What? A Realtor telling a Seller to get their home off the market? Not convincing them to "List with me?"
YES. If you don't HAVE TO SELL your home right now, this is not the time to test the market. Unless you are ready to price your home for market value TODAY and not market value a year or even two months ago, then please don't add to the glut of homes for sale.
Why, you ask?
1. Jacksonville has 12,937 homes on the market, down from 14,081 in September 2008. 11,257 are single family homes. 1,076 are townhomes. The rest are mobile homes.
2. 841 single family homes sold August 1 through Sept. 30. 726 sold November 2008 and 571 sold Jan. 1-24, 2009.
3. That's a 14-22 month supply of homes, depending on the month. A balanced market is 3-4 months.
If we reduced the inventory by even 25%, then we would have a 10-17 month supply. If we reduced it by 50%, we would have a 7-14 month supply, even better. We would be working our way back to a normal market.
New Home construction starts reported that new home starts were at 1945 levels for last August. That's right, 1945. That means the builders have gotten the message and slowed to a turtle pace.
Now we need your help, Mr. and Mrs. Seller. If you can't or don't want to compete with the short sale down the street, then do our economy a favor and bow out gracefully. We won't mind. In fact, everyday our brokers are asking us to give back listings that aren't going to sell because they are overpriced. They know the key to stabilizing home prices is reduction in inventory.
So please do a service for your community and for yourself. Take your home off the market and check back with us in a year or two. The market correction cycle will be behind us.
How do you know if you should take your home off the market?
1. You hear your agent's recommendations for pricing and conditioning your house to sell, but you don't want to price it that low and/or you are unable to condition your house for maximum appeal. This could mean staging, painting, repairs, landscaping, decluttering, etc.
2. You really don't have time to prepare the house for showings.
3. You really don't need to move and only want to sell if you can get a certain price.
4. You haven't had a showing in a month and you just can't bring yourself to adjust the price or condition.
5. You haven't ever had a showing - hello, the market is speaking!
If we ever want to see another Sellers market again and we know you do, Mr. and Mrs. Seller, then we must work through the foreclosures and short sales that are coming on the market. Until we do, you aren't going to like the listing price any of us who are truthful recommend.
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Want to know more about fabulous Clay County FL and Fleming Island FL in the Jacksonville FL area? Email me at sharon@teamalters.com
Text or call 904-673-2308
Visit our website at www.teamalters.com for all Clay County FL, Fleming Island FL homes in the greater Jacksonville FL area.
Original Photography, All Rights Reserved. *Please, Take Your Home Off The Market!*
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