And Sometimes The List Price Is The Starting Point…
It can be difficult to be a buyer these days in our competitive Pasadena area real estate market.
Low inventory of properties available for sale.
Lots of buyer interest in purchasing the limited number that do come on the market.
Multiple offers are pretty common. At least when a property is well-priced, well-presented and available to be seen.
So, when first time or relocating buyers or people deciding to move up and who haven’t bought a home for a while decide to venture into today’s competitive Pasadena(or many places in the country)real estate market, it can be a little scary -- okay maybe very frightening
While working with some relocating buyers recently, the wife asked about pricing.
That house needed a lot of work, I might buy it if it was priced 10%, no 20% below its asking price.
Hmm, I say -- how did you come up with that price?
Because it needs work.
Do you realize the house has been priced to reflect “work” that is needed?
Then I decided to take a detour to another home in the neighborhood that was priced substantially higher that was in turnkey condition. It wasn’t on my planned list of homes to show.
Can you see the difference? I ask.
They both understood.
Sometimes a list price is a wish - a dream - a I hope I can get this kinda price.
Other times it’s realistic
And then there are the times it’s a starting price.
Unless you have an unlimited budget -- you will need to establish parameters in your purchase. In addition to your wallet, your lender will also have a say in that price as well. Afterall, the idea is to actually close the transaction.
Do you have questions about Pasadena area real estate. Whether you are a prospective buyer or a homeowner thinking of selling, I welcome your call 818.516.4393 cell.
And Sometimes The List Price Is The Starting Point…
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