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Tax Credit Information Update

by The Pat Wattam Team

Seems everyone jumped the gun last week on the plan to allow first time home buyers to take advantage of the Tax Credit at closing as part of a down payment.  Seems HUD is concerned that this will create more bad loans and have shelved the idea for now. 

It is an interesting thought that this could create more bad loans since the buyers now have to have a pretty good credit score to even buy a property. It will be interesting to see how this plays out in the next couple of weeks!

Get More Potential Buyers To Your Home!

by The Pat Wattam Team

The biggest issues most sellers have is how to get more buyers in to see their homes.  They know the more people who see it, the better chance they have to sell.  Then we have the other group, who have all the showings and no contracts, and they too, want more buyers in to see their house, because they know if they have even more showings, they will find the right buyer and have the home sold!

Both sellers have the exact same issue.  It's sort of like fishing.  If you know where the fish are biting, and put your line in the water, you might get a nibble or two.  If you could put your bait where you KNOW a big school of fish are, you would surely get a bite.  But what if the fish don't like your bait, then you are waiting for the right kind of fish to come along.  Or, you can change your bait to match what all those fish want and have a nice fish dinner that evening!!  O.K., I'm not a fisherman, but my dad and sister loved to fish and knew where to go!

I just had a seller call to let me know that they had not been really serious about selling before, but their circumstances had changed and now they really needed to sell their house.  They had had few showings over the past couple of months but were resistant to changing their price.  With this new information, we made a price correction that I thought would attract buyers, and low and behold, within days we have had more showings than they have in all the months they have been on the Market

When your house is PRICED RIGHT, you will have all the showings you can handle.  You HAVE to find that price that attracts the buyers.

One of my other sellers has the opposite problem.  They have had 36 showings on their property, which means, we have the right price to attract the buyers.  However, they don't have their home in the right CONDITION, so the buyers come and the buyers leave.  The seller says "I can't put any more money in the house, I can't reduce the price because of what I owe, we just need the right buyer!"  My response to that is, If you had done the repairs, the house would have sold and you sould not have paid the house notes all these months.  If they don't do anything differently, then, the house will still be for sale 6 months from now, with all that wasted money on payments (and not much goes to principle so it really is wasted money!).

Pricing the home right will bring in the buyers.  By preparing home for sale to get it in the right condition, then you get the sale!!

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Pat Wattam
RE/MAX First, Independently Owned and Operated
4750 Sherwood Common
Baton Rouge LA 70816
Office Direct: 225-298-6900
Office Main: 225-291-1234
Fax: 225-295-1234

RE/MAX First
Each Office Independently Owned and Operated
Main: 225-291-1234

Licensed by the Louisiana Real Estate Commission