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The Right Price

Real Estate Today opens doors for buyers and sellers with critical and credible information on the real estate market. It’s fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.

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Jessica Lautz, THE NATIONAL ASSOCIATION OF REALTORS®

Jessica Lautz is the Director of Member and Consumer Survey Research for THE NATIONAL ASSOCIATION OF REALTORS®.

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Kevin Sears, REALTOR®

Kevin Sears is a REALTOR® and the Broker-Owner of Sears Real Estate in Springfield, Massachusetts, with over 20 years of helping people buy and sell real estate. Kevin was the 2010 President of the Massachusetts Association of REALTORS® and in 2005 was named its Massachusetts REALTOR® of the Year. Currently, Kevin is the 2015 Fundraising Chair of THE NATIONAL ASSOCIATION OF REALTORS®.

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Lance Coyle, Appraisal Institute

Lance Coyle is the 2014 President-Elect of the Appraisal Institute, a global professional association of real estate appraisers with some 22,000 members. Lance has been involved in real estate appraisals for over 25 years, has been a guest lecturer and author, and teaches advanced courses at the Appraisal Institute.

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Ashley Dietch, REALTOR®

Ashley Dietch is a REALTOR® with SVG Real Estate Firm in Grand Rapids, Michigan… and she’s also a REALTOR® Magazine 30-Under-30 Honoree and an Accredited Buyer Representative.

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What Should – and Should Not – Be Involved in Pricing your Home?

We’re going to tackle one of the toughest questions there is – about price: How much should you sell your house for?

If you’re thinking about putting your house on the market, you probably have SOME idea about what it’s worth. But – before you put that number in stone, you need to realize that almost everyone thinks their home is worth more — than it really is. That’s because we all love our houses. So of course, whatever you love about your house makes it worth more than the other houses in your neighborhood, right? Well – OK – maybe. But usually? That’s not the case.

In fact, quite often, most homeowners use what you might call ‘bad math’ to figure out the value of their home. It’s perfectly natural, perfectly logical, and it’s something we ALL do. But – when you look at it closely, you’ll find the numbers don’t add up. So let’s look at what NOT to do when you’re figuring out the value of your home. And then? We’ll look at what you should do – to arrive, at the right price.

Number one: remember that time you were out front, raking your lawn, and the neighbor stopped by? He said your house was so beautiful, it would sell for more than any other house in the neighborhood. And you never forgot that. It’s one of the most common experiences homeowners have. A casual comment about your home’s value – gets in your head. And you just won’t let it go. Bad Math? Yep. Your neighbor’s compliment was just that – a compliment – with no numbers to back it up.

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Jonathan Hall, REALTOR®

Jonathan Hall is a Graduate of the REALTOR® Institute and a Certified Residential Specialist… among the designations he holds from THE NATIONAL ASSOCIATION OF REALTORS®, and he’s also this year’s NAR Regional Vice President for the states of Ohio and Michigan. Jonathan is President of JMH Associates and Appraisals in Saint Marys, Ohio.

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Ben Anderson, REALTOR®

Ben Anderson is a REALTOR®, an auctioneer, and the Tax Collector of Okaloosa County, Florida. Ben’s been with us many times, both in his role as a REALTOR® auctioneer at Anderson Realty USA, and also in his role as the our resident expert on property taxes.

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Christina Hoffman, HouseLogic.com

HouseLogic.com is a free source of information and tools—from the NATIONAL ASSOCIATION OF REALTORS® — that can help you make smart and timely decisions about your home.

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Keith Gumbinger, HSH.com

Keith Gumbinger is Vice President of HSH.com, the nation’s largest publisher of mortgage and consumer loan information. For more than twenty-five years, Keith’s been in the mortgage industry as an expert observer and has written on all kinds of mortgage topics, so we can understand everything from mortgage pricing to lending strategy.

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Pricing Dilemmas – And How to Survive Them

We’ve been looking at all the different ways people in a real estate transaction look at ‘price.’ The buyer wants a deal – the seller wants a profit – and the lender wants a safe transaction.

What is the ‘right price?’ As we’ve learned, it depends whom you ask!

And with so many different perspectives – how can you keep the deal on track? Sometimes – it’s not easy.

So we’re going to wrap up today’s show by looking at some of those pricing dilemmas – how to avoid them – and how to keep the transaction headed straight to the settlement table.

Let’s start with buyers – and the biggest question of all: How much do you offer?

Sure, you could offer full price. But that’s not reality. Since nearly every buyer dreams about getting the house they want at a bargain price.

And – you could make a lowball offer. Like – really low. But making a lowball offer can sometimes be a big mistake. Because if it’s too low? The seller could get insulted – and they might refuse to work with you at all. It happens! So – that lowball offer? Could kill the deal.

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Local Market Conditions

It’s time to continue our look at the latest facts and figures from across the country as we look at the most recent existing home sales report from the NATIONAL ASSOCIATION OF REALTORS®.

This week we’re going to dig further into the existing home sales numbers, looking at the condo and co-op market to see what effect it had on the housing numbers we saw in September.

But first let’s recap what we saw in overall existing home sales for September. After several back-to-back month increases in Existing Home Sales, August saw a slight downturn and we wondered if this might carry on over into September.

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