Yesterday, I emailed my 2010 Year End Market Summary which included a paragraph on the truth about pricing. Because while prices have eroded an estimated 50% from their high reached in April of 2006, many sellers facing a loss are refusing to admit this.
The most common complaint is that my agent didn't do enough to get the high price that this special house could really command. So they switch agents, over and over and over hoping to find the right agent with the "silver bullet" that is going to get them an above average price, without financing. In other words, they want a cash buyer to walk in, fall in love with the house and pay them what they are asking. No verification of value needed, thank you very much. Ask any Realtor and I will bet this is the number one issue they have with sellers
So, in the paper was a list of 44 recent sales in this area. About 1/3 were purchased after 2003 and of these only one was sold for more than the previous purchase price. And by just a little more. Moral: House prices have declined. So if you are thinking of selling or are trying to sell, hire a professional Realtor and listen to what they have to say about the price you should list at. With one caveat.
Some agents will agree with the seller on a price just to get the listing. Rule # 1: An overpriced home is not a listing, it's an overpriced home which will lead to frustration by all parties involved and most likely not to the closing table. Call 3 agents and average out the price ranges they give you. Remember: HOPE is not an effective selling solution.
If you want more ideas on getting your house sold quickly and smoothly in this turbulent market, you can watch my video series on my You Tube Channel. Or if you want a copy of my 2010 Year End Summary, send me an email.
You can see all Jupiter homes for sale at Coastal Florida Real Estate but for personal service call or text me at 561-762-4073.
.
Comments(0)