Hello all! It's been a while since I have had a free minute to put down any thoughts or experiences on my blog. The reason being I have been completely busy listing and selling homes--finally. And that's a good thing--unfortunately, to the detriment of my blog.

Bank property transactions are a little different than typical owner transactions. There is no personal attachnment to the home and prices are arrived at by strictly looking at empirical data. Lately, asset managers have been very aggresively pricing property and the results have been overwhelming. But--it proves that price is king and people know where to find a well priced home. All the advertising in the world won't sell an overpriced listing.

For those of us working with hopeful buyers of foreclosures--the market is worse than it was at the height of the 2004-2005 market. I received 31 offers in two days, on a home priced at $164,500. The home eventually sold for $227,000. That's a colossal increase. Every single offer was above full price. I am positive the strategy is to get multiple offers on the table by seriously underpricing property. The beauty of the situation was that the home sold for nearly retail even though it had some issues.

Recently our group marketed a home that should have sold in the mid to high $400,000's starting at $299,000 until title problems quickly revealed and the home was removed from the market on day 1 and before the 50 agents who showed it had the chance to submit their offers.

It has clearly demonstrated the old addage that "price is king"! If you are dealing with an overpriced listing or have a seller that wants to overprice his home, this is a great example of how pricing gets the job done. By relating this to my real sellers I have been able to keep prices reasonable and receive multiple offers!