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group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
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Whatever it is you're into and wherever you are, AR surely has a group for you to join.
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Each month AR runs numerous contests as a way for our members to engage in activities
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Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
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Your Homepage will alert you of new questions in your state
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
Tough love with a bite of reality for sellers in New London County serious about getting their home sold.
I've told this story a few times over the past year but finally my story has an ending. Not a happy one.
A year and a half ago, I completed a market analysis for a relocation company for a transferring client who owned a home in Ledyard. My suggested list price of $325,000 was significantly lower than that of the agent I was competing against. The homeowner, thinking his home was worth much more than my recommended price, listed his home at $389,000. The infuriating part of the story is that this home was located in a subdivision of similar homes and not one of them had sold anywhere near that price. To suggest a list price of $389,000 was just crazy. I was so incensed that I sent an email to the relocation contact saying I would have considered it a violation of the code of ethics to suggest listing the property at that price.
Last week the home closed at $210,000. This is not a typo.
Prices continued to drop by about 1% a month in 2009. By listing so far over market value, the relocation company, ended up chasing the market down with a series of price reductions that were too little and too late. In hindsight, my $325,000 estimate was probably a bit high, but had the home been listed at $325,000 in July 2008, I suspect the end result would have been a sales price of about $300,000, a $90,000 difference. It would be unprofessional of me to send an "I told you so" email but I admit I feel vindicated.
The best chance of selling a home close to asking price is within the first 30 days. Sellers would do themselves a favor by pricing their home lower than the competition and lower than recently sold comparable homes. Chasing the market down is never pretty.
Straight Talk on Tuesday Morning is an ongoing series for sellers in New London County who are willing to listen, roll up their sleeves, and do what they need to do to get their home sold. If you aren't serious about selling your home, then move along. There is nothing to see here.
Linda Davis has been selling real estate in Ledyard CT for 33 years. You'll find Linda's complete profile on her Online Business Card.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.