Imagine you want to buy a gallon of milk. You eye the dairy case, shelves stocked with dozens of choices, but they are really all the same. Milk is milk, and which one you select is really insignificant because they are all identical, and they are all priced the same.

But what if each identical offering was priced differently? Odds are you have set aside ample time for your shopping trip, and you will carefully check the price labels and go for the best deal. Or maybe you are drawn to the more attractive packaging.

When selling your home, attractive pricing and packaging are arguably the two most basic essentials. In our current real estate market, the buyers have a lot of choices. In many areas, the shelves are simply overstocked. And since no two homes are the same, making that distinction between your home and the dozens of others is key.

Where pricing is concerned, establishing that all important asking price is part science and part art, and there are several things you should consider.

• Study past sales. This is the starting point for any thoughtful and successful pricing strategy; think of it as the “science” part. Take the time to study past sale statistics for homes in your area and areas similar to yours. None will be identical, of course, but having a clear understanding of true market value is the first step in establishing your list price.
• Do not confuse active listings with past sales. Active listings have not sold. They are just your competition. It is important to be aware of your competition’s pricing, but this is often just an indication of what your home won’t sell for.
• Do not overprice because you have “time.” If the market is appreciating, this strategy may work, but if prices in your area are declining, you may quickly find yourself chasing a market and costing yourself money. And if the market is stable? Your home will just sit. Buyers pay in today’s dollars, and time is rarely on your side.
• Leave some room for negotiation, but don’t overreach. No seller wants to feel he left money on the table, and no buyer wants to overpay. Your price should give both parties room to maneuver, but if it is too high, you risk being perceived as unrealistic, and buyers will pass over your home.
• Think like a buyer. What are the things that you value in a home? Is it a large yard, an updated kitchen or a view? These are likely the same things that your buyer values as well. Talk to your agent about current buyer trends. Yesterday’s avocado green shag carpeting is today’s granite countertop. The property facing the interstate is going to be a tougher sell than the one with a mountain view. Your price should reflect how your home compares to the others offered for sale. Buyers will find objections to any home, as none is perfect, but it is curious how quickly objections disappear when the price is compelling.
• React swiftly and decisively. If your home is on the market and is not being shown or if you receive feedback that you are priced too aggressively, don’t hesitate to adjust your price. Bad news, like spoiled milk, doesn’t get better with time.

First impressions are everything when selling your home. Studies have shown that the first two weeks on the market are the most crucial to your success. During these initial days, your home will be exposed to all active buyers. If your price is perceived as too high, you will quickly lose this initial audience and find yourself relying only on the trickle of new buyers entering the market each day. Markets are dynamic, and your price has an expiration date. You have one chance to grab attention. Make sure your pricing helps you stand out on the shelf — in a positive way.

Kris Berg is designated broker with San Diego Castles Realty in San Diego, Calif. Visit her Web site atwww.SanDiegoCastles.com and read her blog at www.SanDiegoHomeBlog.com.

A Realtor spends many hours researching financing information, keeping abreast of the current market and market trends, and they also spend time in continuing education studies. This enables them to give you the best service to assure that you are investing your money wisely.

Your Realtor stands ready to help you locate and purchase the home best suited for your family’s needs and financial picture. They know the market and they know the many options of home financing.

You only need ONE Realtor to help you find the home that is right for you.  So, if you meet another Realtor at an Open House or Showing, you can avoid confusion if you indicate that you’re already working with an Realtor.  All Realtor have access to the same information via the MLS (Multiple Listing Service).

While searching for your new home, your Agent will:

• Keep you informed.
• Run frequent computer checks for new listings that meet your criteria.
• Stay up-to-the-minute on changing financial conditions that may affect the housing market.
• Be available to answer your questions or to offer assistance at any time.
• Discuss market trends and values relating to properties which may be of interest to you.
• Show you new homes as well as pre-owned homes, if you desire, including those listed with other companies.
• Introduce you to reliable lenders who can take care of your financial needs.

And once you have chosen a home and have made an accepted offer, your Realtor is there to make sure the loan process runs smoothly, the proper inspections are being done on the home, and that the closing takes place with as little effort from you as possible.  There is no need for that “nightmare” process when buying your home.

If you are looking for a Realtor to assist you, contact Michelle Fradella at Pinnacle Real Estate Services to find out what properties are available that meet your family and financial needs and to get started in the home-buying process.

Considering that the average furnace repair is between $1,250 and $5,000, a home warranty may save you dollars on a repair that pops up after the closing. In addition, the money you save by not having to foot the bill for the policy–which on average can cost between $300-$400–makes a warranty a worthy perk.

