Wednesday, October 8, 2008
Tuesday, October 7, 2008
Wednesday, September 24, 2008
Wednesday, May 14, 2008
THE PRICE IS RIGHT
Hello all, Ok I am going to pose a question. How to sell a home in a down market? Now granted this is an isolated incident but, one I feel I will repeat often. I just had a nice little townhome listed. After speaking with the owner we agreed he did not want to sit on it. After pulling the comps we came up with a price that was 3% below market value. Then we added some incentives of some closing costs and a home warranty. Now we are sitting back and watching the excitement. Face it folks we know it is a buyers market right now. So we know there are buyers out there. We have had six different buyers come through. We have two more appointments on the books and one offer already on the table. I have been told there are more coming. So let's look at the results of The Price is Right. Of course one thing is nice I used a professional photographer for the the pic's. The result were excellent shots with a wide angle lens and yes the rooms looked larger, but in the case of one buyer they commented on the size of pictures in relation to the actual rooms. Guess what they are also considering putting in an offer also. So it worked we got them in the door.
Monday, March 24, 2008
Aggressive Selling
I have been approached by some clients recently about selling their homes in a "Buyers Market". The one thing that we have come to find is that if your motivation to sell your present home is their then the home will be priced right to begin with. What I see the most is homes that are overpriced and just sit on the market. These homeowners were advised by their brokers of what the present market value was on their home. Now the important part: if you really want to sell that home price your home 1 to 2% under the market value. With some basic math you can see that if you are trying to sell a home that you have already moved out of and the carrying costs (mortgage, utilities, and taxes) far outweigh the 1 to 2% price difference! Not to mention that if you have had your home on the market for over ninty days then now it is "shop worn". In other words agents and clients are use to seeing it and ignore the listing or think you are desperate if they see a "price change" and then you will get low ball offers and no seriously good offers. Every piece of property I have sold I have priced at just below market value and been rewarded with the "quick sale" of all of them. Be realistic or be prepared to hold onto the property for a longer then neccasary time.
Subscribe to:
Posts (Atom)
