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	<title>Arch City Homes &#187; Sellers</title>
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	<link>http://www.archcityhomes.com</link>
	<description>St. Louis Real Estate</description>
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		<title>Video Review #1 ~ Real Estate Clients of Karen Goodman</title>
		<link>http://www.archcityhomes.com/2010/09/video-review-1-real-estate-clients-of-karen-goodman/</link>
		<comments>http://www.archcityhomes.com/2010/09/video-review-1-real-estate-clients-of-karen-goodman/#comments</comments>
		<pubDate>Thu, 02 Sep 2010 16:23:15 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[About Karen]]></category>
		<category><![CDATA[SOLD!]]></category>
		<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Reviews]]></category>
		<category><![CDATA[Video]]></category>

		<guid isPermaLink="false">http://www.archcityhomes.com/?p=4528</guid>
		<description><![CDATA[Laura and David Hunt video review of Karen Goodman&#8217;s real estate services in the sale of their St. Charles condo. Video is becoming more and more a part of my business, so it makes sense to use it to introduce you to some of my clients and have them share with you their experiences in [...]<p><a href="http://www.archcityhomes.com/2010/09/video-review-1-real-estate-clients-of-karen-goodman/">Video Review #1 ~ Real Estate Clients of Karen Goodman</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<li><a href='http://www.archcityhomes.com/2010/01/how-to-choose-real-estate-agent-little-things-matter/' rel='bookmark' title='Permanent Link: Hiring a Real Estate Agent ~ Little Things Matter'>Hiring a Real Estate Agent ~ Little Things Matter</a></li>
<li><a href='http://www.archcityhomes.com/2009/05/announcment-joining-keller-williams/' rel='bookmark' title='Permanent Link: The Next Chapter in My Real Estate Career'>The Next Chapter in My Real Estate Career</a></li>
<li><a href='http://www.archcityhomes.com/2007/11/karen-goodman-your-friend-in-real-estate/' rel='bookmark' title='Permanent Link: Karen Goodman &#8211; Your Friend in Real Estate'>Karen Goodman &#8211; Your Friend in Real Estate</a></li>
</ol>]]></description>
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<p><em>Laura and David Hunt video review of Karen Goodman&#8217;s real estate services in the sale of their <a title="See the condo listing with video and pictures" href="../2010/06/1649-florine-blvd-st-charles/">St. Charles condo</a></em><em>. </em></p>
<p><strong>Video is becoming more and more a part of my business, so it makes sense to use it to introduce you to some of my clients and have them share with you their experiences in working with me and the Arch City Homes team. </strong></p>
<p style="text-align: center;"><img class="ngg-singlepic ngg-center aligncenter" src="http://www.archcityhomes.com/wp-content/gallery/clients/hunt-closing.jpg" alt="Laura and David Hunt with Karen Goodman, real estate agent" width="387" height="290" /></p>
<p>Laura was a first time buyer when she purchased her condo. Just a few years and a marriage later, Laura and David were ready to move on to the next stage of their life.</p>
<p>As first time sellers, they had a lot of questions. We talked through all of the issues and put together a great <a title="Marketing Homes for Sale in the Internet Era" href="http://www.archcityhomes.com/2009/07/marketing-homes-for-sale/">marketing plan</a>. But there were a number of condos on the market in their community and the overall condo market was severely depressed.</p>
<p>No matter what you do, it&#8217;s hard to sell a property when  their simply aren&#8217;t buyers. Determined to capture the next qualified buyer, we knew we had to be proactive.</p>
<p>We weren&#8217;t getting the number of showings that I hoped for in the first few weeks, so we made the decision to do a small price reduction and to offer a buyer&#8217;s agent bonus. <em><strong></strong></em></p>
<p><em><strong>Seven days later we had an accepted contract.</strong></em></p>
<p>In the end, it took us 42 days to get an accepted contract. We were the first condo out of the 6 available in the community to sell.</p>
<p>Now that Laura and David have sold the condo, I&#8217;m looking forward to working with them when they are ready to buy a house.</p>
<p><a href="http://www.archcityhomes.com/2010/09/video-review-1-real-estate-clients-of-karen-goodman/">Video Review #1 ~ Real Estate Clients of Karen Goodman</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
<div class="shr-publisher-4528"></div><div id="pfButton"><a href="http://www.archcityhomes.com/2010/09/video-review-1-real-estate-clients-of-karen-goodman/?pfstyle=wp" title="Print an optimized version of this web page" style="text-decoration: none;"><img id="printfriendly" style="border:none; padding:0;" src="http://cdn.printfriendly.com/pf-print-icon.gif" alt="Print"/><span style="font-size: 12px; color: #55750c;"> Print <img src="http://cdn.printfriendly.com/pf-pdf-icon.gif" alt="Get a PDF version of this webpage" /> PDF </span></a></div>

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<li><a href='http://www.archcityhomes.com/2010/01/how-to-choose-real-estate-agent-little-things-matter/' rel='bookmark' title='Permanent Link: Hiring a Real Estate Agent ~ Little Things Matter'>Hiring a Real Estate Agent ~ Little Things Matter</a></li>
<li><a href='http://www.archcityhomes.com/2009/05/announcment-joining-keller-williams/' rel='bookmark' title='Permanent Link: The Next Chapter in My Real Estate Career'>The Next Chapter in My Real Estate Career</a></li>
<li><a href='http://www.archcityhomes.com/2007/11/karen-goodman-your-friend-in-real-estate/' rel='bookmark' title='Permanent Link: Karen Goodman &#8211; Your Friend in Real Estate'>Karen Goodman &#8211; Your Friend in Real Estate</a></li>
</ol></p>]]></content:encoded>
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		<title>Video: How to Price your Home to Get it Sold</title>
		<link>http://www.archcityhomes.com/2010/08/video-how-to-price-your-home-to-get-it-sold/</link>
		<comments>http://www.archcityhomes.com/2010/08/video-how-to-price-your-home-to-get-it-sold/#comments</comments>
		<pubDate>Fri, 27 Aug 2010 15:44:25 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Pricing]]></category>
		<category><![CDATA[Video]]></category>

		<guid isPermaLink="false">http://www.archcityhomes.com/?p=4406</guid>
		<description><![CDATA[A few years ago, homes that were slightly overpriced and homes that were in just average condition sold every day. Times have changed. Jay Papasan, Vice President of Publishing at Keller Williams Realty and co-author of a bunch of great real estate books explains in this video how your price and your condition will determine [...]<p><a href="http://www.archcityhomes.com/2010/08/video-how-to-price-your-home-to-get-it-sold/">Video: How to Price your Home to Get it Sold</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<li><a href='http://www.archcityhomes.com/2010/04/marketing-real-estate-with-video/' rel='bookmark' title='Permanent Link: Marketing Homes for Sale with Video Tours'>Marketing Homes for Sale with Video Tours</a></li>
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<li><a href='http://www.archcityhomes.com/2008/04/how-do-you-get-a-home-to-sell-in-2-days-in-a-buyers-market/' rel='bookmark' title='Permanent Link: How Do You Get a Home to Sell in 2 Days in a Buyer&#8217;s Market?'>How Do You Get a Home to Sell in 2 Days in a Buyer&#8217;s Market?</a></li>
</ol>]]></description>
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<p><object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="480" height="385" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://www.youtube.com/v/TUJeJYHj-cE?fs=1&amp;hl=en_US" /><param name="allowfullscreen" value="true" /><embed type="application/x-shockwave-flash" width="480" height="385" src="http://www.youtube.com/v/TUJeJYHj-cE?fs=1&amp;hl=en_US" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p>A few years ago, homes that were slightly overpriced and homes that were in just average condition sold every day.</p>
<p>Times have changed.</p>
<p><a title="See Jay Papasan's LinkedIn profile" href="http://www.linkedin.com/in/jaypapasan">Jay Papasan, Vice President of Publishing at Keller Williams Realty</a> and <a title="Jay Papasan books" href="http://www.amazon.com/s?ie=UTF8&amp;rh=n%3A283155%2Cp_27%3AJay%20Papasan&amp;field-author=Jay%20Papasan&amp;page=1">co-author of a bunch of great real estate books</a> explains in this video how your price and your condition will determine if you are <em>IN</em> or <em>OUT</em> of the market.</p>