You should be mindful, however, of exactly what the home warranty covers. Most sellers only purchase a one-year basic warranty, which will generally cover major built-in appliances and mechanical systems such as heating, electrical and plumbing, and usually it only covers normal wear and tear. For example, if the water heater was not in good working condition when the home was purchased, and it breaks a week or two later, there is no coverage.

If you want more extensive coverage, such as for pool equipment, air conditioning, or even the refrigerator, talk with your real estate professional about negotiating that extra cost with the seller, or consider purchasing your own warranty. Also, remember that although most home warranties provide coverage only for one year, most plans are renewable.

Whether or not you are given the option of selecting your own home warranty provider, here are questions to consider:

• How much is the deductible or per visit cost for repairs?
• Does the plan cover ‘pre-existing conditions’ which weren’t known to the seller?
• Who performs the repairs? Can you choose someone or does the company send a technician in their network?
• What’s the maximum dollar amount for repairs and what are the policy limitations? For example, will the policy pay for a new water heater at no additional cost?

Whether a warranty is offered by the seller or not, no buyer should forgo a home inspection. An inspection may uncover defects or potential problems that won’t be covered by the warranty – and may give you the opportunity to request the seller to make any major repairs before the closing.

But, warranties definitely have a place when it comes to protection and peace of mind. If you are looking in the Pearl River County, MS, area for a home, give Michelle Fradella a call for more information on home warranties and providers.

SELLER’S AGENT

A seller can enter into a “listing agreement” with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. A licensee who is engaged by and acts as the agent of the Seller only is known as a Seller’s Agent. A Seller’s Agent has the following duties and obligations: To the Seller: * The fiduciary duties of loyalty, confidentiality, obedience, disclosure, full accounting and the duty to use skill, care and diligence. To the Buyer and Seller: * A duty of honesty and fair dealing. * A duty to disclose all facts known to the Seller’s Agent materially affecting the value of the property which are not known to, or readily observable by, the parties in a transaction.

BUYER’S AGENT

Buyer’s Agreement A buyer may contract with an agent or firm to represent him. A licensee who is engaged by and acts as the agent of the Buyer only is known as the Buyer’s Agent. If a Buyer wants an agent to represent him in purchasing a property, the buyer can enter into a Buyer’s Agency Agreement with the agent. A Buyer’s Agent has the following duties and obligations: To the Buyer: * The fiduciary duties of loyalty, confidentiality, obedience, disclosure, full accounting and the duty to use skill, care and diligence. To the Seller and Buyer: * A duty of honesty and fair dealing.

DISCLOSED DUAL AGENT

A real estate agent or firm may represent more than one party in the same transaction. A Disclosed Dual Agent is a licensee who, with the informed written consent of the Seller and Buyer is engaged as an agent for both Seller and Buyer. As a disclosed dual agent, the licensee shall not represent the interests of one party to the exclusion or detriment of the interests of the other party. A disclosed dual agent has all the fiduciary duties to the Seller and Buyer that a Seller’s or Buyer’s Agent has except the duties of full disclosure and undivided loyalty.

A Disclosed Dual Agent may not disclose: (a) To the Buyer that the Seller will accept less than the asking or listed price, unless otherwise instructed in writing by the Seller. (b) To the Seller that the Buyer will pay a price greater than the price submitted in a written offer to the Seller, unless otherwise instructed in writing by the Buyer. (c) The motivation of any party for selling, buying, or leasing a property, unless otherwise instructed in writing by the respective party, or (d) That a Seller or Buyer will agree to financing terms other than those offered, unless otherwise instructed in writing by the respective party.

CUSTOMER

“Customer” shall mean that person not represented in a real estate transaction. It may be the buyer, seller, landlord or tenant. A Buyer may decide to work with a firm that is acting as agent for the Seller (a Seller”s Agent or Subagent). If a Buyer does not enter into a Buyer Agency Agreement with the firm that shows him properties, that firm and its agents may show the Buyer properties as an agent or subagent working on the Seller’s behalf. Such a firm represents the Seller, (not the Buyer) and must disclose that fact to the Buyer. When it comes to the price and terms of an offer, the Seller’s Agent will ask you to decide how much to offer for any property and upon what terms and conditions. They can explain your options to you, but the final decision is yours, as they cannot give you legal or financial advice. They will attempt to show you property in the price range and category you desire so that you will have information on which to base your decision.

The Seller’s Agent will present to the Seller any written offer that you ask them to present. You should keep to yourself any information that you do not want the Seller to know (i.e. the price you are willing to pay, other terms your are willing to accept, and your motivation for buying). The Seller’s agent is required to tell all such information to the Seller. You should not furnish the Seller’s agent anything you do not want the Seller to know. If you desire, you may obtain the representation of an attorney or another real estate agent, or both.

If you have any questions about these catagories, when looing for a home in Pearl River County, MS, please call Michelle Fradella at 601-799-1848, or email her at PRCHomes