This Isn't Back To The Future! Why You Can't Sell Your Home At 2005 Prices.

Reblogger Linda Edelwich
Real Estate Agent with William Raveis Real Estate 0757389

Betty and John Knowles below blog should be re-blogged every day. Let's get real about what the homes are worth in TODAY'S market and get them sold!. Great post and worth keeping the message fresh and in our thoughts. And the picture of the car isnt too shabby either!

Original content by Betty Knowles

Wouldn’t it be nice if you could hop in your De Lorean like in Back to the Future and go back in time to just before the real estate bubble? You could set the time machine a few months before the hot market and buy up a few choice properties and then just sit back and wait. Then you could sell them all at a hefty profit and then return to present day. Now with cash in hand you could buy more property at deeply discounted prices. Time Machine

Unfortunately this isn’t Back to the Future and you aren’t going to sell your home today at 2005 prices.  The real estate market is what it is and if you list your home at 2005 prices you aren’t going to fool anyone. Your home is competing against foreclosures, short sales, and other listings that are more realistically priced.  So what can you to do?

There is a silver lining to all this. You can sell your current home at a loss and then turn around and buy a more expensive home which is also discounted by the slower real estate market and gain on the other end. In other words, if you sell your home now it’s a great opportunity to then purchase your dream home at a lower price than you ever imagined.  With historically low interest rates it’s a great opportunity.  

If you do run across a time-machine, let me know. I’d like to go back in time and buy some stock in Wal-Mart, Apple, and Google before they became so successful!

   Betty & John Knowles

TeamKnowles, Spouses Selling Houses!

About The Authors:  Betty Knowles is a full-time REALTOR® with Keller Williams Realty in Springfield, MO and proudly serves on the board of the Greater Springfield Board of REALTORS®.  She also serves as President of Women’s Council Of REALTORS® in Southwest Missouri.  Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.  

John Knowles is likewise a REALTOR® with Keller Williams Realty and a member of the Greater Springfield Board of REALTORS®. A self-proclaimed computer geek, John is talented at developing real estate websites, videos, photography, blogs, search engine optimization and other technical skills essential to marketing and selling real estate in Springfield MO.

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Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ

When prices were soaring in 2005, I was wishing we could revert to 2000 so I could buy a few investment properties!  Ouch... my wish became true, but I didn't intend for so many to be losing their homes!

Oct 01, 2011 12:22 PM #1
Betty Knowles
Southwest Missouri Realty - - Springfield, MO
TeamKnowles REALTORS® - Springfield MO Real Estate

Thanks for the reblog Linda! Some people get the message and others don't. 

Oct 01, 2011 12:57 PM #2
Melissa Ostrom & Melville Capps Newton MA - The Mel and Mel Team
(617) 388-3151 | Century 21 Commonwealth - Newton, MA

Real estate goes in cycles. Prices go up for a few years, and then they come back down. Then they go back up again. But this cycle is different. This cycle is an artificially created price bubble, and prices were much, much higher than normal cycles would allow.

The flood of new, easy-to-qualify buyers that were a part of the cause in the price bubble are permanently gone from the market. The correction of this rise cycle is having to include systemic changes to the market. Just look at the changes in appraising and loan brokering for example.

There will never be a return to the the 2005 market, even though prices in some areas, such as Newton MA, are already over them, because the market itself has changed. Sellers who accept this market as it is right now can sell their properties, those who can't won't sell their properties.

Melville Capps

Oct 01, 2011 04:41 PM #3
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