<p>Make no mistake, homes that are OUT of the market simply do not sell.</p>
<h2>How Many Many Homes have Sold in St. Louis this Year?</h2>
<p>As of today, <strong>more than half</strong> of the homes &amp; condos that were listed in St. Louis City, St. Louis County and St. Charles County <strong>FAILED</strong> to sell.</p>
<p>Between 1/1/10-8/26/10, there were <strong>12,209 closed MLS home &amp; condo sales </strong>and there were <strong>12,687 listings that were taken off the market WITHOUT selling</strong>.</p>
<p>In addition, the homes that <em>DID</em> sell are the ones that were priced right from the start.</p>
<h3>How Many Days Does it Take to Sell a Home in St. Louis?</h3>
<p>Over half of the closed sales got an accepted contract in 60 days or less, and over 2/3 got an accepted contract in 90 days or less.</p>
<ul>
<li>0-30 days &#8211; 31%</li>
<li>31-60 days &#8211; 22%</li>
<li>61-90 days &#8211; 15%</li>
<li>91-120 days &#8211; 10%</li>
<li>121 or longer &#8211; 23%</li>
</ul>
<p>Just deciding to sell your home doesn&#8217;t get it sold. Waiting it out doesn&#8217;t get it sold.</p>
<p>I&#8217;m a big fan of creative and aggressive marketing. But all the marketing in the world won&#8217;t sell an overpriced home.</p>
<p><em><strong>Pricing it appropriately for the condition, features and location IS what gets your home sold. </strong></em></p>
<p><a href="http://www.archcityhomes.com/2010/08/video-how-to-price-your-home-to-get-it-sold/">Video: How to Price your Home to Get it Sold</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
<div class="shr-publisher-4406"></div><div id="pfButton"><a href="http://www.archcityhomes.com/2010/08/video-how-to-price-your-home-to-get-it-sold/?pfstyle=wp" title="Print an optimized version of this web page" style="text-decoration: none;"><img id="printfriendly" style="border:none; padding:0;" src="http://cdn.printfriendly.com/pf-print-icon.gif" alt="Print"/><span style="font-size: 12px; color: #55750c;"> Print <img src="http://cdn.printfriendly.com/pf-pdf-icon.gif" alt="Get a PDF version of this webpage" /> PDF </span></a></div>

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<li><a href='http://www.archcityhomes.com/2010/04/marketing-real-estate-with-video/' rel='bookmark' title='Permanent Link: Marketing Homes for Sale with Video Tours'>Marketing Homes for Sale with Video Tours</a></li>
<li><a href='http://www.archcityhomes.com/2008/11/how-to-get-multiple-offers-on-a-home-in-a-buyers-market/' rel='bookmark' title='Permanent Link: How to Get Multiple Offers on a Home in a Buyer&#8217;s Market'>How to Get Multiple Offers on a Home in a Buyer&#8217;s Market</a></li>
<li><a href='http://www.archcityhomes.com/2008/04/how-do-you-get-a-home-to-sell-in-2-days-in-a-buyers-market/' rel='bookmark' title='Permanent Link: How Do You Get a Home to Sell in 2 Days in a Buyer&#8217;s Market?'>How Do You Get a Home to Sell in 2 Days in a Buyer&#8217;s Market?</a></li>
</ol></p>]]></content:encoded>
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		<title>Who are the Top Real Estate Agents in St. Louis?</title>
		<link>http://www.archcityhomes.com/2010/07/who-are-best-real-estate-agents-st-louis/</link>
		<comments>http://www.archcityhomes.com/2010/07/who-are-best-real-estate-agents-st-louis/#comments</comments>
		<pubDate>Thu, 08 Jul 2010 03:24:43 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Brentwood]]></category>
		<category><![CDATA[Olivette]]></category>
		<category><![CDATA[Shaw]]></category>
		<category><![CDATA[Soulard]]></category>

		<guid isPermaLink="false">http://www.archcityhomes.com/?p=4254</guid>
		<description><![CDATA[Every few months, I get a call from someone who wants me to meet with them about listing their home, but they also plan to meet with the neighborhood expert who sells “most of the homes in the neighborhood.” You probably aren’t surprised that most people think they will be better served by an agent [...]<p><a href="http://www.archcityhomes.com/2010/07/who-are-best-real-estate-agents-st-louis/">Who are the Top Real Estate Agents in St. Louis?</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<li><a href='http://www.archcityhomes.com/2009/01/fsbo-tips-part-1/' rel='bookmark' title='Permanent Link: FSBO Home Sellers Need to Beat the Odds'>FSBO Home Sellers Need to Beat the Odds</a></li>
<li><a href='http://www.archcityhomes.com/2008/02/when-you-are-ready-to-sell-your-home-should-you-hire-the-top-agent-in-your-subdivision/' rel='bookmark' title='Permanent Link: When you are Ready to Sell your Home, Should you Hire the Top Agent in your Subdivision?'>When you are Ready to Sell your Home, Should you Hire the Top Agent in your Subdivision?</a></li>
<li><a href='http://www.archcityhomes.com/2008/01/choosing-an-agent-to-sell-your-home-does-the-brokerage-really-matter/' rel='bookmark' title='Permanent Link: Choosing an Agent to Sell your Home: Does the Brokerage Really Matter?'>Choosing an Agent to Sell your Home: Does the Brokerage Really Matter?</a></li>
</ol>]]></description>
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			<a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Fwww.archcityhomes.com%2F2010%2F07%2Fwho-are-best-real-estate-agents-st-louis%2F"><br />
				<img src="http://api.tweetmeme.com/imagebutton.gif?url=http%3A%2F%2Fwww.archcityhomes.com%2F2010%2F07%2Fwho-are-best-real-estate-agents-st-louis%2F&amp;source=karenstl&amp;style=normal" height="61" width="50" /><br />
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<p><img class="ngg-singlepic ngg-left alignleft" style="margin: 5px;" src="http://www.archcityhomes.com/wp-content/gallery/stock-photos/j0430681.jpg" alt="Award winner" width="146" height="146" />Every few months, I get a call from someone who wants me to meet with  them about listing their home, but they also plan to meet with the <em>neighborhood  expert</em> who sells “most of the homes in the neighborhood.”</p>
<p>You probably aren’t surprised that most people think they  will be better served by an agent who does a ton of business in the  area.</p>
<p><em><strong>But I bet you would be surprised that there is almost never an agent or company who does the majority  of the business for a specific neighborhood or part of town.<br />
</strong></em></p>
<p>To prove the point, I often run a report which lists every agent who  has had a home sale in the neighborhood or area. It never fails that the  top agents have a very small % of the market share and the vast majority of sales are by agents who had just one sale in the area.</p>
<h2>Most Homes are Sold by Agents with Only 1 Sale in the Area:</h2>
<p>I have a new listing that is coming on the market this week in the <strong>Shaw neighborhood</strong> in St. Louis City.</p>
<p>Since Jan. 1, 2009, there have been 55 home sales in the Shaw neighborhood. These 55 homes were listed by 44 different agents.</p>
<ul>
<li>#1 agent had only 4 listings (7% market share)</li>
<li>2 agents tied for the #2 spot with 3 listings each (5% market share each)</li>
<li>4 agents tied for the #3 spot with 2 listings each (4% market share each)</li>
<li>37 agents had 1 listing in the neighborhood (67% of the sales)</li>
</ul>
<p>Let&#8217;s try a couple of other areas.</p>
<h3>Brentwood:</h3>
<p>164 home sales since Jan. 1, 2010 &#8211; listed by 120 different agents</p>
<ul>
<li>#1 agent had only 13 listings (8% market share)</li>
<li>#2 agent had only 6 listings (4% market share)</li>
<li> #3 agent had only 5 listings (3% market share)</li>
<li>101 agents had only 1 listing (62% of the sales)</li>
</ul>
<h3>Olivette:</h3>
<p>110 home sales since Jan. 1, 2010 &#8211; listed by 81 different agents</p>
<ul>
<li>#1 agent had only 15 listings (14% market share)</li>
<li>#2 agent had only 5 listings (5% market share)</li>
<li> #3 agent had only 3 listings (3% market share)</li>
<li>69 agents had only 1 listing (85% of the sales)</li>
</ul>
<h3>Soulard:</h3>
<p>35 home sales since Jan. 1, 2010 &#8211; listed by 26 different agents</p>
<ul>
<li>#1 agent had only 4 listings (11% market share)</li>
<li>2 agents tied for the #2 spot with 3 listings each (9% market share)</li>
<li> 2 agents tied for the #3 spot with 2  listings each (6% market share)</li>
<li>21 agents had only 1 listing (81% of  the sales)</li>
</ul>
<h2>Who are the Top Listing Agents in <em>YOUR</em> Neighborhood?</h2>
