When it comes to selling a house there are some variables that you simply cannot control such as the state of the local market and economy which in turn has an effect on the number of potential buyers. There are however some very common pitfalls that sellers should be aware of that can have a negative impact on the selling of your home. Here are four of the top reasons you house may not selling.

#1) Too Much Competition – It’s possible there are too many listing available in your price range within your market. When this happens chances are you are not going to see that many showings.

What To Do: This is one of those things you simply cannot control. In other words, you cannot reduce the number of listing on the market. What you can do is make your home more accessible to more buyers by lowering the price, offering favorable terms (ie. seller financing, closing costs, etc).

#2) Priced Too High – This is one of the most common mistakes I see home sellers make. If your price is too high you are not going to see too many buyers. If you happen to get a buyer you run the risk that the house will not appraise at the selling price and financing will fall through. Remember your house is worth what someone if willing to pay for it, NOT what you’d like to get out of it.

What To Do: First off you have to be realistic about your local market. Houses in your area may not selling like they used to. You also have to be honest with yourself and determine just how important it is for you to sell. Second work with a trusted real estate agent who has the data and can pull comparables to help you make an informed decision on a selling price.

WARNING: Don’t fall for the all too common real estate agent who promises to list your house at an unjustifiable high price only to come back later to ask you to lower your price because your house hasn’t sold. The first 30 days a house is on the market is crucial and if priced incorrectly the house will be ignored. If you lower your price later the first thing buyers ask is “What’s wrong with it, if the seller had to lower their price?”

#3) No Curb Appeal – In a job interview first impressions count. The same applies to selling a home. When selling a home if the buyer is turned-off by the outside of your home chances are they won’t go inside. Your house has to show well and that starts with the minute a buyer pulls up to the driveway.

What To Do: Make sure the exterior of your house is presentable. Trim shrubs, mow lawn, paint trim, replace rusted and beat up mailboxes. There are lots of inexpensive fixes you can to to the exterior of your house to increase its curb appeal. Do those prior to putting your house on the market and you stand a better chance of attracting buyers.

#4) Poor Marketing – Is your house being exposed to the largest pool of potential buyers? Is your agent accessible to potential buyers? What type of marketing is being done on a regular basis to attract buyers? Listing a house in the MLS and local newspaper is no longer enough.

What To Do: Make sure you real estate agent is marketing your house to the max.. Usually the MLS and a newspaper ad is what most agents do, but it shouldn’t stop there. How about syndicating your listing to national real estate website sites, ( AOL, Yahoo, Milltary.com, HomeFinder.com). Buyers are no longer local, they may relocate to your town from all over the globe. How about property brochures? YouTube videos? Does your agent have a flourishing and active social network (Facebook, Twitter, Linkedin). Work with an agent who maximize marketing exposure.

Avoid these 4 common pitfalls and you stand a better chance of selling your home quicker.

If you have any questions or comments enter them below. If you enjoyed this article please share it with family and friends.

If you’re one of those homeowners who’s been moaning about how hard it’s been trying to sell your house, your bargaining power — you remember that concept, right? — hasn’t been completely devastated just because a flood of new foreclosures is expected to hit the market as a result of the recent $25 billion “robo-signing” mortgage settlement.

In fact, while studies have shown your own property value could take up to another 4 percent hit if you’re within a quarter mile of a foreclosure ultimately snapped up at auction or taken back by the lender, the thing to remember is this: Most buyers today are only interested in homes that are “move-in-ready,” so if yours isn’t … well, there’s your problem.

“Buyers generally look at ‘as-is’ properties that need work, and say ‘I’ll pass,’” says Patsy O’Neill, a sales associate with Sotheby’s in Montclair, N.J. “That’s why I tell clients it’s worth making certain strategic fixes if they’re looking for quicker and more profitable sales.”

So, which “fixes” are worth it, and which aren’t? Read on:

Worth It: Addressing major maintenance and safety issues. Would you buy a house with faulty electrical wiring? Enough said.

Not Worth It: Major bath renovations. “Whatever you do might not suit the buyer,” says O’Neill, “and meanwhile, you’d have spent as much as tens of thousands of dollars.” Meaning, stick to things like repairing cracked shower doors, and save your visions of a modern-day spa for your own new abode.

Worth It: Ripping up old carpeting. Whether you replace it with new carpets or refinish the underlying wood floor is less important than getting rid of an eyesore.

Not Worth It: Major kitchen renovations. Same “taste” issue as above.

Worth It: Anything that enhances “curb appeal.” If the first thing prospective buyers notice even before exiting their cars is that your roof looks like it’s been whipped by a tornado, say, chances are you’ve already lost the sale. “It’s a huge turn-off,” says O’Neill, “and makes buyers predisposed to find even more things they don’t like.” So, if your roof needs replacing, check out the Value Collection Lifetime Designer Shingles from GAF (the largest roofing manufacturer in North America), which have the look of luxury shingles but at very affordable prices (www.gaf.com).

