Phillips Ranch Real Estate

Adding to your basic toolbox for easier repairs

If you are big on DIY home improvements, consider adding any one of these must have tools to your tool box.

Cordless Drill/Driver: Go cordless for ease of use. Higher voltage means more power and more life between charges.

Square: Cutting materials square is the first step in making sure projects turn out right. This tool is a must-have.

Level: From hanging pictures to building a deck, everyone needs a level. Consider two, a two-footer.

Flat Bar or Pry Bar: Often starting a project means tearing something out. A flat bar will help. Use claws on either end for removing nails.

Diagonal Cutters: Not just for cutting wire but a variety of other materials such as small nails and dowels as well.

Adjustable Wrench: Flexibility makes this tool a must for turning nuts, bolts
and plumbing fittings.

Drill Bits: Get a kit that contains different sizes and varieties for drilling through different materials.

Clamps: A set of bar clamps is always useful for holding things together while they are glued or fastened.

Phillips Ranch House LP: $472,800

Bedrooms: 3

Baths: 2

Built: 1969

Square Feet: 1,431

Lot Size: 7,370

Property Description:

Bring Home A Tastefully Remodeled Cozy Home Best Priced In The Area. Nested In The Serene And Breezy Hills Of North Phillips Ranch, A Lush Front Yard With Palm And Tropical Trees, This Home Has It All: Brand New Distressed Wood Floor In Stepdown Great Room, Porcelain Tiles In Kitchen And Baths, Sculptured Berber Carpet In Bedrooms, Marble Framed Fireplace, New Light And Plumbing Fixtures... New Dual Pane Vinyl Windows And Patio Door Make This Home Sound And Energy Insulated Reducing The Demand On The New Central Air Conditioning System. The New Maple Wood Kichen And Bath Cabinets And The Outdoor Breakfast Counter Are Graced With Emerald Green Granite Countertops. The Kitchen Is Outfitted With New Ss Whirlpool Appliances And Is Served By A New Water Heater. The New Driveway Leads To A Brand New Roll Up Sectional Door With Windows. This House Is Ideal For The Road Travel And Boating Enthusiast With A Side Yard Accomodating RV Access And Boat Parking.

Exclusive Buyer Brokerage Changes With Real Estate Market

For the longest time I have been a proponent of the idea that sellers should have a Real Estate broker and buyers too should have a separate broker. Under this system, both Real Estate parties have access to professional representation and both are hopefully equals in the market place.

Although the brokerage community has been very good about representing sellers, buyer representation has yet to catch up. The 2006 Profile of Buyers and Sellers from the National Association of Realtors shows that 44 percent of all purchasers had a written buyer brokerage agreement while 84 percent of all sellers listed with a broker.

Within the realm of buyer brokerage there are "buyer brokers" and "exclusive buyer brokers" or EBAs. Buyer brokers represent purchasers but in other transactions may represent sellers. Exclusive buyer brokers only represent purchasers and never list properties.

Over time there has been a lingering debate within the real estate community regarding which form of buyer brokerage is somehow "better," however it is that one measures such a concept. The discussion has been useful in the sense that it's raised a number of agency issues, but in the end one either is or is not exclusive and most licensees have opted for a non-exclusive practice model.

What virtually everyone does agree to is this: In a marketplace crowded with competitors, being an EBA gives one a way to stand out, to be different. From a marketing perspective, different can be very good -- after all, half the consumers in the real estate marketplace are buyers and only a small percentage of professionals are exclusive buyer brokers. The odds of a successful realty practice would seem to favor exclusive buyer brokers rather than listing brokers, all things being equal.

If you're improving Real Estarte for the long-term 3

Cut back the jungle Many everyday yard plants, such as azaleas,
forsythia, hollies and rhododendrons, will fill out with new growth
after a season or so even if you hack them down to stumps, says
Christopher Valenti, a landscape contractor in Lewes, Del.

Be careful, though, of yews and junipers, which won't grow new leaves
on old wood and may need to be removed altogether if they're severely
overgrown.

Add drama with foliage A distinctive yard will make your home more
appealing to buyers, says Los Angeles realtor Dana Frank. So replace
plants that don't flower, or provide interesting foliage with
eye-catching alternatives, like a patch of blackeyed Susans, a
flowering crabapple or a cutleaf Japanese maple.

If you're planning to stay put, you don't need to spend hundreds of
dollars for big plants. You'll save 50 percent or more by buying small
ones and waiting a few seasons to get the full visual impact (when
planting, make sure to space them based on the mature size listed on
the label, not how they look now).

