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Blog entries tagged with "overpricing":
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Everyone wants to get as much for their home as possible when putting it up for sale. Often I hear Sellers say they "Want To Try It Out At X Price" or "We Need Room to Negotiate". Both of these thoughts can cost a Seller thousands of dollars in wasted time … (4 comments)
This afternoon the Real Estate Board of Greater Vancouver issued a press release entitled:
Recently, I have been working with couple who after two years and many price reductions finally sold their home in MA to move to Florida.
Talking to other agents around the office and working on deals you have opportunity to share experiences. Not only is it interesting but I usually learn something that I didn't know, or a bit of additional info is gleened that can be added to a subject that I recently learned about.
The Dangers of Overpricing 
I was chatting on City-Data recently about the Concept of "chasing the market", and what it means and how to avoid it. Someone made the comment about it being an "emotional result" of unhappiness with the market, and I think it brings up an interesting concept about how and … (7 comments)
The following chart demonstrates what happens in real estate markets when homes begin their time on the market priced above what the market itself indicates is fair market value.
Overpricing your Colts Neck real estate? Expect a slow train of buyers a-coming. Today I'm going to present the concept of Continuous Days on Market (CDOM). First, there are some fairly recognized truths in real estate and home buying:
The most important decision to set the initial listing price of a home. Sellers want to get as much for their home as buyers are willing to pay. However, when determining the price, don't make the mistake of overpricing. It could prove costly, it could slow down the sale, and/or make other … (2 comments)
Pricing Your Home...
Ok so what did I learn. I took the listing at a price that was too high, because if I didn't someone else would have. While I gave the clients the right advice, I wasn't forceful enough about it. By not turning them down I did them a disservice. They … (4 comments)
As we are doing our homework on the Coeur d'Alene real estate market, we came across a listing that has been on the market for... are you ready for this?... 1240+ DAYS! WOW! I'm here to tell you, I get impatient after 4 months, I can't even imagine 4 YEARS!
Every month there are reported sales of 1000 houses sold through MLS in the Orlando, Kissimmee & St. Cloud areas. With over 25,000 homes listed one might ask what makes one house sell faster than another. Or for those sellers who are more astute, how do I get to become one … (3 comments)
As most of you know, we are now in a "buyers market". That means there are more sellers and homes for sale than there are buyers to purchase them. For this reason, buyers can be choosy and do not have to settle for the first home they see.
There are several things that listing agents can do wrong, however in this market it can mean financial suicide for not only the agent, but could be a disaster for the sellers.
I have turned down more listings in the past few months than I have turned down in my entire 18 years in the real estate business. Overpriced under motivated over extended sellers cost time and money. Yes, but here is the rub, sellers in my market area actually believe the hype brought on by … (41 comments)
Later, when you drop your price, your house is "old news." You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your house could take longer to sell.
"I don't want be a jerk, but, NO, I don't wanna TRY, I wanna SELL" is what I told a potential seller this morning.
1. MINIMIZES OFFERS
Most sellers are not real estate experts and rely on professional advice when it comes to selling their home. Some decide to forego the professional advice and sell privately. Which ever way it happens, some homes end up on the market priced above the market value and overpricing real estate is … (12 comments)
Sellers Tips on OverPricing 
What use to be considered overpricing a home is now the correct price, but in a slowing market. Can the real estate agent determine the approximate selling price in a downturn? It is definitely more difficult even with all the data that is accessible. There is decreased demand even with correct … (1 comments)
Every street you drive down, seems to have several "For Sale" signs in front yards. These are often the same signs day after day - week after week - and month after month. What is happening that has brought the selling frenzy to a stand still?
I regularly receive phone calls from people that have been fishing and have decided the fish aren't biting with their bait or they want to go fishing with my bait.