Not Worth It: Anything that screams clutter. The less of “you” there is, the more likely prospective buyers are to imagine themselves happily living there.

Buying a home or refinancing an existing home can be one of the most important and complex decisions you’ll ever make. Many professionals in the industry such as real estate agents, lenders, appraisers and inspectors are able to help you within finding and buying your dream home.

However it’s important you understand the home buying process in order to be a smart consumer. Every year hundreds of misinformed buyers especially fist-time purchasers and seniors become victims of predatory lending or loan fraud.

The following 11 tips will help you become a smart consumer:

1. Before you buy a home, attend a homeownership education course offered by the U.S. Department of Housing and Urban Development (HUD)-approved, non-profit counseling agencies.
2. Interview several real estate professionals (agents), and ask for and check references before you select one to help you buy or sell a home.
3. Get information about the prices of other homes in the neighborhood. Don’t be fooled into paying too much.
4. Hire a properly qualified and licensed home inspector to carefully inspect the property before you are obligated to buy. Determine whether you or the seller is going to be responsible for paying for the repairs. If you have to pay for the repairs, determine whether or not you can afford to make them.
5. Shop for a lender and compare costs. Be suspicious if anyone tries to steer you to just one lender.
6. Do NOT let anyone persuade you to make a false statement on your loan application, such as overstating your income, the source of your downpayment, failing to disclose the nature and amount of your debts, or even how long you have been employed. When you apply for a mortgage loan, every piece of information that you submit must be accurate and complete. Lying on a mortgage application is fraud and may result in criminal penalties.
7. Do NOT let anyone convince you to borrow more money than you know you can afford to repay. If you get behind on your payments, you risk losing your house and all of the money you put into your property.
8. Never sign a blank document or a document containing blanks. If information is inserted by someone else after you have signed, you may still be bound to the terms of the contract. Insert “N/A” (i.e., not applicable) or cross through any blanks.
9. Read everything carefully and ask questions. Do not sign anything that you don’t understand. Before signing, have your contract and loan agreement reviewed by an attorney skilled in real estate law, consult with a trusted real estate professional or ask for help from a housing counselor with a HUD-approved agency. If you cannot afford an attorney, take your documents to the HUD-approved housing counseling agency near you to find out if they will review the documents or can refer you to an attorney who will help you for free or at low cost.
10. Be suspicious when the cost of a home improvement goes up if you don’t accept the contractor’s financing.
11. Be honest about your intention to occupy the house. Stating that you plan to live there when, in fact, you are not (because you intend to rent the house to someone else or fix it up and resell it) violates federal law and is a crime.

What is Predatory Lending?

In communities across America, people are losing their homes and their investments because of predatory lenders, appraisers, mortgage brokers and home improvement contractors who:

• Sell properties for much more than they are worth using false appraisals.
• Encourage borrowers to lie about their income, expenses, or cash available for downpayments in order to get a loan.
• Knowingly lend more money than a borrower can afford to repay.
• Charge high interest rates to borrowers based on their race or national origin and not on their credit history.
• Charge fees for unnecessary or nonexistent products and services.
• Pressure borrowers to accept higher-risk loans such as balloon loans, interest only payments, and steep pre-payment penalties.
• Target vulnerable borrowers to cash-out refinances offers when they know borrowers are in need of cash due to medical, unemployment or debt problems.
• “Strip” homeowners’ equity from their homes by convincing them to refinance again and again when there is no benefit to the borrower.
• Use high pressure sales tactics to sell home improvements and then finance them at high interest rates.

What Tactics Do Predators Use?

• A lender or investor tells you that they are your only chance of getting a loan or owning a home. You should be able to take your time to shop around and compare prices and houses.
• The house you are buying costs a lot more than other homes in the neighborhood, but isn’t any bigger or better.
• You are asked to sign a sales contract or loan documents that are blank or that contain information which is not true.
• You are told that the Federal Housing Administration insurance protects you against property defects or loan fraud – it does not.
• The cost or loan terms at closing are not what you agreed to.
• You are told that refinancing can solve your credit or money problems.
• You are told that you can only get a good deal on a home improvement if you finance it with a particular lender.

Thanksgiving week is here again and with it comes millions of Americans taking road trips, large and small.

Drivers must be prepared for everything from snow and ice to sleep-deprived travelers.

To help make sure you are prepared, America’s Road Team Captains, elite professional truck drivers, offers the following advice on how to navigate through highway traffic and arrive at your destination safely:

Read the entire 8 Highway Safety Tips for Thanksgiving Travel article.

