Utah Home Seller's Info
Can any one help me sell this house????
Market Reality 2008
First let's be brutally honest. With everything that’s going on in the mortgage industry & the housing market these days it is not easy to sell a house. The Park City/Heber Valley market has not escaped the market turmoil. It is not unusual for previously top agents to actually sell less than 10% of the listings they take in the 
current market. That means if you list your home for sale there is probably less than a 1 in 10 chance that it will actually sell. But people are still buying & selling and moving in & out of homes. If you bought your home at the peak of the market and you now want to sell and make a profit now is not a good time to sell.
Here in our market we are now seeing the increases in foreclosures & short sales that started in places like California & Florida about 2 years ago. As more of these properties come on the market prices will continue to be forced downward. I have spoken with a number of people who made comments like: "My agent says there are just no buyers out there right now." Yet when I search the MLS for similar houses I find that buyers have actually bought similar houses and moved in.
Sadly many agents do not know how to accurately determine true market value and most home owners think their house went up in value even though values are dropping nationally. Appraisals can be a guide but appraisal values depend on the purpose of the appraisal. Common reasons for appraisals are buy out the spouse in a divorce (usually the lowest number), tax assessment, mortgage, refinance, insurance, and selling out to the spouse in a divorce (usually the highest number) Unfortunately the tax assessor can be as much as 2 years behind in correcting for market downturns.
When putting a house up for sale in any market but especially in the current market you must determine true market value for the next 30 to 60 days. True market value is the price that will cause a sale to occur in a reasonable period of time. Pulling a few comparables is not enough in today’s market. For example if a house just like yours sold 3 months ago for $XXX doesn’t mean that that’s true market value for your house. For example, if the market is declining at 2% per month than you need to be at least 6% below that amount today and 8% by the time the month has ended.
But take heart. If you really need to sell now I have developed a system that can get the job done for you. It all starts with a TOTAL MARKET OVERVIEW. This is an in-depth study of the whole market so we can see exactly where your home fits in the overall market. This will include not only sold listings but pending, expired & active listings. Sometimes we will study what happened in the last month or two and compare that to one or more previous time periods so we can better predict the direction the market is taking.
If you are serious about selling your home I can help. Call (435) 671-2528 to begin the process. I will create a TOTAL MARKET OVERVIEW for your house and then we can sit down and review it. You can interview me and I can interview you and we can decide if we can work together.
Access Totally Free Reports here!
How to Price Your Home to Sell Fast!! PDF
8 Deadly Mistakes That Could Cost You Thousands!! 5 Minute Audio
Special Insiders Report: What You Must Know to Sell Your Home for the Most Money Fast! PDF
22 Critical Questions to ask a Realtor Before You Sign Anything! PDF
Find Out the Truth About the Local Real Estate Market! Web Page
8 Reasons Your Home Hasn’t Sold Yet! PDF
Big Home Remodeling Mistakes! PDF
When Might the Market Improve? PDF
Why do You Need to Use a TOTAL MARKET OVERVIEW? PDF