<p>Or does it even matter.</p>
<p>There are a lot of questions you should ask before you hire a real estate agent, but how many listings they sold in the neighborhood might not be the most important question.</p>
<p><a href="http://www.archcityhomes.com/2010/07/who-are-best-real-estate-agents-st-louis/">Who are the Top Real Estate Agents in St. Louis?</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
<div class="shr-publisher-4254"></div><div id="pfButton"><a href="http://www.archcityhomes.com/2010/07/who-are-best-real-estate-agents-st-louis/?pfstyle=wp" title="Print an optimized version of this web page" style="text-decoration: none;"><img id="printfriendly" style="border:none; padding:0;" src="http://cdn.printfriendly.com/pf-print-icon.gif" alt="Print"/><span style="font-size: 12px; color: #55750c;"> Print <img src="http://cdn.printfriendly.com/pf-pdf-icon.gif" alt="Get a PDF version of this webpage" /> PDF </span></a></div>

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<li><a href='http://www.archcityhomes.com/2008/01/choosing-an-agent-to-sell-your-home-does-the-brokerage-really-matter/' rel='bookmark' title='Permanent Link: Choosing an Agent to Sell your Home: Does the Brokerage Really Matter?'>Choosing an Agent to Sell your Home: Does the Brokerage Really Matter?</a></li>
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		<title>Are Zillow Price Estimates Accurate for St. Louis Homes?</title>
		<link>http://www.archcityhomes.com/2010/04/zillow-price-estimates-accuracy-st-louis-mo/</link>
		<comments>http://www.archcityhomes.com/2010/04/zillow-price-estimates-accuracy-st-louis-mo/#comments</comments>
		<pubDate>Sun, 25 Apr 2010 16:39:13 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Buyers]]></category>
		<category><![CDATA[Sellers]]></category>
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		<description><![CDATA[Most real estate agents don&#8217;t like Zillow. Initially, I think it was a reaction to losing control. For years, agents where the keepers of the housing data. Buyers and sellers had to call an agent when they were trying to determine the value of a home. Public tax records offered the sale price of properties, [...]<p><a href="http://www.archcityhomes.com/2010/04/zillow-price-estimates-accuracy-st-louis-mo/">Are Zillow Price Estimates Accurate for St. Louis Homes?</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<p style="text-align: center;"><img class="ngg-singlepic ngg-center aligncenter" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/zillow-logo.gif" alt="Zillow logo" width="385" height="98" /></p>
<p><strong>Most real estate agents don&#8217;t like <a href="http://www.zillow.com/">Zillow</a>.</strong></p>
<p>Initially, I think it was a reaction to losing control. For years, agents where the keepers of the housing data. Buyers and sellers had to call an agent when they were trying to determine the value of a home. Public tax records offered the sale price of properties, but they didn&#8217;t include much information to tell you how that house might compare to your house. And often the public tax records weren&#8217;t online, so getting the information meant a trip the the county records office.</p>
<p><em><strong>Then came Zillow.</strong></em></p>
<p>Zillow offers visitors a database of property information across the U.S. They aggregate information from multiple sources including tax records and home sale advertising. They even allow property owners to add additional information to a listing.</p>
<p>Zillow then crunches the information and spits out an estimated home value.</p>
<h2>Margin of Error</h2>
<p>The site clearly informs visitors that there is a <a title="See the margin of error for major U.S. cities" href="http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm">margin of error</a> on every home value, and they give a high and low range in addition to the estimated home value <em>(Zillow calls their home value estimates &#8220;Zestimates&#8221;).</em></p>
<p>Depending on the city, the range might be narrow or quite large since the margin of error varies from city to city.</p>
<p><strong><em>Since the information available to Zillow is incomplete, there is no way that their computer calculations can provide a definitive value.</em></strong> They even claim on their own site that the Zestimate is only designed to give you a starting point for evaluating the value of a home.</p>
<blockquote>
<h3>What&#8217;s a Zestimate?</h3>
<p>A Zestimate home valuation is Zillow&#8217;s estimated market value. It is  not an appraisal. Use it as a starting point to determine a home&#8217;s  value.</p></blockquote>
<p>They don&#8217;t have information on if the home is updated or not. They don&#8217;t know if the house backs to a busy street or to power lines. They don&#8217;t factor in that the owners painted the shutters pink and the front yard doesn&#8217;t have any landscaping.</p>
<h2>How accurate are Zillow&#8217;s estimates for St. Louis homes?</h2>
<p>According to Zillow, they have 99% of St. Louis area properties on their site, and 94% of the properties have an estimated value.</p>
<p>Zillow reports on their accuracy by comparing their latest Zestimate with actual sale price of sold homes.</p>
<p><strong>St. Louis Homes:</strong></p>
<ul>
<li>23% of Zestimates are within 5% of the sale price</li>
<li>42% of Zestimates are within 10% of the sale price</li>
<li>66% of Zestimates are within 20% of the sale price</li>
</ul>
<p>To put that into real numbers:</p>
<ul>
<li>$200,000 sale price</li>
<li>only 1 in 4 would have been estimated from $190,000 &#8211; $210,000</li>
<li>less than half (4 in 10) would have been estimated from $180,000 &#8211; $220,000</li>
<li>2 in 3 would have been estimated from $160,000 &#8211; $240,000</li>
</ul>
<p>It seems to me that these numbers aren&#8217;t very helpful when pinpointing the real value of a particular home. If you did a home search on any local real estate site, you could come up with this range on your own.</p>
<h2>Pricing My New Listing</h2>
<p>I have a new listing that will be coming on the market in the next few weeks. It&#8217;s a great house in Ballwin with a popular floor plan and is in excellent condition. The homes in this subdivision typically sell pretty easily. In fact, all 4 of the homes which have sold and closed in the last year had an accepted contract in less than 30 days.</p>
<p>Based on a thorough pricing analysis, the owners and I agreed to price the home at $279,900. It&#8217;s a fair price &#8211; not pushing for an unrealistic price or pricing it so low that it will be guaranteed to sell fast.</p>
<p>Fortunately, my clients understand that Zillow&#8217;s estimate is JUST an estimate (Zillow valued the house at $292,500).</p>
<p>If we tried to list it at Zillow&#8217;s price, we would still be looking for a buyer 6 months from now. Of course, the range of $257,000 &#8211; $316,000 is pretty wide. Seems to me that you could throw a dart at a wall and hit something between those values.</p>
<p><em><strong>On the other hand, maybe it will help us sell when buyers take a look  at Zillow&#8217;s estimate and think that they are getting the house for a  steal. </strong></em></p>
<p><img class="ngg-singlepic ngg-none" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/zillow-post-1131-oak-borough-stats.gif" alt="Zillow information - 1131 Oak Borough Dr, Ballwin, MO 63021" width="590" height="356" /></p>
<p><em>Once this house is listed for sale, the Zillow listing will </em><em>include the advertising remarks and pictures, along with the current listing price. </em></p>
<p><img class="ngg-singlepic ngg-none" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/zillow-post-1131-oak-borough-chart.gif" alt="Zillow chart - 1131 Oak Borough Dr, Ballwin MO 63021" width="590" height="454" /></p>
<p><em><strong>Do you see how Zillow&#8217;s value for this home jumps up &amp; down within just a few months? </strong>If you are going to use Zillow to get an estimate on the value of your home, you need to focus on this graph more than on the Zestimate on any given day. </em></p>
<h2>What do I think of Zillow?</h2>
<p>I think Zillow can be very helpful in aggregating information from various sources so consumers have one place to look for information including the listed price of a home for sale plus tax and pricing history. I think it is helpful to see the overall trends for pricing in an area too.</p>
