We have a short sale listing which has been on the market for quite awhile. While the Tulsa real estate market is a good one, sometimes homes take longer to sell. The reasons can be many. With a Realtor® on your side, should you find yourself as a Tulsa home seller in a situation where your property hasn’t sold as quickly as you imagined, you have a good chance at finding out why and how best to adjust and find a solution.
For our listing at 6718 S. Atlanta Ave., one of my team members, Stan, had some updated information which has shed light on why this home hasn’t yet sold. The appraisal given for this property appears to be out-of-line with specific features applicable to the home. This property was appraised at $240,000 yet has not sold at the list price of $200,000.
If an appraisal is supposed to reflect what the market value is, and what Tulsa homebuyers are likely willing to pay, how could a significantly higher appraisal be accurate? Chances are it’s not. This isn’t to say the appraiser did a poor job, but rather to point out the specific aspects of this property were likely not taken into consideration when comparing other nearby properties.
$240,000 is a solid value for homes in the general area, about 2 blocks away from where the listing is, which happens to also have an apartment complex behind it and other neighborhood aspects which would call for a lower appraisal. Now my job as the listing agent is to review with the seller, and a buyer whom has made an offer, to ensure we come up with an equitable sale price all parties can agree upon.
When you’re ready to buy or sell your home you want to have an agent who is a good match for you. This can be a challenge to determine, and why I encourage everyone looking at residential real estate in Tulsa, Broken Arrow, Sand Springs, or any other part of the region, and across the nation, to check out the 20 Questions I have compiled which can help you start the conversation with potential agents.
One question to ask is whether an agent has a personal staff and how many of them are licensed themselves. If you work with an agent who has a support team, where more than one person is able to take care of different aspects of a real estate transaction, you will have that whole team working for you. This will help keep the process efficient, and you won’t be faced with a one-man show where your agent may not be able to help you when you need it, or get tasks done in a timely manner. Stan and his in-depth review of our short-sale listing was integral in my being able to provide insight and options to my client. We are a team and help support each other as much as our clients.
You may not know all the questions to ask, but with this guide you will have an in-depth resource to assist you through the hiring process. Download my FREE home seller and home buyer report, “20 Questions You Absolutely Must Ask Your Next Agent Before You Sign on the Dotted Line for a complete list of questions to ask your real estate agent before listing your home for sale.
940 E. College St. Very affordable condo ideal for convenient living. $68,000. 2-bedroom, 1.5-baths, 2 level unit in Broken Arrow, close to downtown, recreation center across the street. Great for active lifestyle.
2748 E. Admiral Blvd. Reduced Price $109,500. 4-bedroom, 2-bath. Value-priced property.
For a complete list of active listings, visit homeguidetulsa.com
For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.