Selling Your Home

When selling your home, it all comes down to one thing: market value, which is how much someone who is capable of buying your house is willing to pay for it, when compared to others similar, and in the same area.

It's pretty simple, everyone with an upside down mortgage it's trying to sell (as a short-sale), and at the same time banks are trying to sell all of the properties they have foreclosed on, so the supply is huge, and with prices going down, plus getting approved for a mortgage being tighter, most of the sales going on are being done by investors, most of them from other countries who are buying mostly all of the properties priced at current market value (very low prices, due to the high number of choices out there).

So if homes similar to yours and in your area are selling for close to $300,000, don't expect yours to sell for $400,000, they won't even go see it once they know the price.

If you hire a realtor to sell your home and you convince him/her to over price it like that, the only one who is going to benefit from it is the realtor because he might get a few leads of ready buyers who might buy your neighbor’s house who is priced right, while your house won't sell and the listing will expire, and you'll hate him by the end of the listing period (unless you are told upfront of the expected result)

Tips:

Fast sale and closest to market value

Put it up for sale with a realtor and price it up-to 10% below market value, or at least much lower than the competition. If you have time then wait for the ones priced better than yours to sell (which just keep coming), and then wait to see a buyer pays market value for yours (sometimes the more days your listing has in the system the less interested they become, they start thinking something might be wrong with it, sometimes the same happens with too much of a low price)

Craigslist

If you want to give your house away put up an ad on craigslist (which get lost in the list in a few minutes) and wait for all of the phone calls you'll get from investors and bargain hunters offering you about 30%, 50% and even 70% off the market value of your house, sure they'll buy it at those discounts, but you'll end up paying a lot more than you would've paid a realtor, and you'll get much less money in your pocket, plus you're letting all kind of strangers into your house.

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