<p>I also like the tool that allows you to modify the estimate&#8230;plugging in projects that have been done or you plan to do (such as a bathroom remodel) to see how home improvements affect the value of a home.</p>
<p>My only complaint is not with Zillow, but with home buyers and sellers who use the Zillow Zestimate as an absolute value rather than a starting point when trying to determine value.</p>
<p><a href="http://www.archcityhomes.com/2010/04/zillow-price-estimates-accuracy-st-louis-mo/">Are Zillow Price Estimates Accurate for St. Louis Homes?</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
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<li><a href='http://www.archcityhomes.com/2009/12/marketing-homes-with-zoom-pictures/' rel='bookmark' title='Permanent Link: New Arch City Homes Feature: Zoom-able Home Pictures'>New Arch City Homes Feature: Zoom-able Home Pictures</a></li>
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		<title>Marketing Homes for Sale with Video Tours</title>
		<link>http://www.archcityhomes.com/2010/04/marketing-real-estate-with-video/</link>
		<comments>http://www.archcityhomes.com/2010/04/marketing-real-estate-with-video/#comments</comments>
		<pubDate>Sat, 24 Apr 2010 14:08:33 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Tech]]></category>
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		<description><![CDATA[Originally published 12/5/09. Updated 4/24/10 to reflect current services to Arch City Homes sellers. Recently I started experimenting with using video to promote homes and condos for sale. Virtual Tour Options: A few years ago, tech savvy agents started adding 360° virtual tours to their listings. If you haven&#8217;t seen any of them, the basic [...]<p><a href="http://www.archcityhomes.com/2010/04/marketing-real-estate-with-video/">Marketing Homes for Sale with Video Tours</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<p><em>Originally published 12/5/09. Updated 4/24/10 to reflect current services to Arch City Homes sellers. </em></p>
<p><strong>Recently I started experimenting with using video to promote homes and condos for sale.</strong></p>
<h2><img class="ngg-singlepic ngg-right alignright" src="http://www.archcityhomes.com/wp-content/gallery/stock-photos/875252_cameraman_.jpg" alt="Professional video shoot for real estate listings" width="211" height="300" />Virtual Tour Options:</h2>
<p>A few years ago, tech savvy agents started adding 360° virtual tours to their listings. If you haven&#8217;t seen any of them, the basic concept is that a video camera is placed in the center of a room and slowly pans so you get a complete view of the room.</p>
<p>There were a couple of problems with these virtual tours. They were really expensive so agents only hired videographers to do the virtual tour on a couple of rooms. The rooms were often distorted, so it was hard to get a feel for the true size of the room. Though these virtual tours were a nice perk to have on a listing, the bottom line was that they didn&#8217;t sell more homes and most agents stopped using them because the cost wasn&#8217;t justified.</p>
<p>When you click on a listing today and see a link for a &#8220;Virtual Tour&#8221;, you will typically find a photo slide show with shifting pictures set to music. Until recently, I set up a simple <a title="See Karen's listing slideshows" href="http://tours.realspacetours.com/kgoodman">slide show for each of my listings</a>.</p>
<p><a title="Virtual Tour slideshow for 41 Timber Oaks Trail, O'Fallon, MO " href="http://tours.realspacetours.com/kgoodman/41-Timber-Oaks-Trail"><img class="ngg-singlepic ngg-none alignnone" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/realspace-tour-41-timber-oaks-screenshot.png" alt="realspace-tour-41-timber-oaks-screenshot.png" width="263" height="231" /></a></p>
<p><strong><em>However, slide shows with shifting pictures don&#8217;t add any new information for a potential home buyer. And to be honest, they are pretty boring to watch.</em></strong></p>
<p>In St. Louis, real estate agents are allowed to include up to 99 pictures in the MLS listing and add captions to each picture. So, other than some pretty music, these slide shows don&#8217;t add any value to the home sale listing.</p>
<p><strong>Instead, I recently started spending some extra money so I can offer my clients production quality video that includes pictures, video and captions.</strong></p>
<p><object id="vp1qHIgC" classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="432" height="240" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://static.animoto.com/swf/w.swf?w=swf/vp1&amp;e=1272117753&amp;f=qHIgCP0dDWUMTWO5qz9UPw&amp;d=188&amp;m=p&amp;r=w&amp;i=m&amp;ct=get%20more%20info&amp;cu=http://www.archcityhomes.com/featured-listings/&amp;options=" /><param name="allowfullscreen" value="true" /><embed id="vp1qHIgC" type="application/x-shockwave-flash" width="432" height="240" src="http://static.animoto.com/swf/w.swf?w=swf/vp1&amp;e=1272117753&amp;f=qHIgCP0dDWUMTWO5qz9UPw&amp;d=188&amp;m=p&amp;r=w&amp;i=m&amp;ct=get%20more%20info&amp;cu=http://www.archcityhomes.com/featured-listings/&amp;options=" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<h2>Video Tours to Market Homes for Sale:</h2>
<p>For most properties, I also provide a live-action video tour. These videos give buyers some information that they can&#8217;t get from pictures and marketing remarks.</p>
<p>Video allows you to see the flow from one room to the next. Video can also let you see small details that would be overlooked in the regular pictures. I&#8217;m not going to upload a picture of a ceramic tile floor in a bathroom to one of my MLS listings, but I can easily capture the floor in a video.</p>
<p><strong>Video also allows me to showcase the community. </strong></p>
<p>I can include shots of nearby recreation, parks and shopping districts.  MLS rules in St. Louis don&#8217;t allow us to include any pictures other than the home for sale or subdivision/complex amenities, so there is no way to <em>SHOW</em> a buyer what the shopping district looks like or the amazing park 2 blocks away.</p>
<p><a style="&amp;quot;border: none;" title="Buy a Flip Video camera at Amazon (affiliate link)" href="&lt;a href=&quot;http://www.amazon.com/gp/product/B0023B14TK?ie=UTF8&amp;tag=arccithom-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=B0023B14TK&quot;&gt;&lt;img border=&quot;0&quot; src="><img class="ngg-singlepic ngg-left alignleft" src="http://www.archcityhomes.com/wp-content/gallery/stock-photos/flip-videocamera.jpg" alt="Flip video camera" width="112" height="112" /></a>My videos give buyers the information they need to get excited about a property. Buyers can get a feel for the floor plan and see important details such as walk-in closets and laundry rooms. Then I finish off with a quick overview of what they will find in their new community.</p>
<p>I&#8217;ve only shot a few of these videos, and I&#8217;m learning more about <em>what to do</em> and <em>what NOT to do</em> with each one. I know these videos shot with my <em></em><em><a title="Buy a Flip Video camera at Amazon (affiliate  link)" href="http://www.amazon.com/gp/product/B0023B14TK?ie=UTF8&amp;tag=arccithom-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=B0023B14TK">Flip   Video Camera</a></em> are not polished shoots, but then again, I don&#8217;t think my clients want to pay a higher commission so that I can have a professional video created for their homes.</p>
<p>All I know is that if I was a buyer, I would happily live through a so-so video if it meant that I got more information about a property.</p>
<p>Check out my first few attempts at video tours.</p>
<p><strong><em>If you were a buyer, would a video like this help you decide if you wanted to go see a home?</em></strong></p>
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<p><object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="425" height="344" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://www.youtube.com/v/O0odQ5fcp5Q&amp;hl=en_US&amp;fs=1&amp;" /><param name="allowfullscreen" value="true" /><embed type="application/x-shockwave-flash" width="425" height="344" src="http://www.youtube.com/v/O0odQ5fcp5Q&amp;hl=en_US&amp;fs=1&amp;" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p><a href="http://www.archcityhomes.com/2010/04/marketing-real-estate-with-video/">Marketing Homes for Sale with Video Tours</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
