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Is your home "On the Market" or does it just have a sign in the yard?

By
Real Estate Agent with Springer Realty Group RS305712

   

     Drive through your neighborhood, how many For Sale Signs do you see?  How long have they been on the market?  There could be any number of reasons that a home has been on the market for a long period of time.  But, many times it is as simple as this: Price.

     When your Realtor comes to your home, he/she will come armed with comparables of similar homes that have recently sold, are active and have expired in your localized area.  These studies are done for a very good reason.  Price is about a method of specific calculations.  These comparables (or "comps" as they are often referred to) provide very specific information as to where your home should be priced in order for it to sell in your CURRENT market.  The selling price is, of course,  up to you.  But, putting a price on your home because your neighbor sold their home last year for that price is not going to work now.  Your home will, most likely join those homes with signs in the yard for months on end.  Your Realtor will suggest a price range that fits that criteria that the comps support.  Do you HAVE to list within that price range?  Of course not.  But, ask yourself the question:

Do I want to be actively ON the market or just have a sign in my yard? 

Comments (4)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Great analysis! If we could get some of those signs out of front yards it would be easier to sell the homes truly on the market! Enjoy the day!

Jul 28, 2011 12:53 AM
Gabrielle Kamahele Rhind
KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ
Broker/Owner

GOOD MORNING FAITH!  And then if you get an offer after that sign has been in the yard a long time - it's a good idea to work with it!

Jul 28, 2011 12:54 AM
Sherri Berry
Reliant Realty, Murfreesboro - Murfreesboro, TN
Murfreesboro TN Homes & Real Estate

Good morning Faith, I don't get seller's over pricing their homes in this market.  Even IF they were blessed with an offer that they accepted, it has to appraise!  

Jul 28, 2011 12:57 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Faith. Simple, focused and right on the money. Good post. Have a productive day and price it to sell.

Jul 28, 2011 01:38 AM