Tag Archives: listing home

Translating Real Estate Agent/Broker “speak”

Frederick Warburg Peters, the chief executive of Warburg Realty, has a framed New Yorker cover hanging in his office of an enthusiastic broker standing with a hopeful couple on a balcony. Clutching a clipboard and grinning, she points to a sliver of the Hudson River peaking out through a wall of buildings. In a carefully crafted listing, such a view might be described as a “partial river view.”

“It’s what I call a two-person view,” Mr. Peters said. “If one of you hangs out the window and the other one holds onto his legs, you can see” a tiny bit of the river or whatever view is being touted.

Brokers use all kinds of verbal gymnastics in blurbs that could be applauded if there weren’t a potential buyer at the other end of these colorful but ultimately obscure paragraphs. Since “the possibilities to create your own piece of New York are endless,” according to one TriBeCa listing I came across recently, your imagination could really take you anywhere, maybe even to one of the listing photographs of a virtually staged bedroom with walls where none currently exist.

There’s a reason for the euphemisms. Listing agents work for sellers, not buyers, and they have a delicate dance to do. They must simultaneously avoid offending their client while also conveying to the buyer that, say, although the kitchen was recently updated, the seller’s penchant for flamingoes may have led to some interesting wallpaper choices.

Brokers are also bound by federal and local rules that require them to use inclusive language instead of phrases like “great for families,” which might imply that those without a family would not be welcome. So, if you want to let a buyer know that an apartment would be an ideal space for children, you might list the nontoxic paints the seller used in the bedrooms, giving a nod to anxious parents.

read more at:  https://www.nytimes.com/2019/03/22/realestate/translating-broker-babble.html

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What Season Should You List Your Home?

It’s common knowledge verging on holy writ in real estate: Spring is the absolute best time of the year to sell a house.

Right?

But is there hard statistical evidence that listing your house in April, May or June — flowers blooming, birds chirping, lawns greened up after a tough winter — actually nets you a higher price or a shorter time from listing to sale?

Yes, but it’s not as clear-cut as you might imagine. There are important nuances in the data. Reviews of realty industry and academic studies suggest that while sales totals generally are highest in May and June, they actually reflect listings, contracts and buyer searches that occur earlier in the year.

A study of 1.1 million home listings between 2011 and 2013 in 19 major markets by the national realty brokerage firm Redfin found that, contrary to popular impressions, houses put on the market in winter — defined as Dec. 21 through March 21 — had a nine-percentage-point greater probability of selling within 180 days and at a smaller discount to the initial list price than houses put on the market during the spring months (March 22 through June 21). The advantage jumped to 10 percentage points over summer listings (June 22 through Sept. 20.) Winter listers ultimately sold for prices 1.2 percentage points higher than homes listed during any other season.

Though there were geographic differences, researchers found that even in areas with harsh winters, there were statistical advantages for listers. In Chicago there was a 13-percentage-point advantage in selling time for listings initiated in late December through mid-March compared with listings in the summer.

read more at: http://www.washingtonpost.com/realestate/spring-may-not-be-the-best-time-to-put-a-house-on-the-market/2014/04/17/0e28c3e0-c3e5-11e3-b574-f8748871856a_story.html

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Think Twice Before Selling Your Home At a Loss

If you really must sell for personal reasons, then why ask the question? Get the best possible price that you can.

However, if you are still in doubt and uncertain about selling now, then I can try to provide you with some guidance. But this is your decision to make. All that the pundits and the fortune tellers can do is make suggestions; we cannot see into the future.

Contact the appraisers at www.scappraisals.com to help you determine the value of your property before selling. 

The economy is moving forward, albeit slowly. Mortgage interest rates remain extremely low, which means people can buy or refinance as long as they can qualify for loans under the current strict mortgage lending policies.

Why do you want to sell? If you sell your primary house, where will you live? Have you considered the alternatives? Will you have a profit on either or both houses or are both underwater? That makes a big difference.

Can you afford to hang in there for perhaps another year, or is the cost of the two properties (mortgage, taxes, insurance and upkeep) hurting you financially?

Read more at: http://www.chicagotribune.com/business/yourmoney/ct-home-0420-benny-kass-20120420,0,2844472.story

Disclaimer: for information and entertainment purposes only