determine asking price: What does the term "PRICE REDUCED" really mean? - 10/26/08 04:47 PM
Recently, I have been so fortunate to work with buyers who have termed themselves bargain hunters.  They are scouring the MLS for deals, hoping to find the same discounts they've heard of in California, Las Vegas, and Florida.  Any listing or advertisement that has the words "PRICE REDUCED" or something similar, they're feverishly investigating.  However, that's not the best way to find a deal.  In fact, a huge price reduction may result in a home still being significantly over priced.  
The words "PRICE REDUCED" only means that the seller and their agent over priced the home to begin with.  They … (1 comments)

determine asking price: Overpricing Listings Is Real Estate Malpractice - 05/29/08 06:46 AM
Last week, I received an offer for a home that I had listed earlier in the week in Charlotte North Carolina.  The offer was acceptable to the seller and so pending a good inspection, we should have a rather quick closing which makes my clients very happy.  This home wasn't the cheapest home on the market or the only one for sale in the neighborhood.  Buyers wanted this house because it looked good, was in the right location, and was priced right.
All too often, I see where sellers and agents alike use what I term as a SWAG price (slightly wild a$$ … (6 comments)

determine asking price: So what price should you offer for that house? - 04/10/08 03:55 AM
In today's ever changing housing market, price is the number one sticking point with buyers and sellers.  Buyers always want the lowest price they can get that they deem fair and sellers often want the highest...but not always.  Usually, this meant an offer came in 5 - 10k below asking price and both buyer and seller agreed to a price mutually acceptable.  However today, some buyers and their agents are making offer 10 - 20% below asking price on every home, regardless of seller motivation, and insulted when their offer is not accepted.  There are a few good rules of thumb to go by when determining your offer:
Recent sales in the … (0 comments)