6 Reasons to Reduce Your Home Price


Home not selling?  That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage.  There is one factor you can control:  your home price.

These six signs may be telling you it’s time to lower your price.

1.  You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it.  If your real estate agent reports there have been fewer buyers calling about and asking to tour your home, that may be a sign that buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2.  You’re drawing lookers but have no offers

If you’ve had, say 30 sets of potential buyers come through your home and not a single offer, something is off.  What are the other agents telling your agent about your home?  An overly high price may be discouraging buyers from making an offer.

3.  Your home’s been on the  market longer that similar homes.

At least consider lowering your asking price…

4.  You have a deadline

Remember, it’s not how much money YOU need that determines the sales price of your home, it’s how much money a buyer is willing to spend.

5.  You can’t make upgrades

When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6.  The competition has changed.

If weeks go by with no offers, continue to check out the competition.  What have comparable homes sold for and what’s still on the market?  What new listings have been added since you listed your home for sale?  If comparable home sales or new listings show your price is too steep, consider a price reduction.

Thinking of selling?

List with Advantage

I’m often asked…”How is the real estate market?”  We’ve had the most productive fall & winter ever!  We’ve helped sell so many homes that the inventory of property for sale in Central Missouri is at an all time low.  We need more houses to sell!  This is where you can help!  Call your favorite Realtor at Advantage Real Estate and say, “Let’s put my house on the market!”  At Advantage Real Estate we’re selling Central Missouri one yard at a time…


One thing we do that’s different from other agencies is that when you list with Advantage, we’ll put in writing, that if you’re not satisfied with our service, you’re free to try elsewhere.  And I’m proud to say that in almost two decades, that rarely happens.

What do I do with partial gallons of used paint?


Did you know that Moberly has a place to take your partially used gallons (and other sizes too) of paint?  The City of Moberly offers a free service to area residents to dispose of their hazardous materials (like oil based paint, latex paint, outdoor chemicals, etc.).  The household hazardous waste facility is located next door to the dog pound.

Where is that, you may ask?    Well, if you’ve traveled the outer road between Hwy EE and Hwy 24 (parallel to Hwy 63), you’ll see the two buildings in the bottom ground near the bridge closer to Hwy EE.  Both of these buildings have a green metal roof.   You can drive your vehicle there by coming off Hwy EE to the entrance of the cemetery across from Cater Funeral Home parking lot.  Just follow the road along, till you see a directional sign pointing you to the right.  Here’s a picture to show you’re on the right track…it’s the view from above of the two buildings you are approching.

approching the paint recycling center

Drive to the bottom of the hill, and this is the building you’ll need to go to.  It’s open on the second Saturday of the month from 8 to noon.

paint recycling

The City of Moberly will accept your extra unused paint, which is helpful when you are selling your home or simply cleaning out the garage.  Best of all, they color coordinate their donations and are able to provide free paint if you need some.  This has been helpful to many people on a budget, also it helps keep our landfill free of this material!  Call the City of Moberly 660-263-4420 and ask for Geri if you need to arrange a specific time to donate that’s not the second Saturday of the month!

3 Downpayment Tips for Homebuyers

Tips for downpayment

I still meet buyers who are wavering as to how to finance their home!  The good news is that there are plenty of low down payment mortgage options that potential homeowners may consider, but deciding which of these options best fit their financial needs can be a bit more difficult. With a continuously recovering real estate market, even more of these options are becoming widely available.

Here are just a few of the current financing options available:

0% down – VA and USDA Rural Development Loans

3.5% down – FHA Loans

3% & 5% down – Conventional

Financing options like the ones mentioned above may be appealing to you as a prospective buyer, because it will allow you to afford a larger home without putting as much down up front. Unfortunately, these options can be more expensive in the long run and it’s important for you to understand so you can know what to expect in the years to come.

1. Higher Interest Rates – It’s important to realize that the mortgage industry follows a risk-based pricing system. This means that as the risk for the lender increases, the rates and fees your loan will also increase. A low down payment is a high risk for lenders, which is why FHA, VA and USDA loans apply either an upfront funding fee and/or mortgage insurance. Fannie Mae and Freddie Mac, who back up all conforming loans, will generally charge your clients a higher interest rate and/or fees when they have less than a twentypercent down payment. Depending on their credit score and other factors, rates can vary from .125% to .25% higher for a prospective buyer putting down ten percent instead of twenty-five percent.

2. Private Mortgage Insurance (PMI) – If you decide to pursue a conforming loan and plan to make a down payment of less than twenty percent, understand that  private mortgage insurance comes along with it. Depending on your loan amount and credit score, you can expect to end up paying a monthly insurance fee on top of your principal and interest payment. The good news is that once a homeowner has built up enough equity to where the loan balance is eighty percent of their original purchasing price, they can finally get rid of the mortgage insurance, because it’s not as high risk for the lender.  (Except for FHA loans, which does not fall off after 80%.)

In the case of our rural community of Moberly, MO, with inventory being low and demand high, you may encounter a multiple offer situation.  Sellers may tend to stay away from potential buyers with low down payments, as someone with a higher down payment will usually have their loan approved faster by a lender.

Understand that having a twenty percent down payment is a definite financing advantage, but it isn’t a deal breaker, and these are tips just to be aware of when considering purchasing a home.  Other tips are to check with a lender before you start looking to get pre-approved for your mortgage.  Your lender will have you fill out an application (almost as much fun as doing your tax return), bring in two years’ W-2’s, bank statements, and paycheck stubs.

Another good tip: find you an experienced, full time Realtor to help guide you through the process.  At Advantage Real Estate, we pride ourselves in helping make the process as smooth as possible!  Happy house shopping!