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Live like you are dying, the lyrics of this Tim McGraw song speaks volumes to many different people.

As I listened to what this song is advocating, It occurred to me many sellers should heed this lesson. They put a price on a property that they think "someday" it may sell for. If moving on with your life requires the sale of a property you own...there is not an infinite amount of time to accomplish this sale. Life is Short.

What got me thinking about this, is I have several short sales a bank owned sale and a probate property that are pending. With these sales the process to close will be longer (in some cases much longer) than the time it took to find a buyer. The price was right, the buyers where motivated and the sellers showed their willingness to sell, by pricing the property to sell.

List like the market is dying. Life is Short.

#1 If you are going to buy after this sale...the sooner you sell the sooner you are in the buyers shoes (you are merely trading equity...if you buy a replacement property).

#2 Moving on is far less painful than hanging on (how many months of mortgages, taxes, insurance utilities will be spend holding...after you admit you want to sell).

#3 You may be better off renting for a time (dropping the major maintenance costs and healing your credit may put you in a better place in the long run than draining your savings, while waiting to score on unrealistic re-sales).

My Bucket list doesn't include living in a home I can't afford...and waiting for someone to over pay me for the same privileges. Life is Short.

 

 

Steve Loynd profile photo           

                                                                                                                                                                              Your-White Mountain New Hampshire real Estate Expert

                    steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898

                        MLS search and Realtor web site: www.alpinelakes.com

                         My outside Blog: www.steveswhitemountainblog.com

                    Lincoln NH &  Local interest site: www.localism.com/nh/lincoln

    Grafton County NH MLS search

 
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57 Comments on Live like you are dying and list like you're bank owned.

OCT
26
2009
395,027 Points 35 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Steve:

You are so right. People need to learn to move on.  Holding out for a price that you are not going to get is just not worth the stress.  Great point.

 
3:44pm • #1
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Claudette...I have tried to tell sellers that it is much more painful to pull off the band-aide slowly...and it takes longer to heal, then if you do it quick and get it over with.
4:22pm • #2
671,545 Points 69 Featured Posts Outside Blog Attended Rain Camp

Great tips. You are the king of metaphors. In almost every single blog post I've read that you have written, you have compared two unlike things (no complaints though--I don't think that I ever employ that style, so it's kind of interesting.) I'm just wondering . . . what are you going to compare the pumpkin to?  Have a great evening, and thanks for your comments on my posts!
6:49pm • #3
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Melissa...King of the metaphor....ok I'll take that (although I would rather be the king of England) thanks. It is easier to explain to a client what you are talking about by equating it to something they understand. My pleasure to comment on your posts, I have enjoyed them very much.
8:21pm • #4
367,865 Points 38 Featured Posts Outside Blog Hit Router Called Shot Master

Steve - I was compelled to read your post.  I hope the sellers got the picture, great job!
8:33pm • #5
OCT
27
2009
572,460 Points 9 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Steve, good article that is to the point. Letting go may be hard to do but moving on is living.
7:48am • #6
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Silvia...Thanks, we all have to know when a patch isn't going to hold back the water...its time to get out of the way of the dam.
7:53am • #7
535,068 Points 25 Featured Posts Localism Sponsor Called Shot Master

Great post Steve -  I've re-blogged it to my Localism blog for some local Sellers to read :0)
8:18am • #8
205,231 Points 1 Featured Post

Steve, I also think you said it beautifully, and I also reblogged your post.  We may not have short sales, but we certainly have homes that are 'hoping to sell one day' (overpriced).  Hopefully sellers will listen ... and with Tim McGraw attached to the message, how can they not get it? :)

 

 
8:39am • #9
402,299 Points 2 Featured Posts Called Shot Master

Best post on this subject in a while.  I don't reblog unless it is exceptional, or I think I can add something to the post.  In this case, I don't believe that I can add anything, you said it very well.  I was looking at homes yesterday, and came upon one with a price adjustment UPWARDS!  Very interesting.  They were overpriced to start with.  They don't want to move.  (Thanks, Sylvie, for the heads up on this one. )
8:54am • #10
551,723 Points 3 Featured Posts Outside Blog Called Shot Master

Steve, Great thoughts, for many families the tie to their home represents a tie that isn't easily broken through an analytical review of facts.  It is a symbol of their dreams and family history. Your approach in assisting Sellers to come to grips with the facts is well presented. 
9:07am • #11
680,807 Points 130 Featured Posts Attended Rain Camp Called Shot Master

