Lions. Cannes Film Festival.

Summertime in Cannes. Film Festival is not only film to watch, but also much to experience. Lots of beautiful people walking around and being seen and to be seen. Nice cars in funny colors...you name it. Cannes has a playground for all. 

This Could Be Your Wish !

Only 20 minutes from Nice Airport and the beaches. Vence is a good alternative to the coast line. Make your own investigations. Open houses during the weekend May 19th and 20th 2012. Please see more on our website http://open-house-vence.com/ and make your reservation. Thank you.

Pricing A Home To Sell – Making Smart Decisions In A Buyer's Market

In the process of selling a home, the single most important item to address is pricing.  

A “buyer’s market” is, in simple terms, one in which there are more homes for sale than there are buyers for those homes; basically a glut on the market.  This can occur when the banking industry experiences a record number of homes they have in foreclosure.  In this case, these foreclosed homes have saturated the real estate market, increasing inventory beyond the market.  Another factor may be that people who are currently renting are hesitant to commit to a long term mortgage, even at lower interest rates, because of job instability.
What this means to someone who is attempting to sell a home is that the asking price must fall within the range of what a buyer will pay for a home in a specific location.  This “magic” price is determined by the following statistical facts:

• comparison of asking price of other, similar and non-similar, homes that are in the vicinity of the subject home
• comparison of actual sold price of other similar and non-similar, homes in the vicinity of the subject home that successfully closed escrow
• how many homes are currently on the market that are comparable to the subject home
• how long other homes in the vicinity of the subject property have been on the market
• location of the subject home
• condition of the home

A seller’s true competition is the other homes on the market.  By looking at the asking price of other homes, it can be determined what the current competition is.  Upon analyzing competition, whenever possible it is best to come in slightly under asking prices of the other homes if at all possible.  This places the seller’s home in the primary position when buyers are making their lists of the best priced homes.  It is a mistaken belief that buyers and sellers are in an adversarial position.  In actuality, a buyer and a seller want the same thing.
The actual sold price of other homes provides guidance as to how much the market will bear for the property.  It is best to look at homes that are the same style, similar amenities, and within the same area as the subject home, but not absolutely necessary, especially in today’s market.  Buyers are looking for the best deal, not necessarily a particular style.  The actual sold data is the strongest indicator as to how to price a home to sell.
There are a couple of helpful pointers when reviewing how long other homes have been on the market:  those that are currently active on the market, those that have received a contract on them but have not closed escrow, and those that have closed escrow.  This number, termed “days on market” or “DOM,” provide information on an estimated time it will take to sell the home.  This figure needs to be analyzed with the asking price history.
The location and condition of a home are generally the easiest to consider.  If the home is located in a desirable area, but is in poor condition, or vice-versa, it will have an impact on the price.  
In essence, you need to tie the contributing facts together, starting with the hopeful sale price based on other listings, then what they are actually selling for, and the volume of houses in your price range, and neighborhood.  Then, throw in the desirability and condition of your home, and your price will finally be set.  This takes some patience and courage, but the final result will be more showings which means more potential for a successful sale.

Reinhard Muller Certified International Real Estate Specialist RE/MAX Cannes, France

The Seller And Real Estate Agent Relationship - What The Homeowner Should Expect ?

We all want the sale of our house to go smoothly. We know that somewhere between sticking that sign in the front yard and packing up the moving van, there are a lot of details that need to be handled.  With these details comes stress, all bundled up in emotion.  Selling our home means more than signing on the bottom line.  That's where hiring the right real estate professional can be invaluable.  

Listing with a trustworthy real estate agent that you feel comfortable with can save a lot of money and time, but also a great many headaches and heartbreaks.  A knowledgeable, experienced agent understands the nuances of the real estate transaction as well as the emotions of the sale of one's home.  It takes a special understanding of what happens between the seller, or sellers, and potential buyers to keep everyone on track during potentially difficult times.

