Because real estate
agents in New Orleans see everything in the market, we have a pretty good idea
about why some houses sell (and why others sit on the market for years). Whether
as buyer or seller, anyone planning to enter New Orleans’s real estate market this
summer can benefit from some of the tactics
and factors that New Orleans real estate agents keep in mind when as they go
about the business of making home sales happen:
When Speed
Matters…
When the overriding goal is a quick sale, leading with a
price slightly lower than what comparables suggest it is really worth is the
surest tactic. When a home is priced at only a fraction below market value, real
estate agents know it will draw much more attention than higher-priced
neighbors. Most sellers have a built-in resistance to the very idea!—often because aren’t aware of how a home loses fair
value as it sits on the market. Pricing a listing slightly lower right out of
the gate can mean minimizing the likelihood of a lengthy DOM (Days On Market)—and
the possibility of a disappointing final sale price.
Preapproval:
It’s Not Final Approval
Most real estate agents in New Orleans have seen this more
than once: a buyer who is preapproved for a mortgage begins running up credit
cards in preparation for the move into their new home. Because lenders often
re-examine a homebuyer’s credit during the closing proceedings, the result can
be a higher than originally quoted interest rate, or even an outright denial. IOW,
it’s wise to continue to spend frugally until keys are in hand!
It’s a Long Process
Real estate agents know that selling a house takes a finite
amount of time, beginning with preparation, through marketing, then paperwork,
then finally, closing…and that’s not counting any unexpected turns-of-events
that sometimes just happen. Whether you are buying or selling, it pays to be mentally
and emotionally prepared to remain as flexible as possible with all the other
ongoing events in your life until the transaction is a done deal.
If you’re considering buying or selling a home in New
Orleans this summer, there’s every reason to start preparing as early as possible.
Contact me for an initial consultation—we can set up a timeline that
will be the first step in keeping you well informed from start to finish!
Terez Harris NOLA Real Estate Group
(504)297-2619
Harris.Terez@gmail.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers licensed in the state of Louisiana.
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