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Sellers: Proceed with Caution to Instigate a Bidding War A buyer suggests that she'll purchase your house if you lower the price by several thousand dollars. It reminds you of a similar offer you rejected when the property first hit the market. Should you and your REALTOR get a bidding war going between the two prospects at this point in order to drive the price up? Proceed with caution. As your Realtor may warn you, igniting a bidding war between buyers can backfire leaving you empty handed without a buyer in sight. Let's first cover the most common
Mortgage RatesNational averages as of August 31, 2000:
30 yr. fixed: 7.65%15 yr. fixed: 7.39%1 yr. adj: 7.16%30 yr. jumbo: 8.06%
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questions sellers' ask when working with multiple buyers, followed by suggestions on how to maximize offers without alienating prospects.
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After the Move: Acclimating to Your New Neighborhood Whether you're moving across the country or to a suburb 30 minutes away, you'll go through an adjustment period following your move. Particularly if you've moved to another state, you'll face the initial uncertainty of knowing absolutely nothing about where the "important" landmarks are: the nearest grocery store, the pharmacy, the gas station, the library, the supercenter that carries your necessary household cleaning items, and of course, the all-important movie-rental store, coffee house, movie theater and mall. Once you've located the basics, you'll want to expand your horizons and get to know your new hometown's cultural offerings. Where do you start? What's worth your time, and what isn't? Some newcomers remain hermits in their own homes for several months before they begin to take the initiative and venture out. The fact is that the sooner you begin to explore your new hometown, the sooner you'll establish a comfort level in your surroundings, and the more positive your experience is going to be. Moving to a new hometown is like any other new experience in life: You get out of it what you put into it. Don't waste any
Enhance Your Home's Drive-Up Appeal It's never a bad time to think about ways to improve your home's image on the outside. But if you're planning on placing your house on the market any time soon, you simply can't afford not to brush up its exterior. In the rush to fill out paperwork, search for a new home, obtain necessary financing, etc., too many homeowners fail to consider how the outside of a house determines in a matter of seconds whether prospective homebuyers out for a drive are going to stop the car and pull out a flyer or call their REALTOR® and tell them they've found a home they want to view. You should certainly conduct your own personal inspection and inventory of your home's exterior before you place it on the market, but the effectiveness of this exercise is questionable. You're too close to the subject at hand, for one thing. And, whether consciously or unconsciously, you're avoiding any flaws for which you'd have to cough up a lot of cash to repair. The reality is that some of those flaws probably aren't going to pass muster with a buyer's home inspector, so it may be simply a question of whether you pay now or later to repair them. So don't rely on your own assessment to determine just what needs fixing and improvement. Have your Realtor size up the outside of your home. This is no time for your Realtor to be nice; ask him or her to be brutally honest. Your Realtor's
How to Buy a Home in a Sellers' Market Trying to buy a home in a sellers' market is a little like not having a date on Saturday night. Everyone else seems to be having all the fun but you. Since there are more buyers than homes for sale in a sellers' market, homes sell quickly and for higher prices than they normally would. Seeing homes in which you are interested sell out from under you and at outrageous prices can be frustrating and discouraging. You continue to drive your favorite neighborhoods, but begin to lose hope that you'll ever get there first and for the right price. What can you do? If you are in a sellers' market, and wish to buy a home, flip the odds back in your favor. Do the following: Be prepared to buy. Get your finances in order, clean up your credit, and talk to a mortgage broker
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Bonnie Fagoh E-mail: firstname.lastname@example.org Web: WWW.TAMPACOASTALHOMES.COM 813-390-7606
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