Good Day everyone – we covered several items on today’s real estate radio show, one of which had to do with overpricing a real estate listing.
This does create issues for both sellers and buyers. On the sellers side, it creates distrust between them and the real estate industry professional. On the buyer side, it wreaks havoc with real estate decisions and creates a rift between the buyer and seller.
Here is how a Santa Clarita or Southern California real estate seller can protect themselves. Make sure you are looking at the comparables and make sure those comparables are within the same tract, or within 1/2 mile, or within 1 mile. These “radius” amounts are applicable for Urban Areas. Rural areas, when it comes to real estate comps are measured in larger sections, 3+ miles.
You must, as a real estate seller and real estate buyer, look at the comps yourself. While some agents hate to give them up, it’s very necessary.
For every real estate seller we are going to interview with, we send the comps directly to them before we meet. This gives them a chance to review them. We also send out the real estate contracts, so they have a chance to review them. Another item we send out to our real estate sellers in the Santa Clarita Valley and within the rest of Southern California is something called a net sheet. It does just what the title implies – It will show the seller their NET profit after paying off all loans and paying to sell their home.
Enjoy our Foreclosure Update for the Santa Clarita Valley Cities. We covered the current inventory of the Foreclosure type and have spoken about other real estate resources which are provided for our clients within the online realm.