Wow, over 19000 listings in the Columbus metro areas. I let expire or gave back over $1,000,000 worth of listings last week mainly because Sellers were not motivated. It was my mistake for not recognizing this in the begining but I thought they would do what I asked. They didn't so I quit wasting my money on them. The market is what it is and right now its all about price and quality for most homes. I can tell when sellers are really motovated because they call me before I call them with a price reduction. My partner had a listing expire and we asked about a price reduction they said they knew they should reduce it but "I'll be dammed if I sell it for less than what I paid for it" well, you have to wait for the market. Sometimes they forget about all the tax breaks & enjoyment from the house. Also, they forget they will make it up on the other end (if that is what they are looking for). We have over a 9 month supply of homes on the market right now, things are selling at a good clip but you have to stand out, have some unusal feature or be priced below the market. It's simple economics. I was on a Realtor tour today and saw a new listing a 90 yr old guy was selling , needed a lot of work but priced $30K below market because it needed some cosmetic work, I called my investor friend and he looked and we were going to write an offer but decided against it because there was already an offer and 2 more coming in! Im sure it will go for more than list price in a day! So this goes to show, they are Buyers out there, they are looking for deals though. So in most cases, it's the price silly!
amen