Clever title and thoughts. It's amazing how difficult it can be to get the seller to accept an offer....the greed takes over. Even a nice over-asking offer with qualified buyers can be turned down to get just a bit more. Foolish and greedy...and risky. I had a buyer walk away because they were annoyed at the greed. That home was on the market for another 3 months and they ended up with $20,000 less.
9:17am • #12
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Wow...Thanks - Susan & Sylvie - for the re-blog, I do think the life is short metaphor is easy to understand for many people...but for others its hard to come to grip with reality. Hope for more money has never been a good business strategy, market value is what it is, seller have to get in the game or sit on the bench there is no in between.
9:23am • #13
122,575 Points 3 Featured Posts

Yes exactly!  What are people hanging on for?  Life is too short.  Get it done and move on.
9:42am • #14

So, So right on........I am just not taking listings unless they have a "reality" of what it takes to sell now days.
9:46am • #15
Localism Sponsor Outside Blog Attended Rain Camp

Steve,

I'm going to take your message to a seller today!

Thanks, Big Guy!  for putting it into perspective!!
9:51am • #16

 

Thanks for the great post!

Somehow, we have to get sellers and maybe even ourselves to see value beyond just the dollars.  Moving ahead and on in life must be given value.  Loosing dollars in exchange for the goal of moving to another area, simplifying life, downsizing, etc must be seen as a positive experience.  If we stay attached to the money, as it swirls down the drain, we will go with it!

 

 
10:12am • #17
5 Featured Posts Outside Blog

I agree!! Very well said!
10:12am • #18

I agree! Good post.
10:37am • #19

Now convincing the seller is the challenge...
10:38am • #20
848,632 Points 153 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

I tell people that all the time in Ann Arbor and Saline.

If fact you said it so perfectly I re-blogged it.
10:43am • #21
608,296 Points 26 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

We have a seller or two that needs to hear this message - mind if we borrow your analogy? :)
10:55am • #22
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Missy... Thanks so much for the re-blog, that is awesome...I hope it brings you some good client feed back.

 
10:55am • #23
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Sharon...Please feel free to pass this analogy along...it really did strike me as a life is too short moment. You'll get a kick out of a very tongue and cheek post I wrote this morning called " If I had a pony I would ride him everyday...I swear!.
11:06am • #24

What a great post, brilliant. I'll be passing this on to all my realtors.
11:06am • #25

Eloquently spoken!  Amen...
12:14pm • #26
813,393 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I have told people it is better to sell low and by low than to sell high and buy high.
12:17pm • #27
Outside Blog

Steve, I hope sellers are reading your blog. Very sound advice. Thanks.

Boulder City Steve
12:28pm • #28
461,861 Points 47 Featured Posts Localism Sponsor Hit Router Attended Rain Camp Called Shot Master

I had an ex-client who wouldn't believe what the appraisers told her what her house is worth. She backed out of escrow when the buyer's appraiser came up with $625K appraisal on her house after the buyers offered $660K. Buyers still wanted the house, and offered $15K above appraisal, or $640K.

She refused. So now, it's back on the market with another agent....another two months on the market and with it, her hefty monthly payments. She coulda been outta there sooner!

No amount of statistical information, spreadsheets, etc. will convince her.
12:40pm • #29
112,091 Points 1 Featured Post Outside Blog Attended Rain Camp

Steve that is great advice.  I've had the conversation of trading equity for equity just last week with my sellers and once they get it, it makes the whole process that much easier.
1:15pm • #30
563,639 Points 17 Featured Posts Called Shot Master

Steve - excellent philosophy for all aspects of life. But appropriate for both the seller and the buyer in today's market.
1:25pm • #31
155,866 Points Localism Sponsor

Steve,

Great post with great advice. I have a seller I have been trying to convey this idea to for a while and it is great to have your post. Other overpriced listings I have, I have successfully encouraged my sellers to either let the listing expire or reduce the price.

Life is definitely too short not to move on. Thanks!
1:51pm • #32
457,013 Points 22 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Steve - 

I like that phrase:  Moving on is far less painful than hanging on.  I think I'll use that one.  Thanks!
2:23pm • #33
202,016 Points 14 Featured Posts Attended Rain Camp Called Shot Master

Interesting thoughts, Steve.  Living in the White Mountains, away from the smog, noise pollution and taxes must make one's mind think more clearly.  Maybe we should all take your advise.
3:55pm • #34
751,535 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Steve, found this re-blogged by Missy Caulk and wanted to come by and say that I loved the title, as well as the post.
4:32pm • #35
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Pacita...My high-end sellers have been adamant about there prices, not realizing they could be buying some great replacement properties if they could get out of their own way.
4:36pm • #36
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Susan, The moving on is far less painful than hanging on thought came to me while I was writing this post, but I'm sure there are some ex-husbands trying to use this logic somewhere in the world as we speak.
4:39pm • #37
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Rebecca...I'm glad you enjoyed the post and I'm so happy that Missy thought enough of it th re-blog the post...thanks for finding me my friend!!
4:42pm • #38
186,349 Points 2 Featured Posts Called Shot Master

You're preaching to the choir Steve. Sellers always have reasons why market forces don't apply to them.
10:32pm • #39
133,539 Points 2 Featured Posts Outside Blog Attended Rain Camp

I have 4 of them right now that will never sell because they have to get their price even though they have to sell.  (according to them)
11:27pm • #40
980,363 Points 81 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I came from Missy's reblog.

