Seller myth No. 1: Nows the absolute worst time to sell.
Not necessarily. It depends upon where you live. Many of the worst hit markets, like Las Vegas, Phoenix or San Diego, are already beginning to turn around. And if youre a homeowner who wants to trade up, the loss youll take on your current home will be more than offset by the bargain youll get on the next one.
Seller myth No. 2: Never respond to a low-ball bid.
All buyers today feel obligated to put in low-ball offers to see if the seller bites. If you respond with a reasonable counter offer, most buyers can be convinced to come up in price and make the deal.
Seller myth No. 3: The first offer is never the best offer.
Most sellers believe that its smart to hold out for something better. But four times out of five, the first offer is the best youll ever see.
Seller myth No. 4: ‘I can always reduce my price later.’
Sellers often price their home high for a few weeks just to test the market. But buyers shop by price bracket and if your house is in the wrong one, youll just help sell everyone elses home while yours sits there overpriced. And reducing your price later in small increments puts you in the position of chasing the tide as it goes out.
Seller myth No. 5: Before you refinance, shop around.
You can if you want, but youll usually get the best deal from your current lender. And youll be able to negotiate your closing costs.
Source: Barbara Corcoran