Consider new angles Most yards have almost all the plants along the
foundation and the property lines. But if you place yours throughout
different parts of the property, you'll create a depth of field that
makes your home look farther away from the road, says architect Hoerr.

Try putting some near the house's corners to accentuate its shape,
others near the street to define the yard, and some in between, where
they can block unfortunate views and be admired from indoors. Many
nurseries offer free design help to buyers.

Cover your rear It's nice to wave hello to your neighbors out front,
but the backyard should be a private space. If yours feels
overexposed, fencing can offer a quick fix.

For each eight-foot section, you'll pay about $100 (for a plain cedar
stockade fence) to $300 (for an elaborate Victorian model), plus
another $50 to $150 a section for installation.

You can also achieve the same effect at a much lower cost by planting
small evergreen shrubs, although you'll have to wait a few seasons for
full coverage.

Or, rather than pruning those hulking foundation plants, hire a
landscaper to transplant them along the property line. As long as
they're healthy and evergreen, it's a great way to maximize the value
of the plants

If you're selling Real Estate in a year or less 2

Landscaping Tips

Edge the beds Cutting fresh edges where grass meets mulch makes the
lawn look well kept. A move as simple as curving the edge of your
flower beds could increase the value of your home by 1 percent, says
horticulture professor Bridget Behe, the lead researcher on the MSU
study.

Also, if your foundation plants are overgrown, widening the beds by
two feet will make the shrubs seem smaller.

Nourish the grass For truly lush turf, ideally you should start
regular fertilizer treatments a year before listing the house. But you
can green up the lawn with just a single application.

Spend $45 on a broadcast spreader, which quickly distributes
fertilizer over a lawn, enabling you to nourish a quarter-acre lot in
about 10 minutes.

For a yard that size, expect each monthly application to cost about
$20 (for straight fertilizer) to $30 (with weed killer).

Scatter color throughout For about $1 a plant, you can blanket your
yard with petunias, impatiens and other small annuals that will flower
throughout the current growing season.

Also invest a few hundred dollars in some larger perennials and in
shrubs that stand at least four feet high.

"A few good-size plants have more sex appeal than 20 little ones,"
says Chicago landscape architect Douglas Hoerr.

Real Estae 7 landscaping tips (1)

These ideas offer some of the best returns for your renovation dollar. Plus, the payoff increases over time.

If prospective buyers looked at your house today, what would they see outside? A giant evergreen that looks as if it might swallow the station wagon, perhaps, scraggly old foundation plants or maybe a kitchen-table view of the neighbors' kids' trampoline?

If so, you have a truly inexpensive opportunity to boost your home's curb appeal.

By spending $500 to $3,000 on plants and materials and a few hours of time, you can achieve a well-landscaped look without shelling out for professional help.

Besides the personal enjoyment you'll get from a prettier yard, landscaping adds more value than almost any other home renovation.

A recent Michigan State University study found that depending on where the house is located, high-quality landscaping adds 5 percent to 11 percent to its price.

If you have no immediate plans to move, all the better: Landscaping is the one home improvement that actually appreciates over time.

So how do you decide which projects to tackle? That depends on how long you think you'll be around to enjoy the results.

Vacation Home Mortgage Loans 2

Despite the drawbacks, however, vacation home sales have increased dramatically in recent years. Florida, Colorado, Arizona, California, and Hawaii are among the favorite choices of vacation home buyers. If you're considering a vacation home in one of these states, or in any area where second-home buying is common, you may get a substantially better deal on a vacation-home mortgage. Lenders in these areas are familiar with the particulars of vacation homes, and must compete with other banks and brokers for their share of the market.

Once you find a vacation property you like, consider what you'll do with the property when you're not using it. Many owners choose to rent out their vacation homes, and this has both benefits and drawbacks. The rental income will certainly be welcome, but you'll also have to consider how you'll clean and maintain your property. If you plan to rent it out, you may have to disclose this to your lender, and you'll certainly want to inform your insurance company, and purchase coverage accordingly.

If you're using the house for just part of the year, make sure to address all maintenance concerns, taking steps, for example, to prevent freezing pipes in the winter months when you're away from your summer home. A vacation home can be wonderful, but there is also a lot of planning that goes into buying and maintaining one.

Vacation Home Mortgage Loans (1)

If you thought getting a mortgage for a primary residence was difficult, it can be even more challenging to obtain one for a vacation home. To you, a second home conjures up images of vacation fun and relaxation, but lenders see only risk. They assume that vacation-home buyers are extending themselves financially, making them more likely to default on the loan. Read more about Choosing a Mortgage Loan.