Article From BuyAndSell.HouseLogic.com
By: G. M. Filisko Published: June 04, 2010

Keep your emotions in check and your eyes on the goal, and you’ll pay less when purchasing a home.

Buying a home can be emotional, but negotiating the price shouldn’t be. The key to saving money when purchasing a home is sticking to a plan during the turbulence of high-stakes negotiations. A real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision during each round of offers and counter offers.

Here are six tips for negotiating the best price on a home.

1. Get prequalified for a mortgage

Getting prequalified for a mortgage proves to sellers that you’re serious about buying and capable of affording their home. That will push you to the head of the pack when sellers choose among offers; they’ll go with buyers who are a sure financial bet, not those whose financing could flop.

2. Ask questions

Ask your agent for information to help you understand the sellers’ financial position and motivation. Are they facing foreclosure or a short sale? Have they already purchased a home or relocated, which may make them eager to accept a lower price to avoid paying two mortgages? Has the home been on the market for a long time, or was it just listed? Have there been other offers? If so, why did they fall through? The more signs that sellers are eager to sell, the lower your offer can reasonably go.

3. Work back from a final price to determine your initial offer

Know in advance the most you’re willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale.

Work with your agent to evaluate the sellers’ motivation and comparable home sales to arrive at an initial offer that engages the sellers yet keeps money in your wallet.

4. Avoid contingencies

Sellers favor offers that leave little to chance. Keep your bid free of complicated contingencies, such as making the purchase conditional on the sale of your current home. Do keep contingencies for mortgage approval, home inspection, and environmental checks typical in your area, like radon.

5. Remain unemotional

Buying a home is a business transaction, and treating it that way helps you save money. Consider any movement by the sellers, however slight, a sign of interest, and keep negotiating.

Each time you make a concession, ask for one in return. If the sellers ask you to boost your price, ask them to contribute to closing costs or pay for a home warranty. If sellers won’t budge, make it clear you’re willing to walk away; they may get nervous and accept your offer.

6. Don’t let competition change your plan

Great homes and those competitively priced can draw multiple offers in any market. Don’t let competition propel you to go beyond your predetermined price or agree to concessions-such as waiving an inspection-that aren’t in your best interest.

More from HouseLogic

Determine how much mortgage you can afford (http://buyandsell.houselogic.com/articles/4-tips-determine-how-much-mortgage-you-can-afford/)

Keep your home purchase on track
(http://buyandsell.houselogic.com/articles/keep-your-home-purchase-track/)

Plan for a stress-free home closing
(http://buyandsell.houselogic.com/articles/7-steps-stress-free-home-closing/)

Other web resources

More negotiating tips
(http://www.freddiemac.com/corporate/buyown/english/purchasing/offer/negotiate.html)

Develop a homebuying strategy (http://www.nolo.com/legal-encyclopedia/article-29746.html)

G.M. Filisko is an attorney and award-winning writer who has to remind herself to remain unemotional during negotiations. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

As a Seller  it  should be important to you how Buyers search for Kingfisher OK homes for sale.

• Do they search in the newspaper?
• Do they look online?
• Do they search for homes on local real estate TV channels?

The reason this is important is that the Broker/Agent you choose to sell your house should be  marketing your listing in places where the buyers are searching.

Realtors belong to one of the largest associations in the world; The National Association of Realtors(NAR). NAR spends millions of dollars on surveys and research every year to gather information that helps us better understand sellers and buyers. Every year NAR conducts a Buyer Profile Survey where thousands of buyers are surveyed and asked questions on various topics related to their home buying experience. Let’s take a look at one of the questions that is asked of buyers.

What information sources do you use in your home search?

I placed an arrow next to television to emphasize the fact that it’s one of the least effective ways to sell and market houses yet it’s one of the most talked about by an Agent or Broker when trying to get your listing.

As you can see by the above chart the Internet, Real Estate Agents and yard signs are the top three most used sources for buyers when searching for a home.  To further expand on the online search below is the action buyers take after they find a house they like online.

Actions taken as result of Internet home search:

• Drove by/viewed a home: 77%
• Walked through a home viewed online: 61%
• Found agent used to search/buy home: 28%

How do you want your house to be marketed to buyers?

The statistics don’t lie real estate has changed  Whether you want to believe it or not the statistics and trends show real estate is being bought and sold differently than 5 years ago. The Internet has changed it dramatically.

• Did you know that close to 50% of buyers are first-time homebuyers.
• Did you also know that their median age is 30 years?

This market demographics communicates via text, they use Internet a lot, belong to Facebook and Twitter, and use email more than than any other segment.

They go online and search using Google or any of the other well-known search engines and use local terms like Kingfisher OK homes for sale, or Piedmont OK real estate.

