Do NOT Raise the Price on Your Palm Beach Gardens Real Estate!

Industry Observer

Now that the word is spreading that the worst of the housing crisis is over, some homeowners are starting to do some incredibly stupid things.

(BTW, if you're offended by that you should take a very close look at what you are currently doing.) 

The BIG question is "Do you REALLY want to sell it, or do you want it to sit on the market for a looooooooong time while the houses around it DO sell"?

Believe it or not, some people are starting to RAISE the prices on their homes!  Folks, please, get a grip.  If your home has not sold in a reasonable amount of time you should lower the price NOT increase it!


I've seen several owners in the area do this - but what really caught my eye was a listing in one of the local golf / country clubs that had been wallowing on the market for a long time.

All figures will be approximate as to not insult the people who should, well, really be insulted!  But keep in mind that I am trying to help here.

This particular home sold in 3/08 for 435,000 and a few months later it was re-listed for more then DOUBLE.  This happened when values were still headed down.

What were they thinking?

The price comes down a bit over the next few months and it winds up in the high $700's - still way too high.  Can you guess what the next step was? I hope you're sitting down - not only do they raise the price, they take it up to nearly 1 million!

Mind -boggling.

Forget 'what' are they thinking, now the question is: ARE they thinking AT ALL?

OK, today's rant is over.  I need some coffee and aspirin.

Contact me if you are serious about selling your home.



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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert

Marc, I would have to agree, raising the prise is not a smart thing to do.  Things are getting better, but not good enough to do that.

Jun 10, 2009 04:57 PM #1
Marc Blasi
Palm Beach Gardens, FL

Hi George-

I certainly can't blame people for wanting as much as possible - but they have to be realistic!

Jun 11, 2009 06:48 PM #2
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Marc Blasi

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