And that risk is passed on to borrowers in the form of higher interest rates — as much as 0.5 percent higher than primary-residence mortgages. Mortgage insurance rates will also be higher, and you will have to prove that you have more available cash on hand. For example, if you are expected to have two or three months in mortgage payments available in cash for a primary residence, you'll likely need five or six months of available cash for a vacation home.

Loan amounts will also reflect the higher risk taken by the lender. While banks and brokers routinely issue first-home mortgages with just five percent down, lenders will likely require 10 to 20 percent down for a vacation-home loan. If you're planning to rent out the property, that will further increase the risk to the lender, which will probably result in an even higher down payment.

Some buyers choose to forgo a mortgage on their vacation home altogether, and take out a home equity loan on their primary residence to make the purchase. While this saves them the trouble of applying for another mortgage, home equity loan rates are usually higher than mortgage rates. And taking out a home equity loan requires that you put your primary residence up as collateral, so you could conceivably lose your home in the event of serious financial difficulty. Get the Lowdown on Home Equity Loans.

California June 2007 Home Sales

California June 2007 Home Sales

A total of 38,291 new and resale houses and condos were sold statewide last month. That's up 3.6 percent from 36,975 for May, and down 32.8 percent from 56,989 for June 2006. Last month's sales made for the slowest June since 1995 when 36,941 homes were sold. June sales from 1988 to 2007 range from 35,437 in 1993 to 76,669 in 2004. The average is 51,799. On a year-over-year basis, sales have declined the last 21 months.

The median price paid for a home last month was $479,000, down 1.0 percent from the record high of $484,000 for March, April and May. That was down 0.2 percent from $480,000 for June a year ago. The year-over-year decline in median was the first since January 1996 when the then-median of $146,000 was down 2.0 percent from $149,000 a year earlier.

The typical mortgage payment that home buyers committed themselves to paying last month was $2,319. That was up from $2,266 in May, and down from $2,372 for June a year ago, the current cycle's peak. Adjusted for inflation, mortgage payments are 10.1 percent above the spring 1989 peak of the prior real estate cycle.

DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. The numbers cover all sales, new and resale, houses and condos.

Indicators of market distress continue to move in different directions. Financing with adjustable-rate mortgages has declined significantly. Foreclosure activity is rising, although foreclosure properties are not yet a drag home on home values in most markets. Down payment sizes are stable, flipping rates and non-owner occupied buying activity is down, DataQuick reported.

All Homes	No Sold Jul-06	No Sold Jul-07	Pct. Chg	Median Jul-06	Median Jul-07	Pct. Chg
Los Angeles	8,844	6,809	-23.0%	$520,000	$547,500	5.3%
Orange	2,982	2,391	-19.8%	$640,000	$640,000	0.0%
Riverside	4,763	2,769	-41.9%	$415,000	$399,000	-3.9%
San Bernardino	3,500	2,008	-42.6%	$366,500	$355,000	-3.1%
San Diego	3,584	3,106	-13.3%	$500,000	$489,000	-2.2%
Ventura	941	784	-16.7%	$614,000	$582,500	-5.1%
SoCal	24,614	17,867	-27.4%	$487,000	$505,000	3.7%

Increasing Real Estate Seller's Property Value

Increasing Seller's Property Value

Understand first of all that there IS a difference between price and value. Price is the amount you are asking for the property. Value is buyer perceived, and this perception of value is influenced by many factors such as location, features, condition, comparison to other purchase option, etc. By attending to details that can have a positive impact on the value, sellers can significantly increase their chance of attracting qualified buyers willing to pay the asking price.

Some tips to achieve a positive impact on value are:

• Perceived size impacts value, even more so than actual square footage. Open floor plans make a room feel bigger than larger spaces with smaller rooms. Showing property that is furniture free, or at reduced clutter, helps to make the space feel bigger.
• Vacancy increases sale-ability. Property is easier to show and easier to sell, and quicker to take possession of when it is vacant at the time it is offered for sale. Evidence of problems to take possession of the property -- such as encroachments, or tenants who wont allow buyer tours -- negatively impact value. Vacancy also helps the buyer walk through the property imagining ownership. Sellers should remove personal trinkets and family pictures as well as being conveniently absent during a buyer tour.
• Cosmetics are important.
  • Fresh paint will always add more value than it costs.
  • Clean or new carpet/flooring adds more value than it costs.
  • Landscaping adds more value than it costs. At the very minimum, make the entrance area neat.
  • If you can, add some colorful flowers and new sod.
• Take care of the obvious! The spot on the ceiling from the roof leak takes thousands of dollars from the perceived value and the offer price.
• Condition affects value. Do a seller's home inspection to identify and fix the problem BEFORE closing. No point holding up your check a few extra days; plus a failed buyer's inspection could cost you the sale. Buyers will often bargain down your asking price to accomodate for property condition and repairs.
• If you can, remodel/update the kitchen and master bathroom. These two areas have a big impact on home buying decisions.
• Strategic renovations impact value and your bottom line. Don't spend more money to renovate the place than you can recapture in value on the sales price.