Do you think the Broker you hire to sell your house should have a web presence that allows your home to be shown at it’s best. Plenty of pictures, well written descriptions, virtual tours, maps, easy and friendly navigation etc.? I bet you do!

So how do you think we market your house?  Where do you think we invest the most time and money?

The chart shown above holds the answer. Where it matters most; where buyers go to begin their home search, the top 3 resources buyers use

• Internet: We have one of the best, if the not the best,  real estate website in Kingfisher OK and surrounding communities.. We have an ever-growing social network presence. We were the first in Kingfisher to offer customized single property websites. We offer video tours and lots more all to increase our online exposure so your house can be found by those buyers who go online to search.
• Real Estate Agents: We use high-tech messaging to get the low-down on your house to other agents in the OKC Metro area. Technology is great and we use it effectively to get your house in front of other agents who may have buyers looking for a house just like yours.
• Yard Signs: Beautiful, classy, great looking, bold, awesome…Those are not my words but what others have said about our yard signs. We invested heavily on the design to make sure what goes up on your front-yard is attractive, appealing and something we are all proud to show. Yard signs that get buyer’s attention.

Call us 405-375-3909 or use the contact form to find out about our Maximum Exposure Marketing Plan and commission fees as low as 2%.

We are committed to exceeding your expectations and stand by our service with our Seller Satisfaction Guarantee.

Ray Roman, Broker-Owner
Ray Roman Realty

Whether your selling or buying Kingfisher, OK realestate it’s important to understand what an appraisal really is. Below is a guest article by G.M Filisko that goes into detail about how appraisals work and how they can help you sell or buy Kingfisher OK real estate.

Article From BuyAndSell.HouseLogic.com
By: G. M. Filisko

Understanding how appraisals work will help you achieve a quick and profitable refinance or sale.

When you refinance or sell your home, the lender will insist that you get an appraisal–an opinion of the value of your home based on what similar homes in your area have sold for in recent months.

Here are five tips about the appraised value of your home.

1. An appraisal isn’t an exact science

When appraisers evaluate a home’s value, they’re giving their best opinion based on how the home’s features stack up against those of similar homes recently sold nearby. One appraiser may factor in a recent sale, but another may consider that sale too long ago, or the home too different, or too far away to be a fair comparison. The result can be differences in the values two separate appraisers set for your home.

2. Appraisals have different purposes

If the appraisal is being used by a lender giving a loan on the home, the appraised value will be the lower of market value (what it would sell for on the open market today) and the price you paid for the house if you recently bought it.

An appraisal being used to figure out how much to insure your home for or to determine your property taxes may rely on other factors and arrive at different values. For example, though an appraisal for a home loan evaluates today’s market value, an appraisal for insurance purposes calculates what it would cost to rebuild your home at today’s building material and labor rates, which can result in two different numbers.

Appraisals are also different from CMAs, or competitive market analyses. In a CMA, a real estate agent relies on market expertise to estimate how much your home will sell for in a specific time period. The price your home will sell for in 30 days may be different than the price your home will sell for in 120 days. Because real estate agents don’t follow the rules appraisers do, there can be variations between CMAs and appraisals on the same home.

3. An appraisal is a snapshot

Home prices shift, and appraised values will shift with those market changes. Your home may be appraised at $150,000 today, but in two months when you refinance or list it for sale, the appraised value could be lower or higher depending on how your market has performed.

4. Appraisals don’t factor in your personal issues

You may have a reason you must sell immediately, such as a job loss or transfer, which can affect the amount of money you’ll accept to complete the transaction in your time frame. An appraisal doesn’t consider those personal factors.

5. You can ask for a second opinion

If your home appraisal comes back at a value you believe is too low, you can request that a second appraisal be performed by a different appraiser. You, or potential buyers, if they’ve requested the appraisal, will have to pay for the second appraisal. But it may be worth it to keep the sale from collapsing from a faulty appraisal. On the other hand, the appraisal may be accurate, and it may be a sign that you need to adjust your pricing or the size of the loan you’re refinancing.

More from HouseLogic

How to use an appraisal to eliminate private mortgage insurance (http://www.houselogic.com/articles/cancel-your-private-mortgage-insurance/)

Understanding the assessed value of your home for tax purposes (http://www.houselogic.com/articles/why-real-estate-assessments-matter/)

Understanding the amount at which to insure your home (http://www.houselogic.com/articles/homeowners-insurance-are-you-over-or-underinsured/)

Other web resources

More information on appraisals (http://www.appraisalinstitute.org/profession/appraiser.aspx)

How to improve the appraised value of your home (http://www.appraisers.org/Consumer/ConsumerLibrary/SoftHousingMarketMakesforaHardSell.aspx)

G.M. Filisko is an attorney and award-winning writer who’s had more than 10 appraisals performed on her properties in the past 20 years. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.