THIS ISSUE: Setting Deadlines / Low Mortgage Rates! ARCHIVES: www.privatelist.com/newsletter.htm As a private seller, you need to remain proactive, consciously pursuing your objective, rather than simply waiting and hoping for events to unfold as you wish. One of the most effective ways to remain in the driver’s seat is to set yourself definite deadlines by which time specific tasks must be done or changes made. Whether the goal is holding a garage sale, repainting or recarpeting a bedroom, holding an open house, scheduling classified advertising or dropping your asking-price, the point is that by making your objectives specific and measureable, you avoid passivity and remain focused. Why not take some time in the the next day or so to review exactly WHY you’re selling and WHEN you want to hand over possession, then establish a series of dates by which you’ll definitely MAKE CHANGES if you’re not getting the results you need. Review related PrivateList resources like get out your calendar, and start setting goals!Better yet, download NoteWhen, a FREE utility from the people who publish computer-oriented PC Magazine. This handly little program (584 KB) allows you to cause electronic sticky notes to automatically pop up on your computer screen as reminders of important tasks, anniversaries, etc. — with a font, size, background color, and even audio alert of your choice. You can schedule one-time or recurring events, and review a built-in calendar for all the tasks on any given day. (If you’re unsure of how to download and install the program, be assured it’s not at all difficult. Check out PC Magazine’s download instructions, or get a friend to walk you through the process.) No matter what, find a way to SET YOURSELF DEADLINES. And while you’re at it, why not circle the anniversary of your PrivateList display - as a (hopefully belated) reminder to let me know that your property has SOLD! Homesellers contemplating withdrawing from the market over the winter, or postponing their marketing until next spring, should think again. Even in normal years, real estate activity can remain substantial until just before Christmas and pick up quite early in the new year. And this year, low mortgage rates may keep buyers active through the winter. If you’d simply like a little peace and quiet over the holiday season, just call 1-888-747-4054 and we can deactivate your display for a period of your choosing. But don’t lose valuable exposure simply on the assumption that market activity will fall with outside temperatures! Historically-low interest rates are also good news if you will be renegotiating an existing mortgage or taking on a new one — as part of your move, to upgrade your current property, or even to pay off high-interest credit-card debt. But avoid the temptation to see low rates as an easy way to cut your monthly payments and spend the money elsewhere! Instead, use low rates to pay off your new or renewed mortgage sooner. Suppose, for example, that you've been paying $763/month on a $100,000 loan, calculated over 25 years, taken out in 1996 at an interest rate of 8%. Now, with 20 years left, its time to renew the mortgage, the remaining principal is around $92,000 and rates have dropped to 5.5%. You could keep your amortization at 20 years (240 months) and let the lower interest rate reduce your monthly payments to $633. OR you could keep your payments at $766 and retire the loan in 176 months - ie., 64 months earlier! Guess which option saves you $17,600 in interest charges! (Use this nifty loan calculator from Alberta's credit unions to work out comparisons for your own situation.) FRIENDLY REMINDERS . . . Are the thousands of dollars you'll save by selling privately worth, say, an hour each week-end, spent reviewing your progress to date and mapping out your continuing campaign? It's important to maintain an active marketing focus until your property is sold. Therefore, each e-mail version of this newsletter links to a series of reminders, tips and tools that lead to a sale! To access these resources, press here.
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