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A Way To Help Improve Housing Market Values

By
Mortgage and Lending with Sun Pacific Mortgage and Real Estate DRE#01014873/NMLS#361315

With the regularly changing housing market Listing Agents need to be smart about pricing a house for sale.  Doing comps within proper radius is important but what if there are no comps within a 1 mile radius? 

Every now and then with the Seller/Owner I’ll have to “eat crow” and rapidly correct a price on a home…. for instance, I just made a PRICE REDUCTION to $210,000 on 438 Bosley St in Santa Rosa!  It's definitely a fresh opportunity to get into this remodeled 2/1 home with a modern kitchen yet vintage feel & look with a big yard and extra storage shed.  With the right price, it immediately starts attracting attention!

When figuring out the listing price, I’ve found it helpful to contact RE Agents with their listings Contingent and see if they can provide any information for me to comp my Listing.  Also taking into consideration houses on the market that haven’t sold yet…. Possibly personally taking a tour of these Listings to see how they comp with my seller’s home that I am listing.

Pricing a house too low won’t help this housing market regain it’s value as it should be…. But pricing too highly will keep a house for sale on the market extra long and possibly end up being detrimental as the price will have to come down even more to get renewed interest in the property.

I for one try to have the Sellers/Owners that I represent with their remodeled homes price it correctly at the out-set.  I have tried keeping it just below or at market value and bit by bit the prices or values are starting to creep back up on each house I list.

If we play our cards right, RE Agents can help increase the housing market, I’m sure of it!

 

 

Comments (2)

Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Lynn,  absolutley     right.....homes must be priced properly to sell in a timely fashion...tks for sharing.

Mar 07, 2012 07:24 AM
Lynn Tardibuono
Sun Pacific Mortgage and Real Estate - Santa Rosa, CA
Sun Pacific Mortgage and Real Estate

Thanks for reading. The message of this one is clear and correct. Happy Sales

Mar 08, 2012 07:13 AM