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</ol></p>]]></content:encoded>
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		<title>Selling Homes on the Internet ~ #1 Tip for Success</title>
		<link>http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/</link>
		<comments>http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/#comments</comments>
		<pubDate>Mon, 12 Apr 2010 19:35:44 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Tech]]></category>
		<category><![CDATA[Video]]></category>

		<guid isPermaLink="false">http://www.archcityhomes.com/?p=3956</guid>
		<description><![CDATA[Most real estate agents understand that they need a website to advertise their listings and win over clients. But having a website simply isn&#8217;t enough. If serious attention isn&#8217;t paid to creating content on the website which will attract home buyers, no one will ever see the ads. Or, buyers will find the home listing [...]<p><a href="http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/">Selling Homes on the Internet ~ #1 Tip for Success</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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</ol>]]></description>
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<p>Most real estate agents understand that they need a website to advertise their listings and win over clients.</p>
<p><strong>But having a website simply isn&#8217;t enough. </strong></p>
<p>If serious attention isn&#8217;t paid to creating content on the website which will attract home buyers, no one will ever see the ads. Or, buyers will find the home listing on some other website and when they click the link to <em><strong>schedule a showing, </strong></em>they will be contacted by an agent who really doesn&#8217;t care which home they buy, as long as they buy something.</p>
<h2>Arch City Homes Internet Strategy:</h2>
<p>At <em><strong>Arch City Homes, </strong></em>we work hard to make sure that people who are thinking about buying a home in the St. Louis area land on this website. Whether they initially find us because they are looking for <a title="See all posts tagged &quot;Crime&quot;" href="http://www.archcityhomes.com/tag/crime/">safe neighborhoods</a>, <a title="See all posts tagged &quot;Housing Market&quot;" href="http://www.archcityhomes.com/tag/housing-market/">market trends</a> or <a title="See all posts tagged &quot;Schools&quot;" href="http://www.archcityhomes.com/tag/schools/">school</a> rankings, they end up checking out our <a title="Search St. Louis homes for sale" href="http://www.archcityhomes.com/home-search/">home search</a> and <a title="See the Arch City Homes featured listings" href="http://www.archcityhomes.com/featured-listings/">featured listings</a>.</p>
<p>Many of our site visitors end up bookmarking the home search page, or even registering so they can get notified of new listings and price changes.</p>
<h3>So what is the #1 Tip for Success at Selling Homes on the Internet?</h3>
<p><em>Create a website where home buyers will contact the listing agent directly for more information, and then do the work so that the site is at the top of Google&#8217;s search results when buyers start looking for homes or information. </em></p>
<p>If you hire <em><strong>Arch City Homes</strong></em> to sell your home, you can be assured that when a buyer contacts us to get more information about your home, we&#8217;ll be doing our best to sell <em><strong>your</strong></em> property.</p>
<p><object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="580" height="360" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://www.youtube.com/v/zD4NctsXUJs&amp;hl=en_US&amp;fs=1&amp;rel=0&amp;color1=0x2b405b&amp;color2=0x6b8ab6&amp;border=1" /><param name="allowfullscreen" value="true" /><embed type="application/x-shockwave-flash" width="580" height="360" src="http://www.youtube.com/v/zD4NctsXUJs&amp;hl=en_US&amp;fs=1&amp;rel=0&amp;color1=0x2b405b&amp;color2=0x6b8ab6&amp;border=1" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p><em>Thanks to <a title="Tech Savvy Agent educates real estate agents on technology tools" href="http://techsavvyagent.com/2010/04/12/google-search-stories-real-estate-technology-edition/comment-page-1/#comment-1074">Tech Savvy Agent</a> for pointing out <a title="Make your own Search Story video" href="http://www.youtube.com/searchstories">Google&#8217;s Search Story tool</a>. </em></p>
<p><a href="http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/">Selling Homes on the Internet ~ #1 Tip for Success</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
<div class="shr-publisher-3956"></div><div id="pfButton"><a href="http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/?pfstyle=wp" title="Print an optimized version of this web page" style="text-decoration: none;"><img id="printfriendly" style="border:none; padding:0;" src="http://cdn.printfriendly.com/pf-print-icon.gif" alt="Print"/><span style="font-size: 12px; color: #55750c;"> Print <img src="http://cdn.printfriendly.com/pf-pdf-icon.gif" alt="Get a PDF version of this webpage" /> PDF </span></a></div>

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<li><a href='http://www.archcityhomes.com/2009/12/marketing-homes-with-zoom-pictures/' rel='bookmark' title='Permanent Link: New Arch City Homes Feature: Zoom-able Home Pictures'>New Arch City Homes Feature: Zoom-able Home Pictures</a></li>
<li><a href='http://www.archcityhomes.com/2009/11/homes-for-sale-internet-advertising/' rel='bookmark' title='Permanent Link: Homes for Sale Now Syndicated to 30+ Websites'>Homes for Sale Now Syndicated to 30+ Websites</a></li>
<li><a href='http://www.archcityhomes.com/2009/07/marketing-homes-for-sale/' rel='bookmark' title='Permanent Link: Marketing Homes for Sale in the Internet Era'>Marketing Homes for Sale in the Internet Era</a></li>
</ol></p>]]></content:encoded>
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		<title>Selling a Home ~ Discount Listings vs. Full Service Listings</title>
		<link>http://www.archcityhomes.com/2010/03/flat-fee-vs-full-service-listings/</link>
		<comments>http://www.archcityhomes.com/2010/03/flat-fee-vs-full-service-listings/#comments</comments>
		<pubDate>Tue, 23 Mar 2010 02:35:46 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[About Real Estate]]></category>
		<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Keller Williams]]></category>
		<category><![CDATA[MLS]]></category>

		<guid isPermaLink="false">http://www.archcityhomes.com/?p=3814</guid>
		<description><![CDATA[I recently posted information from Gary Keller&#8217;s Vision Speech covering the current housing market and economic trends and information on what buyers and sellers are looking for when they search for homes. Today I&#8217;m sharing with you the portion of the Vision Speech comparing full service real estate brokerages to discount brokerages (often called limited [...]<p><a href="http://www.archcityhomes.com/2010/03/flat-fee-vs-full-service-listings/">Selling a Home ~ Discount Listings vs. Full Service Listings</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



Possibly Related Posts:<ol><li><a href='http://www.archcityhomes.com/2010/08/new-photograph-requirement-for-st-louis-mls-home-listings/' rel='bookmark' title='Permanent Link: New Photograph Requirement for St. Louis Home Listings'>New Photograph Requirement for St. Louis Home Listings</a></li>
<li><a href='http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/' rel='bookmark' title='Permanent Link: Selling Homes on the Internet ~ #1 Tip for Success'>Selling Homes on the Internet ~ #1 Tip for Success</a></li>
<li><a href='http://www.archcityhomes.com/2010/03/nar-2009-buyer-seller-survey/' rel='bookmark' title='Permanent Link: What is Important to Home Buyers and Sellers?'>What is Important to Home Buyers and Sellers?</a></li>
<li><a href='http://www.archcityhomes.com/2008/01/a-bad-resume-can-prevent-your-home-listing-from-selling/' rel='bookmark' title='Permanent Link: A Bad Resume Can Prevent Your Home Listing from Selling'>A Bad Resume Can Prevent Your Home Listing from Selling</a></li>
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<p>I recently posted information from Gary Keller&#8217;s Vision Speech covering the <a title="Keller Williams Family Reunion speech - housing market and economic issues" href="http://www.archcityhomes.com/2010/03/housing-market-trends-presentation/">current housing market and economic trends</a> and information on <a title="NAR Buyer &amp; Seller survey results" href="http://www.archcityhomes.com/2010/03/nar-2009-buyer-seller-survey/">what buyers and sellers are looking for</a> when they search for homes.</p>