Contacting a real estate agent early in the process will help alleviate many of the problems that could arise in those first discussions about selling a house.  Once the right agent has been chosen by the seller, it's time to get to work finding out how to build a good relationship with their client.  This starts with learning about their clients and what motivates them.

A homeowner may be highly motivated to sell their home quickly.  For this type of imminent sale,  the time-frame may be tight.  Perhaps a job transfer is coming soon, or a new school year starts, or any number of reasons; some pleasant and some unpleasant.  A good agent wants to know the motivation in order to better serve you.  Be open and honest with the agent you choose.  There is no need to beat around the bush, your agent will soon know more about your personal life and finances than you would believe.  That is why choosing an agent with experience and integrity is so important.

Sometimes, a move is not imminent.  A homeowner may want to test the market for future decisions. Instead of guessing, homeowners should use a real estate agent's expertise to find out the true value of their home.  It prepares them better for making decisions for the future.  In other words, guessing what your home is worth is no way to prepare for a future sale of your home, or purchase of another. Your agent will want to know if this is the case so he or she can do some projecting into the future markets for you.  There is no reason to 'fool' an agent into thinking you're ready to list your home when you're not.

 A good agent wants to help you determine the value of your home whether or not you're ready to list.

Whether the sale of your home is planned soon or in the future, it is best to contact a qualified agent early in the process.  An experienced agent will help by getting the information straight right from the beginning in order to avoid mistakes early on.  The right agent will assist the seller in defining what is important during the process, provide a sounding board for ideas, and then help customize a plan of action.  

Once you have interviewed several agents, asked all your questions, and finally chosen the one that's right for you, it's time for the agent to turn the tables and ask you a few questions.  Any good agent will be sure to ask a potential client these simple questions:

• Do you need to sell your home soon?
• What is the reason you're selling your home now?
• Will you be open to negotiation with a buyer?
• Are you prepared financially to repair items that show up on the home inspection?
• Are you listing your home now in order to sell at a future date?
• Are you pricing your house as a way to test the market for a future sale?
• Have you tried to sell your house by yourself? If so, what have you tried?
• Are there back taxes owed?
• Are there liens on the property other than a mortgage?
• Are there any reasons that would prevent you from accepting an offer, other than price?

Of course some of this information will be discovered as the paperwork is prepared, but hearing it from the seller first matters.  If these questions seem intrusive, they are only designed to avoid an embarrassing, or worse, situation down the road.  Be prepared to share your story; this is only a short list of the questions you will expect a good real estate agent to ask a client.

There is much more to selling a house than getting the paperwork done.  An agent needs to learn first about the homeowner's reason for selling, how desperately they want to sell, and how much they are willing to sacrifice in order to sell.  All these questions may feel very personal, but a good agent will help their client understand that this confidential information is necessary in order to get their home sold as smoothly as possible.

Reinhard Muller, Certified International Real Estate Specialist, RE/MAX Cannes, France

When To Fire Your Real Estate Agent And Find A New One ?

Mistakes happen, even big ones like having hired the wrong real estate agent to help you sell your home.  Even though precious time has been wasted, the problem can be corrected by knowing when to fire your agent and find a new one to help you recover some of that lost time.  

The job of selling your home doesn't stop when you hire a real estate agent.  Part of your ongoing task is paying attention to what your agent is doing for you.  You need to have an understanding of the listing, the statistics, and how your home is being marketed.  

Regardless of how you found your current real estate agent, it is critical that if they are not performing as promised or expected, they must be replaced.  Although this may be difficult, especially if you have a personal relationship with your agent, it must be done if you expect to salvage your home sale.  Look for the following conditions, and if your agent is not providing professional services in any of these areas, you may need to look elsewhere.  

