Getting out of the way is essential for sellers

Sellers need to think of themselves as toreadors and buyers as bulls. (Flickr photo by Matt Juriado)

Listing agents hate it when sellers stick around during open houses or other showings.

Most owners can’t keep their mouths shut, pointing out improvement and perceived advantages of their home.  They tend to shadow prospective purchasers, who usually make the rational decision to escape swiftly.

Their presence intimidates buyers, who become reluctant to confide in each other and their agents.  They also shrink from opening closets doors, cabinets and appliances.

However many times sellers hear that they are not wanted, I keep running into those whose presence interferes with the very objective they are trying to reach.

The advice to clear out is one of several mistakes listed by RealtyTimes columnist Julie Wyss, an associate broker in Silicon Valley, and a few others are worth repeating Continue reading

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Perfect pitch may hit the wrong chord of law

(Source: the U.S. National Archives)

The headline went like this:

“Can I Buy Your House, Pretty Please?”

In the Wall Street Journal, the article by Joann S. Lublin noted that the housing market has changed in some areas.  As the subheading observed:

With inventory tight and prices rising, buyers in competitive markets like Silicon Valley and Seattle are returning to a boom-era tactic: writing heartfelt letters to sellers explaining why they should win the house. Signing with a paw print.

The piece is accurate in pointing out that an emotionally charged letter from a buyer can sway a seller who is considering more than one offer.

Referring to the missives as “pitch letters” or “love letters,” Lublin correctly reported that Continue reading

Weekly Roundup: IRS targets million-dollar loans

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out the other of today’s posts and look for Out and About early next week.

With the sale of her two apartments, perhaps she’s finding bliss

What would Miss Piggy say about the sale price of her old home?

An actor’s hoping to see live buyers and an author wants $745,000 on Artists’ Row

Case-Shiller records downward trend in January

Percentage of forced sales is rising, putting pressure on prices

Pending home sales increase in February but inconsistently across the country

1.8 million homes now counted as shadow inventory, down from 2 million one year ago

It is no mystery why new homes lag sales of previously owned ones

Slight increase posted for 30-year and adjustable-rate loans

Lying borrower gets a new home complete with bars

Homeowners with more than $1 million mortgage face Continue reading