<p><img class="ngg-singlepic ngg-left alignleft" style="margin-left: 5px; margin-right: 5px;" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/family-reunion-2010-web.jpg" alt="Keller Williams Family Reunion 2010" width="120" height="120" /><strong>Today I&#8217;m sharing with you the portion of the Vision Speech comparing full service real estate brokerages to discount brokerages (often called limited service, flat fee or MLS only listings). </strong></p>
<p>It&#8217;s not surprising that a portion of home sellers want to save money by hiring a discount real estate company.</p>
<p>In exchange for a few hundred dollars, the discount agent will put the listing in the MLS and will assist with the contract paperwork if an offer comes in. The discount agents don&#8217;t offer advice on pricing, staging or help write marketing remarks. They don&#8217;t advertise the home, and usually they don&#8217;t even provide a sign for the yard or a lockbox so that buyer agents can access the property without the seller being home.</p>
<p>Since the MLS only agent is paid upfront and doesn&#8217;t get paid any additional money if the house sells, they actually work harder for the same money if the home sells.</p>
<p>In this compensation model, there is no incentive for the discount agent to provide additional services or work to keep the deal together that hits bumps on the way to closing.</p>
<p><strong>Full Service Real Estate Brokerages vs Discount Brokerages:</strong></p>
<p>Click on the picture below to see the slide show covering the differences between the top 5 full service real estate brokerage companies and discount brokerages:</p>
<ul>
<li>percentage of listings that fail to sell</li>
<li>average sale price</li>
<li>how long does it take to sell</li>
<li>how many listings are discounted listings</li>
</ul>
<p style="text-align: center;"><a title="Keller Williams Vision Speech - Discount vs Full Service Brokerages" href="https://www.sugarsync.com/pf/D797925_090489_692270"><img class="aligncenter" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/kw-vision-speech-2010-image.jpg" alt="2010 Keller Williams Vision Speech" width="475" height="266" /></a></p>
<h2>Bottom Line:</h2>
<p><strong>Homes listed with one of the top 5 full service brokerages are more likely to sell, sell for more money and sell faster.</strong></p>
<p>I&#8217;m not suggesting that smaller or independent full service brokerages don&#8217;t do a good job of selling homes. They simply weren&#8217;t evaluated in this study.</p>
<p>Home sellers also appear to understand that successfully selling a home in today&#8217;s housing market isn&#8217;t a sure thing. In order to have the best chances to sell at the highest price, more and more of them understand that you get what you pay for.</p>
<p>Hiring a discount agent, often means selling for a discount too.</p>
<p><a href="http://www.archcityhomes.com/2010/03/flat-fee-vs-full-service-listings/">Selling a Home ~ Discount Listings vs. Full Service Listings</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
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<li><a href='http://www.archcityhomes.com/2010/04/selling-homes-on-the-internet-1-tip-for-success/' rel='bookmark' title='Permanent Link: Selling Homes on the Internet ~ #1 Tip for Success'>Selling Homes on the Internet ~ #1 Tip for Success</a></li>
<li><a href='http://www.archcityhomes.com/2010/03/nar-2009-buyer-seller-survey/' rel='bookmark' title='Permanent Link: What is Important to Home Buyers and Sellers?'>What is Important to Home Buyers and Sellers?</a></li>
<li><a href='http://www.archcityhomes.com/2008/01/a-bad-resume-can-prevent-your-home-listing-from-selling/' rel='bookmark' title='Permanent Link: A Bad Resume Can Prevent Your Home Listing from Selling'>A Bad Resume Can Prevent Your Home Listing from Selling</a></li>
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		<title>What is Important to Home Buyers and Sellers?</title>
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		<pubDate>Thu, 11 Mar 2010 14:53:38 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[About Real Estate]]></category>
		<category><![CDATA[Sellers]]></category>
		<category><![CDATA[First Time Buyers]]></category>
		<category><![CDATA[FSBO]]></category>
		<category><![CDATA[Keller Williams]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Survey]]></category>

		<guid isPermaLink="false">http://www.archcityhomes.com/?p=3791</guid>
		<description><![CDATA[Yesterday I showed you the portions of Gary Keller&#8217;s Vision Speech from the 2010 Keller Williams Family Reunion which focused on the U.S. housing market and economic trends. Gary also spent time discussing the results of the National Association of Realtors (NAR) 2009 buyer/seller survey. I&#8217;ve read the entire NAR report, and Gary did a [...]<p><a href="http://www.archcityhomes.com/2010/03/nar-2009-buyer-seller-survey/">What is Important to Home Buyers and Sellers?</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<li><a href='http://www.archcityhomes.com/2009/01/20-tips-for-fsbo-sellers/' rel='bookmark' title='Permanent Link: 20 Tips for FSBO Sellers'>20 Tips for FSBO Sellers</a></li>
<li><a href='http://www.archcityhomes.com/2009/01/fsbo-tips-part-1/' rel='bookmark' title='Permanent Link: FSBO Home Sellers Need to Beat the Odds'>FSBO Home Sellers Need to Beat the Odds</a></li>
<li><a href='http://www.archcityhomes.com/2008/08/5-choices-for-sellers-when-their-home-just-wont-sell/' rel='bookmark' title='Permanent Link: 5 Choices for Sellers When their Home Just Won&#8217;t Sell'>5 Choices for Sellers When their Home Just Won&#8217;t Sell</a></li>
</ol>]]></description>
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<p>Yesterday I showed you the portions of Gary Keller&#8217;s Vision Speech from the 2010 Keller Williams Family Reunion which focused on the U.S. <a title="2010 Vision Speech - housing market and economic trends" href="http://www.archcityhomes.com/2010/03/housing-market-trends-presentation/">housing market and economic trends</a>.</p>
<p><img class="ngg-singlepic ngg-left alignleft" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/family-reunion-2010-web.jpg" alt="Keller Williams Family Reunion 2010" width="150" height="150" /><strong>Gary also spent time discussing the results of the National Association of Realtors (NAR) 2009 buyer/seller survey. </strong></p>
<p>I&#8217;ve read the entire NAR report, and Gary did a great job of pulling out the most important information.</p>
<p>The slide show presentation<em> (click on the picture below to see the slide show)</em> helps you understand what motivates home buyers and sellers. The information is useful not only for real estate agents who make a living selling homes, but also for home sellers who need make sure the marketing of their home reaches as many buyers as possible.</p>
<p><a title="Keller Williams Vision Speech - NAR Home Buyer &amp; Seller survey results" href="https://www.sugarsync.com/pf/D797925_090489_697711"><img class="ngg-singlepic ngg-center aligncenter" src="http://www.archcityhomes.com/wp-content/gallery/misc-blog-pictures/kw-vision-speech-2010-image.jpg" alt="2010 Keller Williams Vision Speech" width="475" height="266" /></a></p>
<h2>Highlights:</h2>
<h3>Home Buyers:</h3>
<ul>
<li>Over the last 10 years, almost half of the home buyers each year are first time buyers. The 2009 economy and incentives for first time buyers resulted in the highest percentage of 1st time buyers since 2001.</li>
<li>43% of buyers lived in their prior home for 5 years or less, but only 16% of them expected to live in their newly purchased home for 5 years or less.</li>
<li>The largest group of buyers start the home search process by looking on the internet for homes and information. The next largest group of buyers contacts a real estate agent to get started.</li>
<li>Home buyers are taking longer to select a home, with 2009 buyers averaging 12 weeks before they purchase.</li>
<li><strong><em>About 9 in 10 buyers are using the internet and a real estate agent to help them find a home.</em> </strong></li>
<li>3 in 4 buyer found the home they purchased through the internet or their real estate agent.</li>
<li><strong><em>Only 2% of buyers found their home from print advertising!</em></strong></li>
