You Are NOT Ready To Sell Your House Yet!!

By
Real Estate Broker/Owner with Cam Realty and Property Management
http://actvra.in/4zcG

 

You Are NOT Ready To Sell Your House Yet!!

Homeowners decide to sell their house for number of reasons. Regardless of the reason, the sale price of their house is dictated by local market conditions.

Homes are worth as much as buyers are willing to pay! Nothing more, nothing less. In some parts of the country, homes are selling over their list price after receiving multiple offers, keep in mind real estate is very local. Uncle Bob’s house in Los Angeles CA might have sold $20,000 more than asking price within two days of listing, however, California real estate market can not be compared to Central Florida, you can’t even compare it to South Florida..real estate is local!

Before you get sucked into all the advice friends and family are freely offering, various internet sites are showing higher/lower prices than actual market value, it is best to speak with a local Realtor® and have them prepare a market analysis which shows facts. You always have the option of hiring a licensed Appraiser for couple of hundred dollars to do the analysis for you. Their report would be based on facts.

Are there unrealistic sellers? You bet there are but you don’t have to be one of them. See, if your house is priced too high, it will just sit on the market collecting cobwebs. Why would any buyer pay $50,000 more for your house? This is not a popular message for Realtors to deliver, in fact, it is probably easier to list the overpriced house with hopes that sellers will come to their senses and agree to a price reduction. That happens as well but this is a conversation to have upfront, not six months down the road.

If you MUST net a certain amount from the sale of your house, you might have to wait a few years but keep in mind, you will be paying that much more for your next home so is it worth the wait? What will you be gaining?
What if the house is not your primary residence and it is vacant but again, you must net a certain amount. Unfortunately, the list price of your house must reflect what the going home prices are in the area. If you’re not ready to accept that, how about renting your house until the market catches up with what you’re expecting to gain? It is better to receive rent than no income at all. You must face the reality that your house is not going to sell above what it’s worth unless you move it to another part of the country.
Study the market, look at most recent sold homes in the same neighborhood as the house is located in with similar characteristics as well as what is currently on the market and if you’re not ready to accept the facts, then you’re not ready to sell your house yet.

If you are a Clermont FL homeowner thinking about selling your house, I would love the opportunity to meet with you. Call me at 407-929-1852 or visit www.WhereToLiveInOrlando.com

You Are NOT Ready To Sell Your House Yet!!

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Ambassador
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

The market will set the price. Good for you Beth, interesting piece today. The over priced listings will either come down to earth or sit until they expire.

Mar 02, 2015 09:54 AM #34
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Hi Beth, I learned from a seasoned agent that the seller can get their price. The question is how long do they want to wait and it could take years and years. Buyers set market value.

Mar 02, 2015 10:15 AM #35
Rainmaker
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Carla Muss-Jacobs, Principal Broker (503) 810-7192
BuyersAgentPortland.com | Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time - Portland, OR
Buyer Focused ~ Buyer Results

You have to keep it real Beth, and something keeping it real also means the truth hurts!

Mar 02, 2015 10:24 AM #36
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Praful Thakkar
eXp Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Beth Atalay being realistic in the price is the key - and if that is not acceptable to the seller, they are never going to be ready.

Mar 02, 2015 11:13 AM #37
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Beth excellent advice, and on a side note I loved the picture, where did you find that?? Endre

Mar 02, 2015 11:19 AM #38
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Sellers that have the belief that selling for their ideal number is just giving the house away are not ready to sell.

Mar 02, 2015 11:20 AM #39
Rainmaker
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Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Hi Beth -- it is this simple!

 

"Study the market, look at most recent sold homes in the same neighborhood as the house is located in with similar characteristics as well as what is currently on the market and if you’re not ready to accept the facts, then you’re not ready to sell your house yet."

Mar 02, 2015 12:10 PM #40
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

We as people probably are never ready for most things and that never stops us. We're kind of crazy like that. :)

Mar 02, 2015 01:10 PM #41
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Joan got the best part of the piece, I would say. She's dead on about everything!

Mar 02, 2015 01:11 PM #42
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Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Beth - And, some people are just not ready to sell their house for the price that the market says it's worth.

Mar 02, 2015 03:04 PM #43
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Hi, Beth! I couldn't agree with you more. Homeowners who are planning to sell their home should speak to an experienced local Realtor first before anything else. 

Mar 02, 2015 03:33 PM #44
Rainmaker
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Kat Palmiotti
Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Yes, if homeowners need to net a certain amount, they may need to wait -- but there's a cost to that.

Mar 02, 2015 06:47 PM #45
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I give feedback and input and my word counts. From there, I carry out what I was hired to do...Sometimes it is easy and sometimes not. But we do get there

Mar 02, 2015 11:10 PM #46
Rainer
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Mark Wagner Jr.
Zion Realty - Gilbert, AZ

Great advice! and even if the seller wants a certain price or gets a contract at that price doesnt always mean it appraises at that value! Like you said the market dictates the price :)

Mar 03, 2015 12:20 AM #47
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Sharon Paxson
Arbor Real Estate - Newport Beach, CA
Newport Beach Real Estate - Arbor Real Estate

Hi Beth - love the photo and yes there are some sellers who are unrealistic, and want to sell for an unrealistic price. The market is the market, and the house will sell for fair market value.

Mar 03, 2015 01:09 AM #48
Rainmaker
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Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Oh yes, so true, Beth.  The market dictates the price you can get.  It's then up to you whether/when you will sell.

Mar 03, 2015 10:04 AM #49
Rainmaker
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Lisa Von Domek
Lisa Von Domek & Associates LLC Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Beth,

Great post as real estate is local (no matter what Zillow say, LOL)  The market dictates the price.

Mar 03, 2015 10:41 AM #50
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Beth. Your title really caught my attention. Even if the seller does get an offer on an overpriced home, there are still other issues to deal with like appraisal if the buyer is getting a loan. 

Mar 03, 2015 11:01 AM #51
Rainmaker
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Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

If you are not willing to face the facts, perhaps you are not ready to sell your home yet. I like that verbiage!

Mar 03, 2015 03:11 PM #52
Rainmaker
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Mark Edwards
East West Communities, Hampton Roads, Virginia - Suffolk, VA
East West Realty

Great points, will have to share this with future sellers!

Mar 03, 2015 10:56 PM #53
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Rainmaker
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Beth Atalay

Cam Realty of Clermont FL
Sell or Buy Homes in Clermont FL
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