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Where Is My Crystal Ball App When I Need It?

By Cindy Westfall

Real Estate Agent with Premiere Property Group,LLC Portland Metro & Suburbs Oregon

March 26, 2013 02:43 AM

Where Is My Crystal Ball App When I Need It?

The other day a seller said "I don't want to see any more comparable statistics, I want you to tell me how much my house will sell for and how long it will take". Hmmm..well...let's see, I could pull out my magic eight ball and Woman with cryslal ball see what it says...or perhaps there is an App for this, but to give you a definitive number and date is just something I can't do.

Ok..joking aside, as a Portland real estate agent, I DO go by the comparables and statistics of the recent active, pending and sold properties around your home to come up with a price range in which I feel your home will sell in. I can also give you a range of where your home would sell if you needed to sell in a month..or wanted to take your time and "test the market". What I can't do is give you a exact number and date.

As far as how long it will take for your home to sell, I look at the statistics for the average time the homes in your direct neighborhood took to sell. This is an average and is based on your home's specific location, price and condition compared to the others. Each home is different, so to give you an exact time it will be on the market is something I can't give you. I do get it..and I do understand why you want to know this..but

Where is my crystal ball app when I need it?

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Andrea Bedard

Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD

Fluent in Real Estate & German, M.A. ABR ASP CIPS

I need a crystal ball app, too, Cindy! Aaaahhh .. life would be so easy :-) I do understand where sellers are coming from but it's just not possible to predict the future.

Mar 26, 2013 08:48 AM

Lloyd Binen

Certified Realty Services - Saratoga, CA

Silicon Valley Realtor since 1976; 408-373-4411

Cindy, sometimes I talk about the "level of confidence" I have in my estimate. If it's a cookie-cutter condo with many recent identical (same floor plan) comps, I tell them I have a high "level of confidence" in my estimate. But if it's a one-of-a-kind custom home with few recent comps, I tell the seller I have less confidence in my estimate. But these days I'm a little crusty and impatient and I might hit them between the eyes with the price I know will sell the home in 1 week. Yes, it's a low price, less than they're thinking, but that's where I start the discussion if that's the question they ask. Of course that's hard to do if I already gave them a higher price and was wrong. Alternatively, get a 2-year listing. Good luck, best wishes and have fun.

Mar 26, 2013 08:59 AM

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

Cindy, This would be nice if we did have that app. Did you check first?

Mar 26, 2013 11:12 AM

Cindy Westfall

Premiere Property Group,LLC Portland Metro & Suburbs Oregon - Tualatin, OR

ABR,GRI Your Tualatin & Portland Metro Real Estate

Hi Andrea, Now..thinking if I had a crystal ball that actually worked..I just might not be a real estate agent :)....but who knows! I understand why the seller is asking...it's just not something that I can answer without opening up many issues down the line.

Mar 26, 2013 12:02 PM

Hi Lloyd, crusty huh? Like you, depending on the home and neighborhood, I can get pretty darn close...but to pin me down to a price and date that the home will sell is just not doable. Oh..like you said, I KNOW a number that the home would sell for if listed tomorrow..but don't think the seller wouldn't like that number :).

Mar 26, 2013 12:04 PM

Hi Debbie, actually...there are a few crystal ball apps...LOL. just not one real estate specific :(

Where Is My Crystal Ball App When I Need It?

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