<li>The most important information to buyers when they look for homes on websites are pictures and detailed information about the house.</li>
<li>The majority of buyers are searching for homes on sites that either offer an MLS search or all of the home listings in an area (including Realtor.com, agent and brokerage websites with home searches). <em><strong>My takeaway:</strong> in order to attract buyers to their website, agents</em><em><strong> MUST</strong></em><em> have an MLS search which provides a display which makes it easy to see large pictures and has detailed home information in a format that is easy to use!</em></li>
<li>With 77% of buyers using an agent in their home sale, and another 10% buying through a foreclosure or trustee sale, there are only 1 in 10 buyers purchasing market rate homes and NOT using an agent.</li>
<li>46% of buyers say the most important thing they want from their agent is help finding the right home to purchase, and 29% primarily want help with negotiating price or terms of the sale.</li>
<li><em><strong>44% of buyers found their agent from a referral.</strong> </em>With social media becoming the new way of networking, it is going to be even more critical that agents master the skills of interacting online.</li>
<li>With almost half of buyers stating reputation, honesty and trustworthiness being the most important factors in choosing an agent, the inevitable online rating systems of real estate agents will have a huge impact on the industry.</li>
<li>The vast majority of home buyers would recommend or use their agent again. <em><strong>Agents need to keep in touch with their former clients!</strong></em></li>
</ul>
<h3>Home Sellers:</h3>
<ul>
<li>Though 88% of buyers said they would definitely or probably use their agent again, only 24% of sellers hired an agent they had used before. <em><strong>Let me repeat myself&#8230;agents need to keep in touch with their former clients!</strong></em></li>
<li>2/3 of buyers and sellers only talk to one agent about their home purchase/sale. <em><strong>Agents need to keep in touch, and then be the first one to respond when a possible client expresses any interest in buying or selling!</strong></em></li>
<li>Only 1 in 5 sellers think the most important thing their agent can help with is pricing the home competitively. Agents need to be selective in which homes they choose to list, or they may spend a lot of time working for free.</li>
<li>Just like home buyers, the most important factor to most sellers in choosing an agent is reputation, honesty and trustworthiness&#8230;<em>online reviews are inevitable!</em></li>
<li>The number of homes successfully selling by an owner without a listing agent (FSBO), has slightly dropped since 2001.</li>
<li>While the median<strong> </strong><em>Sale Price to List Price ratio</em> was 95%, about 1 in 4 sellers had to come down more than 10% in order to sell their home.</li>
<li>Buyer incentives don&#8217;t sell homes. Buyers purchase the home with the best features for the location with the BEST PRICE.</li>
</ul>
<p><strong><em>Check back for Part 3 of the Vision Speech presentation &#8211; Full Service vs. MLS only Discount Brokerages.</em></strong></p>
<p><a href="http://www.archcityhomes.com/2010/03/nar-2009-buyer-seller-survey/">What is Important to Home Buyers and Sellers?</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
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		<title>Selling Condos Just Got Harder</title>
		<link>http://www.archcityhomes.com/2010/02/selling-condos-just-got-harder/</link>
		<comments>http://www.archcityhomes.com/2010/02/selling-condos-just-got-harder/#comments</comments>
		<pubDate>Fri, 05 Feb 2010 22:05:14 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Homeowner Tips]]></category>
		<category><![CDATA[Sellers]]></category>
		<category><![CDATA[Condos & Villas]]></category>
		<category><![CDATA[Financing]]></category>
		<category><![CDATA[First Time Buyers]]></category>

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		<description><![CDATA[Getting a loan to purchase a condo has always been harder than getting a loan to purchase a home. Lenders want to know that they will get their money back if they must foreclose on the property at some point in the future. If they think there is a good chance that the value will [...]<p><a href="http://www.archcityhomes.com/2010/02/selling-condos-just-got-harder/">Selling Condos Just Got Harder</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<li><a href='http://www.archcityhomes.com/2010/03/flat-fee-vs-full-service-listings/' rel='bookmark' title='Permanent Link: Selling a Home ~ Discount Listings vs. Full Service Listings'>Selling a Home ~ Discount Listings vs. Full Service Listings</a></li>
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<p><strong>Getting a loan to purchase a condo has always been harder than getting a loan to purchase a home. </strong></p>
<p><strong><img class="ngg-singlepic ngg-left  alignleft" style="margin: 5px;" src="http://www.archcityhomes.com/wp-content/gallery/stock-photos/loan-application.jpg" alt="Mortgage loan application" width="142" height="191" /></strong>Lenders want to know that they will get their money back if they must foreclose on the property at some point in the future. If they think there is a good chance that the value will drop, then the lender is much less likely to agree to give out a loan.</p>
<p>While the value of single family homes is affected by general market conditions and how well the property is maintained, condos have an added element that affects their value.</p>
<p>Condominium communities are much more affected as a group by what is happening to the other units in the development. Large numbers of rental units tend to lower the value of a community, since landlords don&#8217;t invest as much in updating their units as owners who live in their condo, and vacated rental units put up for sale have much more wear and tear than owner occupied units.</p>
<h2>Conventional vs. FHA Loans:</h2>
<p>There are two basic categories of loans that the vast majority of buyers can obtain for their home or condo purchase.</p>
<ul>
<li><strong>Conventional Loans</strong> &#8211; Buyers who have good credit, low debt to income ratios and the funds to put down a 5-10% down payment can get a conventional loan. Conventional loans may have fixed or adjustable interest rates and can range from 10-40 years in length. Since conventional loan buyers are less likely to stop paying their loan than FHA buyers, they get better interest rates and don&#8217;t have to pay mortgage insurance once they have 20% in equity on the property.</li>
<li><strong>FHA Loans</strong> &#8211; Buyers who don&#8217;t meet the qualifications to get a conventional loan may qualify for a FHA loan. These loans have lower credit score minimums, require lower down payments and allow for higher debt to income ratios. Since these buyers have a higher risk for default, lenders charge a higher interest rate and buyers are required to pay mortgage insurance on the loan regardless of how much they are putting down. <em>(NOTE: Some buyers who do qualify for conventional loans will find it is a better deal for them to get a FHA loan, so you should check both options if you are planning on purchasing a property)</em></li>
</ul>
<h2>Condos and FHA Loans:</h2>
<p>Since condos often appeal to first time buyers who lack the funds for a big down payment, many condo buyers find that they can only qualify for a FHA loan.</p>
<p>In order for a buyer of a condo to get approved for a FHA loan, the complex must:</p>
<ul>
<li>be FHA approved</li>
<li>no more than 50% of the units can be rental units</li>
<li>have a certain % of units which do not have a FHA loan attached to the unit</li>
</ul>
<p>The condo association has no control over how many owners have FHA loans on their properties. However, condo associations can control if the complex has been approved and the number of rental units.</p>
<p>In the past, if a complex had not gone through the process to obtain FHA approval, then a lender could arrange for a spot approval for the unit being sold.</p>
<p><strong>As of February 1, 2010, FHA no longer offers spot approvals for condos.</strong></p>
<h3>How Does the Elimination of FHA Spot Approvals Affect Homeowners?</h3>
<p>Bottom line&#8230;if a condo complex has not been FHA approved, it means that no buyer can get a FHA loan to buy a condo in that community.</p>
