The Four Fundamentals of SELLING YOUR HOME:
- PRICING - When looking at comparables, see what has sold in your immediate area within the past three months, look at what is "for sale" and look at what sales are pending (in escrow/under agreement).
- UPLOAD Photos/Video - Stage your property, then take pictures and video. Professional photographers do this the BEST!!!
- DISCLOSE - Honesty is ALWAYS to best policy, so tell potential buyers what's wrong before they figure it out themselves. This will eliminate cold feet and/or re-negotiations.
- CLEANLINESS = $$$ - Potential buyers will likely pay more if the property is clean and clutter free.
Fannie Mae's Incentive to AVOID FORECLOSURE
This coming July, Fannie Mae will be allowing financially troubled home owners to either complete a "deed in lieu of foreclosure" or a short sale and be eligibile to apply for a new Fannie backed loan in TWO years. Presently, if you complete a deed in lieu of foreclosure, you must wait four years (5 years if foreclosed upon).
Mortgage rates SLIGHTLY LOWER
Freddie Mac reports for the week ending April 29th
- 30 year fixed dropped to 5.06% from 5.07%
- 15 year fixed held steady at 4.39%
- 1 year ARM rose to 4.25% from 4.22%
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SEE YOU AROUND THE NEIGHBORHOOD!!!