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Using third-party AVMs to price your listings

Tips for arriving at a realistic value

Let's face it, home sellers are often skeptical about prices, market conditions or the necessity to stage a property to get it sold. While they may not be willing to believe you, many younger clients are willing to believe the information they see online. Recently I was speaking to a young woman whose family was facing foreclosure for failure to pay their condominium association fees. They had two severely disabled kids. Even though they had medical insurance, the bills had overwhelmed them. They were under the mistaken impression that if they continued to keep up their mortgage payments they could keep their home. Sadly, the homeowners association was enforcing its right to foreclose. The question is whether they could stay in their home possibly through a loan modification? The family's existing loan was at Chase with the initial loan amount being $290,000. The family had paid the loan down to $275,000. The question was whether Chase would agree to take a principal reduction un...