I have lived in this County for 13 years now. I am familiar with every part of it. I know where the best (and worst) locations are, in terms of value, scenery and privacy. It goes with the territory.
I took a listing last year that was a Lakefront Property. Zoning was Multifamily but would allow for a single family residence. When I initially ran the numbers to see what the potential listing price could be, my Client said it was way too low and that she needed more.She wanted to list higher then adjust the price as necessary.
She wanted to sell the property, but didn't want to accept the numbers from a Comparative Market Analysis. I told her that in order to get the attention the property deserved to sell fast, she would need to price it accordingly.
We have now only executed our third price reduction in 7 months. (Almost like Pulling teeth)
She is closer to the number I originally suggested, but still above that figure. This last time she even asked me what it would take to sell this lot. I told her flat out, "LOWER THE PRICE". We continued our conversation for another several minutes and she finally decided to lower the price. Too bad. It's still above what I suggested.
What makes it even worse? She is a licensed Realtor® from out of the area.
Crazy, if you ask me...............
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