HOW "AS IS" HOME BUYERS CAN PROTECT THEMSELVES

HOW "AS IS" HOME BUYERS CAN PROTECT THEMSELVES.

Knowing the key reasons many home sellers elect to sell "as is," home buyers can benefit from such sales if they know how to protect themselves.

The best way for a buyer to protect against an unscrupulous seller who "forgot" to disclose a serious but known home defect is for the buyer to include a professional inspection contingency clause in the purchase offer.

Buyers of every house and condominium should include such an inspection clause making the purchase offer contingent on the buyer's approval of their professional home inspector's report. That means, after the home seller accepts the buyer's purchase offer, the buyer hires a professional inspector and then approves or disapproves their written report.

Home buyers should be wary of inspectors recommended by the real estate agent. Such an inspector might be known as "easy" and not a "deal killer." Ask such inspectors recommended by a realty agent about their experience, background and professional memberships.

An excellent credential is an experienced independent inspector who belongs to one of the professional home inspections organizations.

We know what you are Looking For

We know what you are Looking For

You are looking for a bubble proof real estate market. You're sick of wondering and worrying about overvalued markets. You're looking for an undervalued market with potential hyper-growth indicators.

Real estate investing and emerging trends in real estate growth We think we've found the market you're looking for. Forbes, the Wall Street Journal, Smart Money Magazine, Money Magazine, Business 2.0, Fortune and literally dozens of other industry sources are unanimous that the market we've found is the rare convergence of undervalued prices, tightening vacancy trends, explosive growth of retirement and other populations, a strong, growing, and diverse economy, massive new infrastructure changes: in short, virtually all the indicators of an emerging hyper-growth area. What's more, we think we've found an incredible value for individual real estate investors who want to own in this unique area. Where is this market? And what are we suggesting you may want to own? Read on, and we'll share our research, including sources, and our conclusions with you. You can decide for yourself. So we agree. The first rule of real estate investing is to buy in an undervalued market. How do you find it? How do you find the next real estate growth area? How do you know if a hot market is protected from a bursting real estate bubble? Where is the next location where the next hyper grown real estate value may occur? What indicators make a city one of the top real estate investment markets?

Successful investors understand that real estate is a game of probabilities, not certainties, and that is why you need to look for probabilities converging before you buy in an area. Taking action as an investor is the most important step. It is also the most difficult. Knowing that all the stars are lining up makes it that much easier. If they are not, don't pull the trigger.What elements and probabilities do you look for? 1. You look for an area of strong demographic growth 2. You look for a strong, growing, and diverse economy 3. You look for an area of growing retirement population 4. You look for new and substantial infrastructure changes 5. You only move into undervalued markets 6. You always acquire a property with strong potential for appreciation 7. You look for tightening vacancy trends 8. You always provide the rental renters prefer

So, I would appreciate having the opportunity to discuss this property with you if you are still interested in selling your property, please call me so that we can arrange a meeting to see how you can achieve your dream of wealth.

Home Selling Tips: Maximize Your Home's Sales Potential

Home Selling Tips: Maximize Your Home's Sales Potential

When preparing your house, try to see it from the buyer's point of view. Would you want to buy a house like your own?

Unless you're sure you're up to the challenge, hire a good agent and attorney to do the home selling for you. It may cost more, but it can save you a lot of aggravation in the long run.


Make sure you have full Multiple Listing Service coverage - this is a powerful tip to remember. Multiple Listing Service (MLS) is the strongest selling tool for your home. Some people would not even advise you to check for any offers before you see you home on MLS!

Home showings through an open house are a good idea.

Getting clutter out of the way will not only improve home showings, but also make it easier to pack once the home has been sold.

Finish any renovations you've started on the house. No buyer wants to finish a job the seller started!

