Nancy, great blog, and so fitting for the market today. Prices are rising but not as fast as some sellers think. I always tell them that leaving negotiating room is good in theory BUT you have to have someone ot negotiate with, or it doesn't work
MR SELLER, THEY'RE REJECTING YOU ON PAPER
I have a client who is looking for a home in the Countryside neighborhood of Sterling, Virginia. We have been looking at 3 level townhomes with at least 2 bedrooms. And since there are so few homes to choose from, we have seen everything...the good, the bad and the downright ugly, and know what the new homes coming on the market should be priced at.
Since nothing has come on the market that meets her needs, I have begun calling the people who live in the neighborhood to see if I can find something for her. In the course of my phone calls, I called a person whose home was on the market (not intentionally, just going through the list of streets). She called back and told me that her home was on the market. When I asked her what the address was, I quickly realized that we hadn't seen it and weren't going to see it. It was overpriced by between $30,000 and $50,000. I didn't share this with the seller but realized we'd rejected the house on paper.
So, Mr. Seller, you might get some showings of your overpriced home but it will probably be by somebody who does not know what the prices are in the neighborhood. An agent and their client who know the market prices will not even bother to show your home....and are rejecting you on paper.
Do you want to be rejected on paper?
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