<p>If you own a condo that is valued below $250,000, the vast majority of buyers are going to need to get an FHA loan to purchase, and that means that they won&#8217;t be able to buy your condo if you tried to sell.</p>
<h3>Fix the Problem Now Rather than Waiting until You want to Sell:</h3>
<p>If you live in a condo community, you need to know if your association has obtained approval. You can check the link here to see if your community is on the FHA list.</p>
<p style="padding-left: 30px;"><a title="Find out if your condo complex is FHA approved" href="https://entp.hud.gov/idapp/html/condlook.cfm">HUD Website &#8211; FHA Condo Approved List</a></p>
<p>You can also call your association trustee or management company and ask them if your complex is approved.</p>
<p>If the community is not approved, you need to insist that they apply to get approval unless your community clearly doesn&#8217;t meet the approval guidelines. The process may take 6-8 weeks to obtain approval, so don&#8217;t wait until you want to sell or you may find yourself with a contract that falls apart rather than closes.</p>
<p>It is also a good idea to know if you are close to the 50% rental rate. If you are, you may want to consider changing the community rules &amp; indentures to cap the percentage of rental units allowed in the community.</p>
<p><em><strong>Not planning on moving anytime soon&#8230;</strong></em>the value of your condo is affected by sales that happen now. If your neighbors have trouble selling because they can&#8217;t sell to a buyer who needs a FHA loan, then they will sell for less, and your condo&#8217;s value will drop.</p>
<p><strong>Protect your investment and get your complex approved regardless of whether you plan to stay or sell. </strong></p>
<p><a href="http://www.archcityhomes.com/2010/02/selling-condos-just-got-harder/">Selling Condos Just Got Harder</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
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		<title>New Arch City Homes Feature: Zoom-able Home Pictures</title>
		<link>http://www.archcityhomes.com/2009/12/marketing-homes-with-zoom-pictures/</link>
		<comments>http://www.archcityhomes.com/2009/12/marketing-homes-with-zoom-pictures/#comments</comments>
		<pubDate>Sun, 13 Dec 2009 07:28:49 +0000</pubDate>
		<dc:creator>Karen Goodman</dc:creator>
				<category><![CDATA[Everything Else]]></category>
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		<category><![CDATA[Kirkwood]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Photos]]></category>
		<category><![CDATA[Tech]]></category>
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		<description><![CDATA[Technology and the internet has completely changed how real estate listings are marketed and sold. Long gone are the days when buyers must go through a real estate agent in order to get information about homes for sale. Online listings and tax records, digital cameras, aerial mapping and sites like Zillow have changed the game. [...]<p><a href="http://www.archcityhomes.com/2009/12/marketing-homes-with-zoom-pictures/">New Arch City Homes Feature: Zoom-able Home Pictures</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>



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<p><img class="ngg-singlepic ngg-left alignleft" style="margin: 7px;" src="http://www.archcityhomes.com/wp-content/gallery/stock-photos/j0423031_0.jpg" alt="Search for St. Louis real estate on your laptop" width="200" height="200" />Technology and the internet has completely changed how real estate listings are marketed and sold.</p>
<p>Long gone are the days when buyers must go through a real estate agent in order to get information about homes for sale. Online listings and tax records, digital cameras, aerial mapping and sites like <a title="Zillow.com offers market trend data" href="http://www.zillow.com/">Zillow</a> have changed the game.</p>
<p>Technology has also leveled the playing field so that an agent doesn&#8217;t have to go with the company that places a full page color ad in the local newspaper every Sunday. Technology is available for every agent who is paying attention which will give them a cutting edge over the rest of the agents who wonder why the old methods don&#8217;t seem to be working anymore.</p>
<h2>It&#8217;s All About the Pictures:</h2>
<h2><img class="ngg-singlepic ngg-right alignright" src="http://www.archcityhomes.com/wp-content/gallery/stock-photos/camera.jpg" alt="camera.jpg" width="100" height="75" /></h2>
<p>Originally, the <a title="MARIS is the MLS provider for the St. Louis region" href="http://www.marisnet.com/">MLS system</a> was simply a way for agents to share all of the local listings and offer compensation to each other in order to find a buyer for each listing. The listings were published weekly in thick books that were available only to agents. The books were filled with real estate jargon and didn&#8217;t have any pictures.</p>
<p>Today, MLS listings are now online and available to the public through agent and broker websites and national sites like <a title="Realtor.com is the only national listing site with all active listings" href="http://www.realtor.com/">Realtor.com</a>. Digital cameras in the hands of agents mean that just about every listing now has at least a couple of pictures. The good ones have tons of pictures. The best listings had those pictures taken by a professional photographer.</p>
<h2>New Technology Tool Let&#8217;s You Zoom in to See More Detail:</h2>
<p>A few months ago I discovered a new tool which allows users to upload pictures and turn them into zoom-able images. I immediately tried it out on a picture that I took of <a title="Winslow's Home store in UCity MO" href="http://www.winslowshome.com/home.aspx">Winslow&#8217;s Home</a> in University City. Winslow&#8217;s is a general store and cafe that is a throw back to the past. It was a perfect choice to try out my new tool.</p>
<p><script src="http://widgets.clearspring.com/o/49ba8181fdb85afc/4b249260c32bec09/49ba8181fdb85afc/18e289f2/-cpid/3bd5e7e210337720/widget.js" type="text/javascript"></script> <strong>Give it a try. </strong> <em> </em> <em>Click on the icon on the top right corner of the image above. Place your cursor anywhere in the picture and just zoom in or drag the picture in any direction. Zoom around to see what is on the shelves and take a close look at the tin ceiling. Hit your ESC button when you are done to come back to this post. </em></p>
<h2>Zoom-able Pictures and Real Estate:</h2>
<p>I don&#8217;t think I need to explain the impact that a zoom-able picture would have for a buyer seriously considering a home.  Of course, pictures taken in low resolution can only be zoomed so much.  I recently discovered a new photographer and am thrilled with the pictures she took for my <a title="231 W. Monroe Ave #206 sold in 10 days!" href="http://www.archcityhomes.com/2009/11/231-w-monroe-206-kirkwood/">Kirkwood condo listing</a>. I have to believe that the fabulous pictures played a part in getting multiple competing offers and having it sold in only 10 days&#8230;in November!  <a title="Try out Closr.it for yourself" href="http://www.closr.it/"></a> <a title="Try out Closr.it for yourself" href="http://www.closr.it/">Closr.it</a> lets us take the pictures to the next level by letting buyers see the little details that normal online pictures just don&#8217;t display.   <script src="http://widgets.clearspring.com/o/49ba8181fdb85afc/4b2486d40acc0a7b/49ba8181fdb85afc/d8343fe8/-cpid/1e9122cf3feaed9/widget.js" type="text/javascript"></script></p>
<p><script src="http://widgets.clearspring.com/o/49ba8181fdb85afc/4b248c8139c8f4c1/49ba8181fdb85afc/2daecdbf/-cpid/4aa62e0ca84d6bc8/widget.js" type="text/javascript"></script> <script src="http://widgets.clearspring.com/o/49ba8181fdb85afc/4b248c97751c1882/49ba8181fdb85afc/41f8d1f8/-cpid/d3b7dd1796c31a06/widget.js" type="text/javascript"></script></p>
<p>Moving forward, you can expect to see some zoom-able pictures on each of my listings.</p>
<p>Someday, every online picture may be zoom-able. For now, these images can only be embedded on blogs.</p>
<p>It&#8217;s just one more reason that sellers should hire an agent who is using the latest technology to sell their home.</p>
<p><a href="http://www.archcityhomes.com/2009/12/marketing-homes-with-zoom-pictures/">New Arch City Homes Feature: Zoom-able Home Pictures</a> is a post from: <a href="http://www.archcityhomes.com">Arch City Homes</a></p>
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