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Home Pricing Even More Crucial Now Than Ever

By
Real Estate Agent with RE/MAX Alliance - Referral Co.

In my local market we had a rough Fall of 07 and a very slow Spring 08.  Many buyers are still holding out, either waiting for the market to "bottom out", or waiting to sell their current home.  Many sellers are still thinking they have the last home that will sell for top dollar.

Looking ahead, I am recommending aggressive pricing NOW as summer approaches.  If a seller heads into August without a strong contract on their home, it could be a long winter.  Both the sales and rental market cool off quite a bit in mid to late August in a "non-boom" market.  A seller must get aggressive soon as crunch time is around the corner. 

Mark A. Moore, ABR - RE/MAX Alliance - Virginia Beach, VA

Comments (5)

Sam Miller
RE/MAX Stars Realty - Howard, OH
Knox County Ohio Real Estate Specialist

I agree that pricing right is the key to a successful sale in this market.  It is much easier for the seller to get in front of the price curve than when they are behind it because once behind it many will find themselves chasing the price curve down.  "The current housing market has placed us in a Price War and a Beauty Contest"

May 14, 2008 03:10 PM
Mark A. Moore
RE/MAX Alliance - Referral Co. - Virginia Beach, VA
Virginia Beach Real Estate

Hi Sam, thanks for the comments. -Mark

May 14, 2008 03:17 PM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Mark you are correct. Without proper pricing all the marketing that is done will be wasted.

May 16, 2008 03:47 AM
Richard Ives
Chicago, IL

I agree Mark.  Great post.

May 16, 2008 04:26 AM
Mark A. Moore
RE/MAX Alliance - Referral Co. - Virginia Beach, VA
Virginia Beach Real Estate

Thanks Bill and Richard.  -Mark

May 16, 2008 04:40 AM