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Negotiating Tips for Selling Your Loon Area Property

Friday, April 18th, 2014

     Okay, so you’ve decided to sell your Lincoln-Woodstock property…you need to ask yourself how much do you really know about negotiating a real estate sale?  The professionals at Loon Mountain Real Estate Company can help you to potentially keep thousands of dollars in your pocket at closing.  Let us share with you a few key tips which will make you a better negotiator:

1.  Negotiations start when you choose a real estate agent to represent you through the sales process.  You need to choose an agent who represents your interests, not their own.  That agent should be backed by a visible, well respected and results oriented company whose marketing plan is the strongest in the area.  Don’t choose just on personality, but effectiveness.

2. Ask for more than you would ideally like to get. Once you have a number in mind, aim a bit high (but not prohibitively high) from what you’d be comfortable settling on.  No brainer, maybe, but you’d be surprised how many sellers miss this opportunity.  Aiming high gives you the potential to maybe just get that number; it gives you some obvious wiggle room; and it creates the opportunity for a “win-win” negotiation which is critical for a successful closing. 

3. When pricing your property…the second step of the negotiation process after choosing a Loon Mountain Real Estate Company agent…work with your agent to consider not only what the most recent comparable properties have sold for, but also consider market conditions.  If the market is growing exponentially, determine what that annual growth percentage number is and when the last comparable home sold.  Multiply the comparable price by the growth rate, and multiply the result by the portion of the year since the comparable sold.  Then figure that growth into your asking price.   

4. As the offers start to come in, the best advice is to stay behind the frontlines in the negotiation.  You, as the seller should maintain an active role, but from behind the scenes.  By “appealing to a higher authority”, your agent can best negotiate on your behalf. 

5. If you receive an offer which you feel is well below your asking price, do not dismiss it automatically.  Although low, if the offer is still reasonable and has some merit, get a dialogue going.  If you get a conversation started and move on your asking price just a little bit, you’re telling that buyer that you’re willing to negotiate, but you’re not desperate. That little bit of movement will more often than not entice the buyer to try to work with you and counter with a more realistic offer.

6. Remember, the negotiation process is not personal.  In many instances the first offer from a buyer will be a lowball offer.  You can’t blame them for trying as they just want to make the best deal possible for themselves.  You too want to make the best deal possible for yourself, so don’t be insulted.  You need to decide if there is any merit to the offer, and respond to it based on its merits, nothing else.  The quickest way to short circuit a negotiation is to take things personally.

7. Keep the conversation moving as time is a key element of negotiation.  The longer the negotiation goes, the better chance you have of making a deal.  Be willing to make concessions as the result of the negotiation needs to be a “win-win” for a deal to happen.  Concessions don’t always have to be made on price…they can also be made on terms such as financing, timing, including personal property, etc. 

8. Don’t automatically offer to “split the difference”.  It’s tempting to just offer to split the difference between the offer and counter offer, but in most cases you will be leaving money on the table.  Never entertain any offer to split the difference early in a negotiation, but if the situation does ultimately arrive where it may make sense, never be the first to offer to split the difference, but encourage the buyer to be the one who suggests it.   

9. If you are willing to walk away from the deal, then you have the upper hand in the negotiation.  Just as the negotiation is not personal, it should also not be emotional.  Of course you will not be able to completely remove emotion from the process, but practicality, resolve, and reasonableness need to dictate the bottom line. 

     Now that you are an expert negotiator, contact an agent here at Loon Mountain Real Estate Company to assist you in putting your skills to work for you.  There is no doubt that we are currently in a Seller’s market here at Loon, a situation which has not occurred in many years.  If you have been thinking of selling, there is not better time than now.  We look forward to hearing from you and to being your Realtor!  

 

The Twelve Days of Loon Mountain Real Estate Christmas

Wednesday, December 4th, 2013

On the first day of Loon Mountain Real Estate Christmas, our company gives to you…1 of the strongest real estate years in a long time and reason to believe it will continue!

On the second day of Loon Mountain Real Estate Christmas, our company gives to you…2 many reasons for you not to list or buy in this improving market if the time is right for you!

On the third day of Loon Mountain Real Estate Christmas, our company gives to you…3 strongly performing condominium ownership options…wholly owned, quarter-share, and fractional.

On the fourth day of Loon Mountain Real Estate Christmas,  our company gives to you…4 percent mortgage interest rates, and lower, through our lender referral network.

 On the fifth day of Loon Mountain Real Estate Christmas, our company gives to you…5 bad real estate years to forget!

 On the sixth day of Loon Mountain Real Estate Christmas, our company gives to you…6 in-house listings featured on Loon TV Channel 22, updated seasonally, along with general Loon Mountain Real Estate Company spots.

