This week I had the pleasure of meeting some very nice home owners.  They had purchased a home at the HEIGHT of the market; and I think they overpaid even then.  When the market was red hot buyers were just lucky to get an offer through.  They did - NOW WHAT !?!

Sometimes folks over paid and now - of all times - some of those Home Owners want to sell.  Perhaps not the ideal time; but no one can predict some of life's changes.

To make matters worse is that these folks put LOTS of work into the place.  It looks good - well great really - and compared to the local competition it looks fantastic!

The problem : This area has a HUGE inventory.  While the homes may not be in as good of condition; there are simply no recent sales to support the Sales Price the owners need to not take a loss.  Bottom Line: Drop the Price and Sell it or Don't even try to sell it now.

There are many home owners that can be heard saying :"But this home is bigger"; "Our home is in better shape"; "We put a lot of work into the home".  These can all be very true statements.  However; the recent sales and current inventory is what it is.  These numbers are not made up.

It is not easy to have these conversations with Home Owners.  I have had several this year and it never is easy.  I have had a couple of Home Owners start to get defensive and a bit annoyed.  It is not easy for home owners to accept the fact that they have not made that much money or maybe taken a loss. 

But then (most) Home Owners realize - I am just being honest with them.  If I can't tell it like it is - then I am in the wrong business.  It does no one good when a Realtor allows a Home Owner to overprice their home.  It won't sell - the Realtor just keeps paying for marketing and the seller gets annoyed and frustrated. 

Suggestions for Home Owners:

DON'T: Get angry if a REALTOR tells you that your home is worth less than what YOU think (or wish) it should be.

DON'T: Just agree if the Realtor tells you the price you want to hear.

DO: Ask to see the proof to support the suggested List Price.  

DO: If you are unsure; get a second opinion. 

For a FREE Home Pricing Evaluation; Call me.  I will back up every suggested List Price with the facts and advise you how to get the most out of your home sale.  Are you ready for the TRUTH?  When priced right - your home WILL sell.

Contact me for all your Real Estate needs and questions; servicing Maryland, Virginia, District of Columbia and the Greater Washington DC area.

Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW  Suite 100
Washington DC 20016
202-351-5800 Main Office
Licensed in DC,MD,VA