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Home Selling Class - Boston - April 12, 2012
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Home Selling Class - Boston - April 12, 2012

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  • 1. Selling in Today’s Market Boston Area April 2012
  • 2. Agenda• Market Conditions• Best Times to Sell• How to Prepare• How to Price• Transaction Summary• Working with Redfin
  • 3. Market Conditions
  • 4. Case-Shiller: Boston v. 20-City 250.00 200.00 150.00 100.00 50.00 0.00
  • 5. Case-Shiller – By the NumbersBoston Area Down 2.8% year-over-year Peak was September 2005 Down 18.9% from peak Currently at February 2003 prices20-City Composite Down 3.8% year-over-year Peak was July 2006 Down 34.4% from peak Currently at January 2003 prices
  • 6. Suffolk Feb. Stats for Condos
  • 7. Suffolk Feb. Stats for Condos
  • 8. Middlesex Feb. Stats for Homes
  • 9. Middlesex Feb. Stats for Homes
  • 10. Cambridge Feb. Stats for Condos
  • 11. Cambridge Feb. Stats for Condos
  • 12. Where is the Market Headed?• Supply of homes is at a five-year low, but signs are pointing to a slight increase in inventory this spring• Foreclosure inventory has been driving price declines, but number of them are decreasing
  • 13. Best Times to Sell
  • 14. Right Now!!• Low interest rates = lots of buyers• Low inventory causing multiple bid situations and driving up prices
  • 15. Preparing to Sell
  • 16. Tips to Making Your CurbAppealing• Clean up and fix your yard• Fix your mail box and add house numbers if missing• Wash off your siding• Flowers in pots, weed, mow & edge lawn• If your house needs a quick refresher, paint the front door instead of the whole house!• Park your cars in the garage, not the driveway
  • 17. Tips to Staging Your House• Declutter• Get rid of ALL smells• Get the dust and film off of everything• Make sure all electronics are turned off• Make all beds & add throw pillows to couches• Put fresh flowers in rooms• New fixtures and drapes in the bathroom or kitchen• Neutral colors
  • 18. Agent-Contract Audits
  • 19. 10003220
  • 20. Price & List Strategies
  • 21. Redfin Home Pricing Tool
  • 22. Pricing: An Art & Science• Consider the current markets • Housing markets • Mortgage rates • Economic and other factors• Consider the price • Competitive environment • Number of active comps • Comparable homes in your area • Sold (within 90-120 days) • Appraisal concerns
  • 23. Pricing StrategiesWhat if we over price? What if we under price?• Loss of Interested Buyers • Stand out from • Eliminates Offers = Lower competition Price • More buyers = more• Long days on market offers…• Need price-reduction • Lower carrying costs plan • Risk: one buyer• Hope: one buyer• Appraisal concerns
  • 24. Negotiations and Tactics• Understanding current market conditions• Personal vs. business• Evaluate entire offer • Price • Settlement date • Inspections • Financing• To counter or not to counter
  • 25. After Offer is Accepted…• Agent • Loan Application• Alternate Agent • Title Contingency • HOA Contingency• Team Coordinator (condos)• Mutual Acceptance • Inspection Contingency• Earnest money due • Financing Contingency • Closing
  • 26. Working with RedfinWorking with Redfin
  • 27. Why Redfin Stands Out• 1.5% Listing Side Commission (minimum $5,500)• Real-Time Market Data (Client listing stats page)• Professional Photos & Interactive Floor Plan• More Exposure• We split up to $250 in cosmetic preparation(Cleaning/Staging/Painting)
  • 28. Client View Listing Statistics
  • 29. Client View Listing Statistics
  • 30. Perfect Pictures
  • 31. Pro Photos Make a Big Difference
  • 32. Boston Virtual Imaging Interactive Floor Plan
  • 33. 90% of Buyers Search Online 430,000 visits in Boston area for January 2012 (Source: Internal records)
  • 34. Thanks For Your Time!Please fill out the survey we’ll sendtomorrow along with the slide deck. We’dlove to get your feedback on how the classcould improve.
  • 35. Shawn FlynnListing Specialistshawn.flynn@redfin.com617.823.9122

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