There was an old joke back in Russia, and a famous comedian played it perfectly. It was about lobsters on the market, where yesterday they were for 3 bucks and they were large, and today they are small and they are for 5 bucks. The guy was trying to scramble this dilemma: yesterday large and for $3; and today is small and for $5.

So many Sellers would like to sell it today at yesterday's price and buy tomorrow at today's price.

 
11:50pm • #41
OCT
28
2009
124,162 Points

Great post.  There are people who are motivated by life events and I don't get the delay in right pricing.  If they are maybe they want to sell to trade up, I understand those people.
12:07am • #42
321,003 Points 3 Featured Posts Outside Blog Called Shot Master

Life is short indeed, Steve!  Thanks for your post!!!
2:26am • #43
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Jon...That will be the goal for ever...but when you sell Lobsters you have a perishable item...you better know your market or your dead. I suppose you can make Lobster Salad before its too late. I think Homes have a shelf life too, and unfortunately you can't make property salad when the product starts to smell.
7:41am • #44
550,593 Points 22 Featured Posts Outside Blog Called Shot Master

Steve, yep your right. I like how you phrased it instead of the same nonsense buyers agents have been saying to sellers 'you'll make it up on the other end'.  Someday is just a fantasy and could be quite a time away.  Deal with the situation today, with today's prices and todays circumstances. 
11:21am • #45
1 Featured Post

Steve-

Listing DO have a shelf life. The longer you are on the MLS ( our new system now tracks the MLS history, all those expireds add up) the greater the message your house is sending out to buyers:

"The Market has Rejected Me"

 

Thanks for the post
11:31am • #46
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Lyn...Thanks I'm glad you enjoyed this post, I get a kick out of your blogs as well.
12:07pm • #47
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Jim... Homes are like fish they are great if you do something with them right away, but after a while of sitting around they begin to stink.
12:09pm • #48
OCT
29
2009
1,007,471 Points 208 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Hi Steve!  You're spot-on with this one!  So many pass up that first relatively low offer and later live to regret it!

Debe in Charlotte
10:45pm • #49
OCT
30
2009
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Debe, I'm a golfer, and wish I could take a Mulligan many times after making a bad shot. I tell people all the time...you get no Mulligans when it comes to real estate, there is so much available...miss your shot and live with poor decisions.
7:11am • #50
1,400,068 Points 109 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

An awesome post.  I tell my sellers that the sooner we get their home sold, the sooner they can move on with their life. 
8:27am • #51
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Judi...Excellent way to coach a seller...the early offer is often your buyer send them away and you have made a big mistake.
9:33am • #52
OCT
31
2009
1 Featured Post

Steve, I think you found the pot of gold at the end of the rainbow. Life is indeed WAY too short for nonsense. It is what it is.  Deal with it or die with it.  Great post, my friend!
10:49pm • #53
NOV
01
2009
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Thanks Randy...The nonsense has to be left in junior high school, Now is the time to move on.
6:07am • #54
NOV
02
2009
114,009 Points Outside Blog

I have to re-blog this Steve with banks falling over right and left , appraisals under purchase prices that are steals , just plain whacko, deals falling apart with qualified, solid buyers and SO many unrealistic vendors not too mention the "buying the listing at the vendor price listing realtors.  I am so over this market and the "we don't have to sell" attitude!
9:30pm • #55
NOV
05
2009

Steve,

great message it really struck a CHORD with me.  I'll pass it on
10:07am • #56
707,315 Points 36 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Karen...Please feel free to re-blog this sorr it took me a while to get back to the post...to thank you for your comments. Steve
1:32pm • #57

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Steve Loynd/ 800-926-5653, White Mountains NH

Lincoln, NH

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Steve Loynd, Alpine Lakes Real Estate Inc., Loon Mt, NH.

Address: 7 Linwood Plaza, Box 1135, Lincoln, NH, 03251

Office Phone: (800) 926-5653 x 11

Cell Phone: (603) 381-7898

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