Don't You Just Hate It When!!!

By
Real Estate Agent with Fathom Realty

I just listed a nice home Suffolk, Va.  The house two down from mine was listed the day before.  I went in at $314,900 and the other was at $324,900.  Mine is smaller and not quite as nice but the other one is priced extremely competitively.  The day after I list mine, the other drops his price by $11,000 making mine look overpriced!!!.  Of course my seller can drop his price but he can't ever match the others price.  The difference is my seller bought in 2005 for $275,000 and the other seller bought new in 2002 for $189,000.  I JUST HATE IT WHEN THAT HAPPENS and it happens a lot around here because we have so much new construction.   People who bought in 2005 just didn't get any appreciation in value around here.  Makes the market really tough.

 

 

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Rainmaker
218,508
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!
So let them sell that one then you sell yours...
Feb 07, 2008 02:13 PM #1
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1,654,538
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Gene - I think we are all facing this situation.  Sellers will have to come to the realization that instead of an appreciation they might be facing a loss.  As Debbie stated hopefully the other house will sell quickly,and without the competition you have a better shot.
Feb 07, 2008 09:01 PM #2
Rainmaker
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Charles McDonald
Charlottesville Real Estate Solutions - Charlottesville, VA
REALTOR®, Blogger, Principal Broker®, Owner

It is a tough market in a lot of areas and that is what makes a market. I want to wish you the best of luck in selling your new listing!

your friend in Charlottesville

Feb 07, 2008 10:00 PM #3
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Gene Allen

Realty Consultant for Cary Real Estate
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