When negotiating with the buyer, throw your bad mood away. It's hard to discuss price when you're still upset about the buyer's plans to cut down the tree you love. Maintain an interactive discussion and build up trust. Even if the offer doesn't work out, keep up a good impression.

Don't let buyers' offers away you - consult with your agent about the price offered. Usually there's a period of three days for you to accept or reject an offer. Also be prepared for home inspections, as usually this happens during this stage of the home selling process.

Home Selling tips are endles. Choose only the tips that would best suit your needs and situation.

Buyers benefit most when staying in home long term

Buyers benefit most when staying in home long term

Given the recent negative press about the state of the residential real estate market, it's understandable that buyers would be reluctant to offer more than the asking price. Yet, some buyers are finding that a list-price offer is not enough. Multiple offers are making a comeback in some markets.

A couple from San Francisco, who had resolved to pay no more than the list price, is now resigned to do so for the right property. They were surprised to find that there were multiple buyers seriously interested in each of the first three listings they considered buying. The one they chose to offer on received three offers. The winning bid was for $10,000 more than they offered.

Exhausted and disappointed from the experience, the San Francisco couple realized that if they wanted to buy a good house in their first-choice neighborhood, they would have to be prepared to compete.

Some buyers in this situation would decide to wait to buy until there are more listings and fewer buyers. A downside of this approach is that waiting in a market that's short on inventory could mean paying a higher price later.

Although appreciation has been flat to negative in many areas of the country, there are pockets of the market -- like the starter-home markets in Oakland and Berkeley, Calif., and Brooklyn, N.Y. -- where there aren't enough homes for sale to satisfy the demand. This tends to put an upward pressure on prices.

HOUSE HUNTING TIP: Does it make sense to pay over the asking price in a market that could soften further? The answer depends on how much over asking you have to pay and how long you plan to own the property.

Some sellers are still pricing their homes low to stimulate buyer interest. In this case, paying over the asking price may not mean paying over market value. Check the sale price of the most recent comparable sales in the area to determine if paying over asking is too much. Your real estate agent can help you with this.

Even if a listing is fairly priced, paying more might make sense depending on your circumstances. If the house will serve your long-term needs and you're confident that you won't be moving for five or 10 years, paying an extra $10,000 is probably worth it. However, if your future is uncertain, it could be risky to pay more than the asking price.

A job transfer that forces you to sell in a soft market soon after buying, could leave you in a precarious position -- particularly if you financed the purchase with a mortgage for 100 percent of the price. Unless you have financial assistance from your employer, you might have to pull money out of savings to cover your selling costs. If the value of your home has declined you might not be able to sell for enough to pay back the mortgage.

Another factor to consider before offering more than the list price is whether the house will appraise for your offer price. Typically, a lender's mortgage commitment is conditioned on an appraisal of the property that substantiates that the buyer is not overpaying. Most lenders require that the appraisal report include three comparable listings from the neighborhood that sold within the past six months.

Due to the general slowdown in the housing market, some lenders are tightening up on their appraisal requirements. Recently, an appraiser who was appraising a property in Oakland's Upper Rockridge neighborhood was instructed by the lender to use comparable sales from the last three, not the last six, months.

THE CLOSING: To protect yourself, include an appraisal contingency in your purchase offer so that you won't risk losing your deposit should you back out of the contract because the property doesn't appraise for the purchase price.

Buying Your Dream Home

Buying Your Dream Home

Even though it’s not easy for everyone to buy a home, it is in fact easier than ever to get a home these days with most lending agencies and banks being more liberal than ever with providing home loans and mortgages. Even if you don’t have a lot of capital or a lot of money to put down, you can still get the home of your dreams at a very affordable price.

A lot of us think that buying a home is a tough process, needing a large down payment, although this isn’t always the case. Buying a home largely depends on your budget. If you put a down payment on your home purchase, it will go towards your overall purchase. The more money you put down on a home when you purchase, the lower your monthly payments will be.

Those of us who don’t own a home live in rental houses and apartments. This can be a worthwhile solution, although your still paying money towards your housing that you could instead be putting towards a home of your own. Owning a home is a dream for many of us, especially when it comes to that dream home that we all hope to own one day. Apartments and homes are great to rent - although most these days will cost you just as much as a mortgage payment - which doesn’t make any sense at all.

Instead, you can easily convert your rental payments into monthly installments towards your own home. All across the United States, you can find of lot of banks and lenders that offer easy to get loans for purchasing your own home or real estate property at low interest rates. With a lot interest rate, you can get the home of your dreams and enjoy low monthly payments.

