Installment loans for bad credit
Myself and my agent were definitely a touch aggressive with price to start and it seems to have left me dead in the water. The house went pending for about two weeks then the sale fell through. Crickets still, when I say that I mean a showing here and there but nothing of substance. I feel like we are finally at a good price but no offers and not even a showing over the weekend. Based on what you said, I would recommend finding one or two other real estate agents that you trust, asking them to run a comp analysis for you and asking them to review your listing to see if they see any major issues. If the price is right, perhaps there is something in the listing that is turning off buyers. Thats something Id consider functionality obsolete. I wanted to post this to see if anybody gave me some ideas on what to do to overcome this challenge. So I bought a house from a wholesaler that needed rehab last Feb, I went through the whole full rehab, the rehab was not easy at all, as I had the misfortune of dealing with two very bad contractors who blew my budget and took way too long to finish the project. Anyway, I have with one of personal cash loan those 6 month hard money loans and it will be up in the next couple of month. I am completely out of time and now this thing is in the market but it is NOT moving. I have not had any showings and it is listed at the same price ARV that the appraiser gave me when I first acquired it. There is a house that sold nearby, NOT updated, for almost the same square footage that I am selling mine, and mine is fully updated. Theirs has 1 less bed and 1 less bath and those people were under contract in no time. At this point, at the price that I am at, I am only making just a little bit, which is so depressing because the rehab was so incredible hard, and for buyers not to show any interest, I am in disbelief. Perhaps you can market the home differently- Lease option or renter then refinance that hard money loan once someone is in it.
My advice would be to stay calm and give things another few weeks. See if you can talk to your lender or find another lender to bridge things. Be proud of yourself for taking a risk and taking action. July fourth holiday might have put a bit of a crimp on your showings.
But generally what this usually boils down to is price and an appraiser may not be the best person to base your price from, particularly if he used comps more than a few blocks away.
A rehabbed house not selling for at least what the non-rehabbed house with fewer beds and baths sold for? Open houseS - not just one, try open house during the week. Is your agent inviting other agents to the open house?
But there could also be something wrong about the property - whether that Is location or size or your taste in the rehab - whatever might be wrong needs to be addressed to get a sale.
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If so, you listed too high and should not be surprised by a lack of interest. Can you please post the address or a Zillow link so that we can see the listing the same way that a prospective buyer would be seeing it if they were looking in your area?
First of all, the appraisal value in my opinion is worthless. Appraisers are a necessary evil that will adjust prices, in my opinion, to make the sale happen unless it is way far off. Your house compared to the other one may be in a less valuable neighborhood, even if they are only 800 ft apart. I have seen appraisals so far off from one another on a particular house that I even doubted they went to the same house. Most wholesalers (not all) use some inflated inaccurate figures to make their deal look better than it actually is. If 45 days is the average DOM, then even if your house is really nice, it wouldnt be unusual at all to go to 30 days plus.
Also the price an appraiser gives you only has a casual relationship to the properties market value.
In this business you must have a plan B and C exit installment loans for bad credit strategy. While two weeks, especially with a holiday is too short to panic, you should at least be getting some interest. Staging, offering a buyer agent bonus, open houses, robust marketing will help, but they are only the sorts of things that move the needle a bit. Too low and you are leaving too much money on the table. We have purchased flips where we barely touched the inside of a house but dramatically changed the curb appeal and made some quick, easy money. It could definitely be price, but I would look closely at curb appeal.
Post some pics and we will be more than happy to give our 2 cents! Does it stick out from instant personal loans no credit check the other houses in the neighborhood? Sticking out for all the right reasons is one thing....
We can all installment loans for bad credit speculate all day what the issue is but unless we can see some pics or you provide the address everybody is just guessing.
In this market, DFW, you should be getting multiple full price offers in the first few days of listing it. DFW today is STUPID HOT which means every decently priced property gets multiple offers within 2-3 days and some of them are over asking price. For me its owning a construction company and being agent.
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When you start in this business you have more time than money (usually). Focus on building genuine relationships rather than building a "client base" and both your career and life will be more fulfilling. Just a couple years into my business, I was contacted by a couple from NJ. They wanted to retire in Sun City, AZ and wanted me to help them. They were a small sale, and took FOREVER to make a decision and complete the process (I bet I walked dozens of properties for them). I spent countless hours on the phone with them, explaining paperwork, the process, and coordinating their relocation here with them. She wanted to move here too to be close to her sister. She also had a house to sell in California (so I got to pick up a referral as well).
They were moving here too, now that their mother was here. A few months after that, I got a call from a gentleman that knew the sisters from Church. And so on, and so on, and so on, it has gone on for over 20 years and counting. The point is that putting relationships before revenues can be more valuable than any ad, or marketing piece someone can receive from you. Their loyalty, their top of mind awareness of you, and their memory of your contribution to their experience (that they share with everyone they know) will make a far bigger impression on your wallet than a magnet on their fridge with your name on it. You need to focus on people and not on the transactions or outcomes early and later in your career.
Focus on the activities (connecting with people you know and adding to your circle) and everything else will fall into place. Build an accurate database and follow up systems to manage those relationships. Start using a CRM and add everyone on it that you have every known and start connecting or reconnecting with folks (at least the ones you want to reconnect with). Stay educated on market changes, new regulations, and even as simple as scanning the MLS every morning. Call them out of the blue out of genuine interest in their lives. The greatest news for us agents is that this is a relationship-based business! Lean on your local Real Estate Board and take advantage of all the classes that they have to offer. Instead of marketing to a bunch of strangers, strengthen existing relationships and then (eventually) ask them for referrals. Make a list of 50 people you think like you enough to refer business to you. On the third month, talk to them like you always do but include a request for referrals. If done properly, instant payday loan no credit check most of them should offer you at least one referral which will result in plenty of business. If no appointments for the day then start back at the top until the end of your 8 hour day at least. With the training techniques you are learning Try it, Fail Fast, Get Feedback from a qualified person, and Try it again until you nail it. A study was performed for the purpose of figuring out if people had used the same agent to sell their home as the same agent who helped them purchase that home. When it came down to it, only a few of the clients used the same agent they did previously. When asked why they chose a different agent, installment loans for bad credit they said the previous agent lacked communication. They never followed up with their clients after the purchase of the home and they lacked communication during the buying process.
It amazes me that there are agents out interest rate personal loan there who do this!?!?! Treat every client like their your own family and communicate with them at all times, even after the transaction closes.
Once you do this, you should never have a problem getting new online direct lender payday loans clients and obtaining referrals. Hands down, an honest hardworking new agent, with a great broker, will be the better agent than slick 30 year veteran agent on fat-street, mr. Transactions and years dont tell the full story, and there are no programs keeping track of the times an honest agent protected a client by steering them away from a wrecked property.
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