Lender's Unaware of Obvious Tools of the Trade to Sell a Home at a Higher price
because my competition (REOs and Short sales), don't follow one of more of
the basic tenants for a quick sale.
1. Show the property in the best possible way (i.e., make cost
efficient improvements prior to putting it on the market, stage if
required).
2. Price according to recent sales.
This is not rocket science, it requires paying attention to details of the
home, understanding what's sold and available in the neighborhood, and
managing the coming out party for the house. This last year with the
exception two properties, I sold everything in 7 to 10 days. I would love to
teach the these REO asset managers how to sell, so they'd stop reducing the
value of neighborhoods.
The bank are too frugal when it comes to repairs and they have no idea of
color or material choices. I remember previewing a property in Weibel they
listed for $1M. They painted the interior white (huge mistake when you're
trying to create warmth), and they were installing the absolute cheapest
carpet you could buy (who wants renter carpet in luxury home). It would have
been better to remove all the old carpet and not paint it. They added no
value in the process.
-sunil
<http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i
d=293a138f64&e=ebe71b748c> Rehabilitation Cuts REO Sales Cycle by More Than
Two-Thirds: Study
The market's been flooded with REOs, and banks are struggling to get these
properties off their books and back into the hands of responsible
homeowners. According to Field Asset Services, the answer to moving these
properties faster is simple - with some pretty standard repairs, such as
fresh paint and updated appliances, the company's independent market study
found that lenders can cut more than two-thirds off the length of the sales
cycle.
<http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i
d=fe2d67caf4&e=ebe71b748c> > Read More
-sunil
SUNIL SETHI REAL ESTATE
Sunil Sethi / Broker, President, REALTOR, MBA / SUNIL SETHI REAL ESTATE
38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536
<http://www.sunilsethi.com/> www.sunilsethi.com
CA DRE#: 01173766
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