Some deals are too good to pass up!   

I heard a good comparison story that explains the concept of price vs. value pretty good and here it is...  

Part 1.   A bicycle salesman approaches a guy in his store and tells him about the great sale going on.  The pitch is very convincing with the super lightweight titanium frame, with new tech super lightweight helium tires and a built-in XM radio and GPS system.  The salesman said that due to the slow economy, they are cutting the price in half so he can get it for only $500.   The prospect says that is an unbelievable great deal but said he is short on cash and will have to pass up on it despite the super sales pitch.  

Part 2.   As the guy with no money to buy the bike is leaving the store, he runs into a friend on his 2000 customized FXR Harley motorcycle that approaches him and says that his wife is going to leave him if he does not sell his motorcycle fast.  He said the Harley was worth $18K.  To save the marriage, he was willing to sell it for only $5000 but it had to go today.   The same guy said, I don't have the money right now but if you will hold it for me for 1 hour, I'll get it!  

Moral of the story...   Even in a slow economy, people will find a way to buy a deal.  Buys occur when the value exceeds the price in the buyer's mind and the greater the difference, the stronger the buy signal.  This is why plenty of homes are selling across the country in every town.  The value exceeds the price and there is usually a good realtor helping the buyers see this!  

Moral of the story for a person thinking about selling in this market:  Find the best listing agent you can and price it right with the market with a great marketing plan so it sells fast!   

For homeowners and investors, it's good to know the Cost vs. Value too and here's the Realtor.com remodeling cost vs value report link...  2007 Cost vs. Value National Data    

Thanks for your business.

Senior Mortgage Advisor

Carolina Mortgage Company - 843-230-7929

Senior Advisor - Helping you GROW your business!

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