pricing real estate: The Simple Secret about Big Bear Real Estate that Everyone Knows
- 05/04/09 05:05 AM
We don't seem to want to admit, but we all know it is the single most important factor in determining if your home will sell. It's not something most real estate agents or sellers want to talk about. If your house has been on the market for more than 60 days and doesn't have an offer, you're ignoring it. If you home is in good repair, is easy to show, and hasn't got an offer, you've overlooked it. You can't sell in this market until you get it right. Do you know what the secret is? Click here to see the answer Previous posts … (0 comments)
pricing real estate: Sell your home now, or don't.
- 01/27/09 02:58 AM
The market is moving quickly. You can't wait and see what will happen. Your delay of the inevitable will cost you. Time is not on your side.Sell now, or don't. Don't think it will get better. Don't think that a buyer will fall in love with your house and pay more. It will not happen. Sell now, or don't. Prices are still moving down and buyers are thinking about every dollar. The price six months from now is what they want to pay. They want to insulate themselves from the downturn. Sell now, or don't. Six months from now their will … (0 comments)
pricing real estate: Yes, I do know the market better than Zillow.
- 01/16/09 04:58 AM
Believe it or not a Real Estate agent that works the local market will have a better feel for property values than a computer. While I agree that Zillow should not be ignored completely, using Zillow as the tool for pricing Real Estate can be a disaster. Two examples of this currently are: 43046 Sunset Drive, Moonridge
Zillow Zestimate $232,000 In escrow at $176,000
801 Barker, Big Bear City
Zillow Zestimate $147,500 In escrow at $98,100
This represents a 38.4% inaccuracy from Zillow. You might as well get a dart board and start throwing. Search the Big Bear … (0 comments)
pricing real estate: How much marketing will it take to sell my overpriced house?
- 12/13/08 10:19 AM
How many overpriced homes have sold lately in your neighborhood? Are there a many people buying houses in your home town just because the agent had stupendous marketing? I am not going to try to over analyze a simple topic There is a common denominator with all homes that are currently selling.... they are priced at or below market value. They are priced like the bank owned and short sale listings. They compete with the best values in the market. No amount of marketing will sell an overpriced house. None of the gimmicks, no talking signs, no flashing lights, no open houses, not even a higher … (3 comments)
pricing real estate: How Stale is your Listing?
- 10/31/08 08:57 AM
Sellers that have been chasing the market down for the past year or more need to understand something: Your listing is stale! It's definitely stale, and not just to the local Real Estate agents that have no interest in showing it. It is also stale to the buyers that now spend months on the internet searching for the right house. All of these people are bored with your extended listing and unreasonable attempt to sell above the market price. Now that you have a stale listing, what overcomes the objection? Price! As a former retailer a phrase that stands out is: You … (0 comments)
It doesn't matter what you do right, if the price is wrong. All the marketing in the world will not sell an overpriced house. The single most important factor in selling your house is the price. Lately I have noticed some similarities to this game going on in our market. The price will have the right numbers, just the wrong sequence. A client of mine and I started playing this game the other day while we were looking at the homes available here in Big Bear. The house that started this humor was priced at $329,000. My client … (8 comments)
pricing real estate: Buyer's, Seller's and Lister's
- 07/01/08 07:15 AM
Buyer's often ask the question "What should I offer?" before they find a specific house that they want to place an offer on. They want to know the formula for the list price verses the actual purchase price that they will pay. They ask questions like "If we shop in the $400,000 range, what price do you think we can get it for?" I always respond the same. It depends on the house and if it is priced correctly. How long has the house been on the market at this price? This is a more important question than, "How long has the … (2 comments)
pricing real estate: Real questions and Real answers regarding Real Estate Commissions.
- 06/15/08 05:35 AM
Worrying about what you pay, instead of what you get, is a mistake that will cost a seller thousands in the current Real Estate market. Pick a quality agent from a local brokerage and expect professional service. List with a discount brokerage and expect a discounted offer. Put a sign in your yard that says "I'm cheap" or "I'm desperate" and expect cheap buyers writing cheap offers. Q. Is a Real Estate commission negotiable? A. Yes. First let's look at the services being provided and the costs that are associated with them. We should talk about the commission that you are requesting and I … (2 comments)
pricing real estate: Spin the bottle.
- 05/11/08 11:43 AM
It seems sellers want to use every type of method to price their home except the market conditions. You might as well sit down and play spin the bottle.
The other players at the table are: I owe this much. (Check out my new car and boat) I want this much. ( I think you can sell a Yugo for $50,000 if you run an ad on the Superbowl) I need this much. (Buyers care how much I need) I don't really need to sell. ( I just want to waste your time and money) My brother is an agent … (8 comments)
pricing real estate: Do you want to buy the house or test the water?
- 03/26/08 09:48 AM
Buyers in the current market are wondering what they should offer. It's understandable, with the market conditions still moving down in Big Bear,buyers aren't real comfortable offering near the list price. After you have spent days working on finding a home that fits you needs, shouldn't you be able to buy it for 25% off of the list price? What determines how much you will write the offer for? Sold since 1/10/2008 As you can see, based on the last 91 closed residential sales in Big Bear, homes are selling at 92.27% of list price with an average of 141 days on the … (3 comments)
pricing real estate: Shouldn't we price my home with a little cushion?
- 03/01/08 06:28 AM
I get this question on most listing appointments that I have. The sellers want to leave some room to negotiate. In a market that is moving in the sellers direction, pricing your home with a little cushion will benefit sellers because 30, 60, 90, or more days from the list date, the home will be worth more. That is why we always say "It's time or money". In a buyers market, it's "TIME AND MONEY". Pricing with cushion will often price your home above market value and effect showings. Slowing down the showings on your property will result in wasted market time. With … (3 comments)
pricing real estate: $5 dollar bills for $4.99...
- 02/12/08 04:30 AM
As a former retailer, I used to joke...$5 dollar bills for $4.99...Let just run this advertisement in the paper this week and see what happens. We won't have any inventory to buy, and what ever we sell can just go back to the bank at the end of the day. I'd be happy to get people to walk through the door of my business for a penny. Gimmicks are not the solution and giving away profit is not the answer.....Pricing property correctly, doing necessary repairs and maintenance, and making you home easy to show is the answer. Many times when I meet with sellers these … (9 comments)
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We don't seem to want to admit, but we all know it is the single most important factor in determining if your home will sell. It's not something most real estate agents or sellers want to talk about. If your house has been on the market for more than 60 days and doesn't have an offer, you're ignoring it. If you home is in good repair, is easy to show, and hasn't got an offer, you've overlooked it. You can't sell in this market until you get it right. Do you know what the secret is? Click here to see the answer
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