is. The market value of your home could actually be lower, based on the most recent information regarding property sales in your community.

Forgetting about curb appeal-  A buyer's first impression can decide wether they even go inside your home. It's estimated that more than half of all homes are sold before the buyers ever get out of their cars. A property that is not clean or well maintained often suggest hidden defects and buyers could reduce their offer price accordingly.

Over improving a home-  Home owners often spend large sums on the wrong upgrades to their home expecting to recoup this cost in the sales price. Ask your Realtor which upgrades are cost effective.

Limiting the market of the property-  Good marketing distinguishes your home from hundreds of others on the market. Your Realtor should be able to use a wide varity of marketing techniques.

Choosing the wrong Realtor-  Many homeowners list with the agent who tells them the highest price, or worse yet, a friend or family member that works Real estate part time.  It is important to find an agent who is not only well experienced, but an agent that is in the business full time.  Would you want a doctor or lawyer working for you that had a second job?  More experience could mean a higher price at the negotiating table, selling in less time, and with less trouble. WIth millions of dollars worth of sales, years of experience and countless homes bought and sold, you will be well taken care of by Robert Mitchell and his team!

Failing to take the first offer seriously-  Homes are most saleable when they are first listed. Mant sellers mistakenly believe the first offer is just one of many offers to come. In fact, the first offer usually ends up being the best offer and should be seriously considered.

Trying to "Hard Sell"-  Good Realtors let the buyers discover the home's features on their own, pointing out only features they are sure are important to them. Buying a house is always an emotional and difficult decision. Many sales are lost by overselling. Be friendly and allow prospective buyers to comfortably inspect your home.

Not Knowing Your Rights & Responsibilities-  The agreement you sign to sell your property is a legally-binding contract. Know what you and your Realtor are responsible for before signing the contract. This is where an experienced agent can save you thousands of dollars and protect you from major liability. 

Trying to Sell to "Looky-Loos"-  Often buyers who show up without a Realtor are a good 6-9 months away from buying and are more interested in seeing what is out there, than in purchasing your home. A Realtor should be able to find out a prospective buyer's intentions, savings, credit rating, and overall purchasing power.

 

Why you should list your home with me! 

I will personally create a custom marketing plan to best suit your needs!

My affiliation with the Valleys largest and most technological Real Estate company in the Valley!

Over 8 years of experience!

Over $50 million in sales!

Constant agent access! 

Professional signage! 

24 hour info regarding your home for any and all buyers

Personalized website just for YOUR home! 

I will personally help you Stage your home!

Regular open houses!

Contact 500 of your surrounding neighbors announcing that your home is for sale!

TV advertising!

Mass emails to all Realtors at ALL valley offices!

Your home advertised in local publications! 

Tremendous internet exposure with an agressive marketing plan utilizing the Web with placement on over 25 Real Estate web sites...

FRESNOREALESTATE.CN

LONDONPROPERTIES.COM

POINT2HOMES.COM

BASE.GOOGLE.COM

HOTPADS.COM

REALESTATE.YAHOO

CYBERHOMES.COM

THEREALESTATEBOOK.COM

FRONTDOOR.COM

TRULIA.COM

ZILLOW.COM

OODIE.COM

HOMEFINDER.COM

VAST.COM

CLRSEARCH.COM

HOUSELOCATOR.COM

THEHOUSINGPAGES.COM

 

 

 

 
 


Forclosure/shortsale Tax News



Daily Real Estate News  |  October 5, 2007
House Votes to Eliminate 'Phantom Tax'
The U.S. House of Representatives voted on Thursday to get rid of a tax burden for home owners who have had a loan forgiven or foreclosed on their home because they were unable to make their mortgage payments. The Mortgage Cancellation Tax Relief Act, H.R. 3648, passed by a vote of 386 to 27. Similar legislation is making its way through the Senate.

Since the early 1990s, NAR has supported such measures to eliminate the "phantom tax" on financially-strapped home owners.

“Congress made a good decision that will affect many Americans who find themselves in a truly bad situation,” says NAR President Pat V. Combs. “Changing the IRS code is an issue of fundamental fairness. It would relieve a tax burden at a time when an individual or family has experienced a true economic loss arising from the sale or loss of their home. These families are already in financial distress and are most likely unable to pay additional taxes.”

The current tax code requires a lender who forgives debt to provide a Form 1099 to the IRS stating the amount the borrower has been forgiven. This disclosure applies whether it is a short sale, foreclosure, deed in lieu of foreclosure or any similar arrangement that relieves the borrower of the obligation to pay some portion of their debt. If the property is sold at foreclosure or is sold for less than was borrowed, that difference is considered income and is subject to the tax.

H.R. 3648 would ensure that any amount forgiven on mortgage debt secured by a principal residence will not be taxed. The legislation has a provision to safeguard against abuses. That provision is similar to one that already exists for commercial real estate owners and would treat commercial and residential property equally.

"This is not only about the subprime turmoil we are currently experiencing," Combs says. "This is also about families who have lost their home or a need to sell that home for less than the amount owed on their home mortgage because of job loss, divorce, health issues, a decrease in the value of the home or other unfortunate circumstances. Clearly it is unfair to tax people on phantom income when they most likely have no cash with which to pay the tax."

In other news, another bill has been sent to the House Judiciary Committee that would revise the bankruptcy code to allow judges to order mortgage lenders to ease terms for home owners in bankruptcy proceedings. Currently, mortgage lenders can foreclose against a home owner in default 90 days after the filing of bankruptcy.

— REALTOR® Magazine Online


Free Info to Sell your Home



Selling your home is an involved process that affects your family and your future.  Before you begin this process, you'll want to ensure that you have the most up-to-date information.  When should you sell?  How do you get the best price? What kinds of renovations should be made prior to the sale? 

These home selling reports will assist you in answering the many questions that arise during the home selling process.  When you're armed with the right information, and an experienced real estate professional, you'll be closer to reaching your goal - selling your home fast, and for the best price.

Please contact me if you have any questions about selling your FRESNO home. 

Below, select desired reports and complete the form provided.



Common Selling Mistakes

Learn the top nine selling mistakes, and what steps you can take to avoid them.

Selling Your Home

Remember what first attracted you to your house when you bought it? What excited you about its most appealing features? Now that you're selling your home, you'll need to look at it as if you were buying it all over again.

Surviving the Sale

Getting a good price for your home is important, but minimizing stress and simplifying the selling process can be just as essential.

The Right Selling Price

When you’re selling your home, the price you set is a critical factor in the return you’ll receive. Learn several factors to base the assessment of your home.


First Name: 
Last Name: 
Email: 
Phone: 
Comments: 
  * * Maximum of 2000 characters