You need to fire your real estate agent if he or she is not:

• communicating with you on at least a weekly basis, keeping you informed as to what is happening in the local housing market as it pertains to the sale of your home
• marketing your home adequately on the internet where over 80% of buyers look for homes to buy first
• following up with agents who show your home to potential buyers, and acquiring feedback about the showing to provide to you
• advising you on how to show your home in the best possible way, and any changes that need to be made to improve your home's appeal
• recommending price adjustments backed up with factual data regarding current sales
• being honest with you about any aspect of your listing
• presenting any and all offers
• sharing your listing with other agents with potential buyers
• following the rules of the local MLS and using all their tools to your advantage
• current with their licenses, fees, and dues necessary to engage in their business
• actively pursuing potential buyers

It may be difficult to keep track of all these tasks, but it's your job as a seller to try. Let's take a look at a few of these areas of service in a little more detail to gain a better understanding of why this is so important.

Communication - We know that there are agents who make the mistake of not communicating with their sellers once they put a sign in the yard.  Without communication, first and foremost, the seller is left to wonder of their agent is doing anything for them.  

There are hundreds of actions realtors perform behind the scene that may go unnoticed by their client.  That why experienced agents understand that by communicating with you, they are assuring you that steps are actually being taken toward the successful sale of your home.

Market Statistics - If, as a seller, you keep abreast of the local home market statistics, such as what other homes are selling, how much they are selling for, how long other homes are on the market, and what homes have made price adjustments to keep up with the market, you will know if your agent is doing his or her job.  When a house isn't even shown while others are being sold in the same neighborhood, it's time for a discussion with your agent to see what's going wrong.  Only statistics about home sales can give you this heads up.

Internet Presence - Doing internet searches for your own home is another check you need to do early on.  Because  over 80% of buyers look for homes on the internet, this is something that can't wait a single day.  In a market full to the brim with house for sale, it's a first-come-first-serve mentality.  Be sure your agent has the latest and greatest online presence when it comes to your house.

Buyer's Agent Feedback - This is critical because it provides you, and your agent, with information about your home as seen through the buyer’s eyes.  Each time your house is shown, you should receive feedback from the buyer's agent.  Although it is polite for buyer’s agents to provide this feedback, it is not required of them, so many do not automatically do it.  Your agent should have systems in place to ensure feedback is sought via email as well as telephone calls to the buyer’s agent to make sure that you and your agent haven't missed anything.  For instance, something as simple as cluttered countertops in the kitchen may go unnoticed by you since you're living in the house on a daily basis.  However, as seen by a potential buyer, this may deter a second look and a possible offer.

Staging - Some agents are either too timid or simply do not know how to advise you on how to show your home so that buyers look at the qualities of your home instead of the stuff in your home.  Your agent may have to get tough with you.  If he or she doesn't, you are the one who's on the losing end.  Hire an agent who understands the importance of a first impression, and one who is not afraid to tell you to clean up your junk.  If you and your agent are on good terms, this should be well received advice.  A good agent may recommend you hire a home staging expert to help.

Price Wars -  A  good agent is confident with recommending a solid offer price on your home right from the beginning.  This means that pie-in-the-sky price you may be hoping to get may be just that; an unattainable dream.  Do you want to sell your house or do you want to sit with it on the market?  The price your house is listed for must be based on current market value of comparable sales in the existing market.  And, just as important, the market should be watched closely for additional price adjustments in order to keep your home in alignment with the market. A good agent will provide you with statistics on a routine basis and talk about adjusting the price of you listing openly and honestly.  Neither of you have anything to gain by letting your house sit on the market at an inflated price.

When you go out into the real estate world to list your house, be sure you do your homework when choosing an agent.  However, mistakes are possible.  Things change.  You may find yourself unhappy with the job your agent is doing for you.  Review the list of tasks he or she should be doing for you and be honest with yourself; is it time to fire your agent?  It's your listing, not theirs, and it's your house.  Make the best decision in your interest and get the best agent for the job.

Reinhard Muller, Certified International Real Estate Specialist, RE/MAX Cannes, France