Steve says it beautifully.
Although Steve is from New Hampshire, what he says can apply to our market as well, as far as pricing your home realistically.
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Via
Steve Loynd, Alpine Lakes Real Estate Inc., Loon Mt, NH.:
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, White Mountain New Hampshire real Estate Expert
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Sylvie - great minds think alike . . . I too, reblogged this :0)