 On the seventh day of Loon Mountain Real Estate Christmas,  our company gives to you…7 days per week that Loon Mountain Real Estate Company is open to service buyers and sellers.

 On the eighth day of Loon Mountain Real Estate Christmas, our industry gives to you…8+ hours per day that our agents are based out of our new office location next to the Octagon Lodge at the base of Loon.

 On the ninth day of Loon Mountain Real Estate Christmas, our company gives to you…9 full pages of listings in our 16 page Loon Area Real Estate Guide, 1250 copies of which are distributed annually.

 On the tenth day of Loon Mountain Real Estate Christmas, our company gives to you…10+ display locations directly on Loon Mountain where your listings are displayed for targeted buyers.

On the eleventh day of Loon Mountain Real Estate Christmas, our company gives to you…11 buying and selling tips included in our Loon Area Real Estate Guide, featuring properties throughout the Lincoln-Woodstock community.

 On the twelfth day of Loon Mountain Real Estate Christmas, our company gives to you…12 more strong real estate months in 2014 to be optimistic about!!

Merry Christmas, Happy New Year, and Happy Holidays from all of us here at Loon Mountain Real Estate Company!

Loon Mountain Real Estate Company-Be Aware

Friday, August 16th, 2013

     It has now been just about two years since Loon Mountain Real Estate Company embarked on an aggressive marketing campaign, including a specific concentration on awareness marketing in the Lincoln-Woodstock area. Held to the belief that brand recognition is extremely important in today’s fast paced, immediate gratification driven, and highly technological real estate marketplace, a strong commitment to creating awareness about one’s brand is critical. Working in partnership with Loon Mountain Recreation Corporation and Polimeno Realty, the parent company of Loon Mountain Real Estate Company, we are now starting to see very positive results from this long term commitment. Relationships with the Lincoln-Woodstock Chamber of Commerce; Highland Games; Town of Woodstock 250th Celebration; Lincoln-Woodstock Senior Services; Lincoln-Woodstock Rotary Club; White Mountain Attractions; Littleton Courier; Mountainside Guide; Valley Fun; Loon Channel 22; North Country Center for the Arts; and the creation of the Loon Area Real Estate Guide have all played a huge part in increasing the public’s awareness of and resulting in the acceptance of Loon Mountain Real Estate Company as the preeminent real estate company in the Loon Valley.  Our company has the most expansive and extensive marketing plan of any real estate company in the area…and our sales results confirm it.  Commission revenues to date in 2013 as compared to 2012 are up by over 29%,  which is even more impressive given that 2012’s performance was positive to 2011 by over 20%!  Sellers and buyers are now aware that their real estate needs can best be handled through Loon Mountain Real Estate Company.

     To create strong brand awareness, it is necessary to maximize the visibility of logos, taglines, and corporate identifiers ; create and participate in networking opportunities for personnel; support local organizations financially and through volunteerism; and of utmost importance, be a good neighbor.  This is especially important in a small, rural community where corporate and personal identities often merge and become indistinquishable from each other.  As brand awareness of Loon Mountain Real Estate has strengthened, pressure for the entire staff to live the brand both professionally and personally has intensified exponentially.  The result is a consistently positive experience for the sellers, buyers, seasonal rental owners, and tenants for whom Loon Mountain Real Estate Company works.  We answer to you…always!

Jay, Donna, Amy, Paul, and Kathy

Real Estate: Buyer’s Market to Seller’s Market…Are We There Yet?

Saturday, May 4th, 2013

It’s hard to ignore the fact that the real estate market in the Loon area is changing.  What are the indications?  The amount of quality inventory in the Lincoln-Woodstock area is declining as realistically priced properties are selling, and staying on the market for shorter periods of time.  Some properties are starting to sell at or above asking price as it is no longer unusual to receive multiple offers for quality properties.  Land listings which have been on the market for well over a year are starting to sell, as buyers are looking to build their own home once again.  Demand for larger land parcels is also increasing as developers are looking to get back into the market.  Our builder partners are reporting that requests for new construction are starting to filter into their offices at a greater pace than the remodeling requests which they have been living off of the last few years.  First time homeowners are back in the hunt for affordable properties, unfortunately for them often competing with investors who are also back in the market, looking to scoop up more low end and distressed properties with the intent to flip them. Lastly, interest rates are still at all time lows and optimistic thinkers believe that lending requirements which have frankly been overly restrictive, may actually be loosening up.

