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Third Time The Charm for Home That Didn't Sell?
Is The Third Time the Charm for Homes That Didn't Sell?
Often in rural America, the homes in the higher price ranges struggle to find buyers, especially in this economy. With most of the jobs in the Metropolitan areas, and most small rural communities not having as many buyers who can qualify for the $500,000 + price range homes, homes can languish.
In pulling comps and helping a family evaluate market conditions I found that many of the homes had been listed one, two and even three times and had not sold.  Some of these have been on the market for nearly five years!  In trying to figure out what was wrong with these properties, many of which were in excellent condition, I found some very interesting things:
Pricing:  It doesn't matter what you paid, how much you owe, what the insured replacement value is, what debts you would like to pay off, or what the new home you plan to buy will cost.  What does matter is what are the comparable sales and how competitively priced are you with them?  How long did they take to sell? Your home must be priced better than the other homes on the market, ... more

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