Sandee Abern and Clint Wolf

"The Dynamic Duo of Real Estate"

The most common home buying myths…

Myth #1: It’s usually a good idea to price your home high and then negotiate down.

Fact: Pricing too high can be as bad as pricing too low. 

Most showings occur within the first few weeks after a home is listed. This is the time when a listing is "freshest", 

meaning that it has not been sitting on the market forever. If you list your home too high, there's a good chance 

that you will miss out on buyers who were looking in the "correct" price range. You may not even get an offer from 

these buyers, because they may think that they can't qualify for your home. By the time that you reduce your price to 

fair market value, you will have lost out on many potential buyers who would have otherwise looked (and possibly 

purchased) your home if it had been priced right in the first place. In addition, your listing will have lost (at least) 

the first few weeks of market time, and will no longer be a "fresh" listing. 

Myth #2: Minor repairs can wait…there are more important things to do.

Fact: Minor repairs can make your home more marketable and can pay for themselves.

Most buyers are looking for a home that they can move right in to. If your home starts to attract buyers that are

looking for a "fixer-upper", they may ask for decorating allowances, repair allowances, etc. These discounts

may amount to more money than it would have cost you to make the repairs in the first place.          

Myth #3: Once a buyer sees the inside of your home, curb appeal doesn’t matter.

Fact: Buyers may not even look at your home if it’s exterior is unappealing. 

Buyers and/or their agents sometimes do "drive-bys" to see if it is even worthwhile to look at a home. If your bushes

are unkempt, or if the paint on your house is peeling off, you may miss some showings. On the other hand, a 

beautifully maintained exterior can help draw in potential buyers. It is very important to remember that your home

is "competing" with the other homes on the market. Your home should be inviting and appealing to as many

home buyers as possible.  

Myth #4: Your home must be every buyer’s dream home.

Fact: If you get carried away with repairs and replacements, you may end up 

over-improving your home.  

As we mentioned before, you should make necessary repairs around your home to make it as

appealing as possible. You shouldn't, however, put thousands of dollars into unnecessary repairs or modifications,

because you may not get your money back. The key is to fix and maintain the RIGHT things in your home. What 

are the RIGHT things? That is one of the questions that an excellent Realtor can answer for you after they look at

your home. Do you need to find an excellent Realtor? Click here!

Myth #5: I can attract more buyers to my home if I sell FSBO.

Fact: Almost all buyers buy their homes with the help of Realtors. 

According to the N.A.R., 90% of home buyers used a Realtor to find their new home in 2005. If you choose to 

 go it alone, you may miss out on this huge "pool of buyers." Your home may take a lot longer to sell 

and you may get less money from it than if you had listed your home with a Realtor in the first place.  

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Coldwell Banker Residential Brokerage

Office: 847-465-3667

Cell: 847-409-4001 or 847-409-4003

E-Mail us by clicking here.