What does all this positive, confidence driven activity mean for real estate buyers and sellers currently active in the market?  Inventory will become more scarce, with fewer options for buyers.  Prices will start to climb as demand increases and supply decreases.  And if interest rates remain low and mortgage restrictions loosen up to become more realistic, both of the above factors will be further exacerbated!  That folks, will result in a Seller’s market for the first time in quite a few years.  And here in the White Mountains of New Hampshire, timing could not be better as we enter the peak real estate selling season!

Whether you are looking to buy or sell real estate, your best resource is Loon Mountain Real Estate Company, the premier and completely diversified, independent, and uniquely full service Loon Area professional real estate company.  Contact us today to find out how we can help you achieve your real estate dreams!

Addressing Unsold Loon Area Property in an Improving Market

Monday, January 21st, 2013

      The Loon area real estate market has finally started to gain some traction. The fourth quarter of 2012 and the start of the first quarter of 2013 have shown marked increases in property sales here in the Lincoln-Woodstock community, both in the residential and vacation home sectors. Inventory numbers are still strong, but the inventory itself is not necessarily strong as determined by a quality to value ratio. If you have had your property on the market for a while with no substantial activity, maybe the following market reality “points to ponder” may help you to get the offer that you’ve been waiting for:

Is your property priced appropriately to market conditions?

     You’ve chosen a real estate professional you can trust to best market your property, so trust them! They are your best resource to help you understand the realities of the market, and where your property fits in to those realities. A trustworthy broker will give you an honest opinion of value, based on extensive research into the strongest comparable sales within the market area. This value will be based on reality, not emotion or the balance of your mortgage. Remember, emotion and debt obligations can be the greatest obstacles to determining a realistic price for your property. Review your pricing strategy to make sure that your listing price is market driven…period.

Is your property presentable?

     Look at your property through the eyes of a potential buyer.  A vacation home is best presented, and subsequently more sellable, if it is furnished, well-maintained, and in turn-key condition. Most buyers like to think that they can take possession the property the day of the closing and begin enjoying it immediately.  Any personal modifications can be done over time, while the property is being enjoyed.  Sellers may be hesitant to spend money on a property that they are looking to sell, but if that expense becomes an investment which gets the property sold sooner, then it is worth it.  A seller does not want to turn potential buyers away because of cosmetic issues, but this will happen in a buyer’s market, which is what we are dealing with today.  Ultimately, a seller will pay one way or the other…either up front in modifications, or at the negotiating table with a potential buyer.   Also, a seller may need to address the issues before the closing anyway, so having the property presentable will attract more potential buyers initially and is really the best way to market your property. 

Should you offer incentives?

     If your property is priced appropriately, is as presentable as it can be, and is still not garnering serious interest from prospective buyers, then you may need to consider offering incentives.  Buyer incentives could be an offer to pay buyer closing costs; outstanding association assessments or annual dues;  or something specific to the seller that may be of interest to potential buyers.  Broker and agent incentives could be a commision increase; a bonus to a buyer broker; or something specific to the seller that may motivate a broker or agent.  Consult with your real estate agent to see what incentives may work best given your specific property and market.  

     Loon Mountain Real Estate Company is the best positioned and experienced Loon area real estate company to help you to bring your property from a listing to a sale, successfully, as quickly as possible, and at an acceptable price!  The gap between what sellers want for their properties and what buyers are willing to pay is narrowing, which flattens out the supply and demand curve, positively impacting the real estate market.  That being said, it is still imperative to price your property appropriately and present it as positively as possible to maximize its sale potential.  Loon Mountain Real Estate Company is here to serve you!

A Real Estate Christmas Gift for the Loon Area

Friday, December 21st, 2012

     Loon Mountain Real Estate Company, Polimeno Realty, and Loon Mountain Recreation Corp. would like to wish you all a Merry Christmas and Happy New Year!  Our gift to you this year has been long overdue in the Lincoln-Woodstock and Loon area…a Loon Area Real Estate Guide

     The decision to publish this guide was driven by the endless requests from visitors to the area stopping into real estate offices asking for an area real estate guide, which has not been consistently available.  Although some publishing and newspaper companies have taken a stab at creating such a beast, the results have usually been incomplete and inconsistent.  We will be publishing up to 5000 guides each quarter…winter, spring, summer, and fall…and will be distributing them throughout the Lincoln-Woodstock community.

     What can you expect to find in the Loon Area Real Estate Guide?

     -Over 80 Loon area listings categorized by town (Lincoln or Woodstock); category (condominium, residential, land, multi-family, and commercial), and location designation within each respective community

     -An area map where every resort and significant development in the Lincoln-Woodstock area is identified by location, with a navigational key corresponding to the map and also to the designation included for each listing

    -Real estate buying and selling tips to hopefully assist in simplifying the real estate transaction process

     -A resource guide identifying reputable real estate related partners in fields including property management, appraisals, financing, housekeeping, settlement services, contracting, and others.