Keep in mind, you need to choose a loan plan that’s best for you. You can go through bank, through a lender, or use a service online. There are many different ways that you can go, although real estate agents seem to be the most common now days. Good real estate agents will be more than willing to help you get a great deal on the home, at prices that are right for you. Anytime you buy a house, you should always plan ahead, get yourself a real estate agent, and then pursue your dream home.

If you plan your budget and take things one step at a time, you’ll be closer than you think to the home of your dreams. If you choose to keep renting and pay money toward something you don’t own - the home of your dreams will continue to slip away. Take action now and stop renting - find the home of your dreams and put your money towards owning it instead.

Increasing Seller's Real Estate Property Value

Increasing Seller's Property Value

Understand first of all that there IS a difference between price and value. Price is the amount you are asking for the property. Value is buyer perceived, and this perception of value is influenced by many factors such as location, features, condition, comparison to other purchase option, etc. By attending to details that can have a positive impact on the value, sellers can significantly increase their chance of attracting qualified buyers willing to pay the asking price.

Some tips to achieve a positive impact on value are:

• Perceived size impacts value, even more so than actual square footage. Open floor plans make a room feel bigger than larger spaces with smaller rooms. Showing property that is furniture free, or at reduced clutter, helps to make the space feel bigger.
• Vacancy increases sale-ability. Property is easier to show and easier to sell, and quicker to take possession of when it is vacant at the time it is offered for sale. Evidence of problems to take possession of the property -- such as encroachments, or tenants who wont allow buyer tours -- negatively impact value. Vacancy also helps the buyer walk through the property imagining ownership. Sellers should remove personal trinkets and family pictures as well as being conveniently absent during a buyer tour.
• Cosmetics are important.
  • Fresh paint will always add more value than it costs.
  • Clean or new carpet/flooring adds more value than it costs.
  • Landscaping adds more value than it costs. At the very minimum, make the entrance area neat.
  • If you can, add some colorful flowers and new sod.
• Take care of the obvious! The spot on the ceiling from the roof leak takes thousands of dollars from the perceived value and the offer price.
• Condition affects value. Do a seller's home inspection to identify and fix the problem BEFORE closing. No point holding up your check a few extra days; plus a failed buyer's inspection could cost you the sale. Buyers will often bargain down your asking price to accomodate for property condition and repairs.
• If you can, remodel/update the kitchen and master bathroom. These two areas have a big impact on home buying decisions.
• Strategic renovations impact value and your bottom line. Don't spend more money to renovate the place than you can recapture in value on the sales price.

Real Estate Pricing Checklist

Real Estate Pricing Checklist

You are anxious to get that sign up, but hold on! Before you set the price on your house, take a look at what's going on. Not only your perspective of things, but from the current mood of the market. The market is not sympathetic to "you need" or "must have" pricing methods. The time spent here may save certain headaches and disappointment that lay ahead if utilizing these strategies in determining your home's current value. The home is worth what a buyer is willing to pay for it in an open market. So please take some time and review the following strategies.

Mood of the Market

Markets have moods? They do! You need to judge whether it's a sellers' market or a buyers' market and it could vary by city, state, and neighborhood. Your interest is in your own neighborhood.

And when we mention "market", we don't mean the neighborhood grocery store. The market is a catch-all term for all the ingredients that go into the mood of real estate at a given time. It can include such things as interest rates, home inventory, job forecasts, and even time of year. The market shifts constantly, so you need to raise your antennae and tune into what's going on in your neighborhood.

What is your Mindset

A seller's biggest advantage is time, because the more time you have, the more you can prepare and do your homework. However, if you're in a rush to sell, you're at the mercy of the buyer; you won't have the luxury of preparing or waiting for an ideal one.

Do not disclose your timetable to anyone, except your agent. If you can't trust your agent don't do business with them. Your agent has a duty of confidentiality to you per your written contract and will only disclose information you as the seller give permission to disclose. A rushed seller means a bargain for the buyer and savvy buyers can smell panic a mile away. If you're planning on selling in the next 6 to 12 months, you have lots of time to prepare.

As odd as it sounds, sometimes people sabotage their own intentions by being too greedy. Don't do it! As you really start looking at homes on the market, you will develop a sense about what is priced low, high, or just right. Doing your homework here will help you truly understand home values and you will be able to set a reasonable price -- a price that buyers know is just right.

Tracking neighborhood values - You need to become somewhat of a snoop because you need to learn more about your neighborhood than you ever thought possible.