I hear this a lot and the truth is yes there are homes selling. While our average days on market it still around 200 days, there are homes selling in less than a month. Why...usually home is in great condition, staged to enhance the homes features, and the price is right. Not a little high or a lot high, but priced to be the best, most attractive in its class. Showed about 7 homes already today and fact is, most sellers are still denying this market. Prices are down 10-20% in most subdivisions so if you want to sell, look at what sold last, compare, and then price accordingly. Actually saw one today, the new listing agent has on the market as new, at a higher price, and it was probably the worst condition of any we saw. This type of listing does no one any good and as agents, if a home has not sold at a price for over a year, why in the world raise the price, other than to try impress the seller with some far out strategy since you are the new agent. Oh well, the search goes on...have buyers, ready, qualifed and there home is sold, yet, current inventory in their price range is not wowing them...
In today's market the home and the price has to say WOW! If the house is missing one of the two WOWs, then it will sit. People are making the mistake of pricing homes comparable to homes that are on the market and that is not the reality....the reality is less than what has sold. So, homes sit and rot. It is a realization of dealing with reality and most don't want to hear it. Going to an appointment today to tell the owners that they are 20% over the market. They will probably throw me out the door, but I have to be real......
Hi Joe,
It's easy to feel discouraged with all the negative media out there, but I do believe that homes are selling~the stats keep telling me so!
Michael
Homes are selling.....at least in the Charlotte market. Over the last few months I have seen more multiple offer situations than I saw during our peak market a few years ago. The sellers who are realistic on their price are getting their rewards. For most it is the perfect time to move up.....take a lesser price on their existing home but get a great deal in their move up price range.
My partner Chrissy and I are busy...Now some of you folks may laugh at this, but our market is UNDER the 150K range and that number buys a fairly nice home here in southcentral PA...So, we end up doing a lot more work than some of the 'elephant hunters' but we have consistent income and build some lasting relationships that generate referrals in this range...Price them right to start with and they'll sell.
Hi Joe, I think you broke the code ! A listing must be the best or the cheapest - preferably both to sell in this market.
Things are definitely looking up in the Prescott, AZ area:
Here's my latest Q1 update I posted yesterday:
Happy selling this year!
:) PS
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