What has home sales activity been during the first six months of 2010 for the communities of the Vineyard, one of north central San Antonio's nicest areas? (Need more information about the Vineyard--see previous post regarding the area.)
The communities with the greatest sales were The Renaissance, and Napa Forest/Sienna Woods. However, based on current sales rates, these communities have adequate capacity for the coming months. There is an over supply, so Sellers cannot be overly aggressive in pricing if they intend to get their houses sold.
See the chart, below, for activity in the Vineyard for the first six months of 2010.
The last column shows the number of houses that were on the market during the previous six month period, but were not sold. The owner either had a change of mind and withdrew the offer to sell, cancelled the listing, or the listing expired. In either case, there was an offer to sell that was not fulfilled. I've seen statistics that suggest that somewhere around 50% of houses offered for sale do not get sold. Seems like a pretty high number, but maybe it's correct.
My point in bringing this up is, when I represent Sellers I want them to understand the following:
- If we agree to work on getting your house sold, we have to both commit to the process.
- It is likely the house will not be sold during the first month it is on the market. I like to have six months to complete my full array of marketing. However, in Real Estate, everything is negotiable.
- If I didn't think I could help you get it sold, I would not accept the listing. It is a financial, physical, and emotional drain to have a listing that does not get sold.
- If you insist on pricing the house significantly above where the market is willing to accept, I cannot accept the job of getting your house sold.
If the house is priced correctly, and aggressively marketed, it will get sold. If the pricing is above the market, or if the agent is not using an effective marketing plan, the house will probably not get sold. Buyers have some great opportunities on homes in the Vineyard. Nobody is giving houses away, but there are some great homes available now.
Call me if I can help you buy or sell your real estate in San Antonio.
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