     Loon Real Estate Company, Polimeno Realty, and Loon Mountain Recreation Corp. are proud to be able to offer this useful tool to the community and to the area’s visitors.  We would also like to thank the majority of real estate partners in the Loon Valley who have authorized us to include their listings in the guide in order to be able to offer a more diverse and all inclusive list of available properties.  We appreciate the professionalism that most of our peers have exhibited, understanding that inclusion in a publication such as this is a benefit to their sellers, but also to them as real estate professionals…all at no cost to them. 

     We hope you enjoy this winter’s edition of the Loon Area Real Estate Guide, our Christmas present to all of you and to our community.  For the gift that keeps on giving, in celebration of the new year of 2013, we ask you to keep your eyes peeled for the next three seasonal issues to be published later this year. 

     From all of us to all of you…Merry Christmas and Happy New Year! 

 

Happy New Year…For The Real Estate Market?

Tuesday, January 10th, 2012

     As New Hampshire hosts its first in the nation Presidential Primary this month, we are all reminded that every four years presidential elections bring with them optimism, regardless of your party affiliation. The real estate market is hoping to ride that wave as it has been a lack of optimism which has shackled the real estate industry in the last few years. There is no doubt that we are starting to see a rise in consumer confidence as unemployment rates are continuing to trend downward; mortgage interest rates are remaining at near record lows; the amount of home sales nationally has increased 11% over the last year; and home prices have declined 4%.  These national trends have positively impacted the Consumer Confidence Index which rose 17% from November to December 2011 with every indication that the trend will continue into 2012.  The time has come for the real estate tide to rise, and with it the rest of the nation’s economy.  If that’s not a reason to be optimistic, I don’t know what is!

Here at Loon Mountain Real Estate Company, we have been impacted directly by this spike in consumer confidence with an increase in the amount of inquiries we’ve been receiving, offers we’ve been writing, and sales we’ve been closing.  Loon Mountain Real Estate Company increased it’s market share in the Lincoln-Woodstock area substantially over the last quarter of 2011 and expects to continue this trend into 2012. With an increased “on-mountain” presence; including newly created Loon TV advertisements running daily; shuttle bus signage; and dining area table tent promotions; Loon Mountain Real Estate Company is sending the message that it is the best located and most experienced real estate company to handle Loon area property. Complementing our “on-mountain” presence is our commitment to advertising and promotion in the Lincoln-Woodstock community. You will find our display ads at the Lincoln Cinema and White Mountain Attractions building, as well as flyer distribution in local restaurants and visitor centers, supported by our large display ads in the Littleton Courier and Valley Fun newspapers. 

Loon Mountain Real Estate Company is investing in optimism as we finally see the signs of a real estate and economic recovery. We hope that you will choose to invest along with us here in the Loon area. Happy New Year…to you and to the real estate market!

Buyers and Sellers Aware…Now Is The Time To Buy Loon Area Real Estate

Tuesday, December 20th, 2011

As a potential buyer or seller of Loon Area Real Estate, there are a few key reasons why the time has never been better to own a piece of paradise here in the Lincoln-Woodstock New Hampshire area.
1. Cash is King! The days are gone when we all believed that a cash deal was not much different than a financed deal since it was all cash to the seller at closing. In today’s market, a cash buyer has more leverage than ever before! Many sellers are more inclined to negotiate more aggressively when they know that a cash deal is more likely to close sooner and with fewer obstacles than a deal involving financing. For a buyer, given the fluctuations in the financial markets, the time has never been better to consider diversifying your portfolio with real estate investments which could also serve as an investment in quality family getaway time!
2. The Real Estate Value Gap is Narrowing. The gap between the price that a seller wants for his property and the price that a buyer is willing to pay for a property is finally narrowing! The result is that more deals are happening as both sellers and buyers are becoming more realistic in their expectations. This is a normal real estate market adjustment, which we all knew was inevitable, but one which is resulting in more real estate activity here in the Loon area.  To learn more about how to narrow this value gap, tips for buyers and sellers are available from our brokers.
3. Ski Season Is Upon Us. As thousands of skiers and winter outdoor enthusiasts descend upon the Lincoln-Woodstock and Loon Mountain areas, thoughts of owning a piece of this winter wonderland arrive with them. If you’re thinking of selling, winter is a great time to have your property on the market as your potential buyers are here in the area thinking about the same thing you thought about when you purchased your property here at Loon.

Merry Christmas and Happy Holidays from all of us here at Loon Mountain Real Estate Company! You know where to find us!!