If You’re Not Getting Showings You’re Priced TOO High

Reblogger Jill Sackler
Real Estate Agent with Charles Rutenberg Realty Inc. 516-575-7500 NRDS ID#641625055

Belinda wrote this about Colorado, but it remains true all over. Buyers recognize value. They're not looking to pay more than a house is worth.

Original content by Belinda Spillman CRE# 40005863

 

If You’re Not Getting Showings You’re Priced TOO High

 

 

realtorThe Colorado real estate market is HOT!  There is still a shortage of inventory even though sellers are slowly beginning to list their homes for sale.  This equates to a Colorado Seller’s Market but that doesn’t mean you can grossly over price your home.

 

Many sellers currently think they can add $10,000 to $25,000 to the fair market value of their home just because the market is hot.  That is not the case.  Buyers and their agents are savvy enough to avoid the over-priced listings altogether.  They know that the sellers aren’t really motivated if they are just throwing a sign in the ground to see what happens and they know those sellers will be difficult to work with through the entire transaction.  Most cases, these type of sellers refuse to do any repairs to the home at inspection time (especially if they accept a less than full price offer for their home). 

 

If you price it right – it will sell.  And I’m not talking about months on the market.  Well priced homes are selling in a matter of days and sometimes hours. 

 

This is the time to hire a professional real estate professional who is familiar with your area and trust them when they tell you what your home would sell for in today’s market.  Another option is to hire an appraiser and have them to do a full blown appraisal of your home. 

 

And remember – your home is only worth what a buyer is willing to pay for it.

 

Belinda Spillman
Aspen Lane Real Estate
Managing Broker/Owner
Metro Brokers Marina Square
(303) 884-2026

www.AspenLaneRealEstate.com

Belinda1126@hotmail.com

 

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Tags:
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Rainmaker
2,305,541
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Jill. Belinda does a great job with her post. Even if someone is willing to overpay, which happens and an appraisal is needed, that will usually be the next hurdle.

May 22, 2014 06:57 PM #1
Rainmaker
1,971,204
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

I've seen it reported that 25% if tghe MLS is hopelessly overpriced because of sellers ignoring the market. Real estate agents, brokers "buying a listing" and then turning around to whisper this guy, gal must be off their meds. Grossly over priced and what are they thinking, smoking? When the agent, broker was the one that freely scribbled in the price tag amount on the listing agreement paperwork.That made its way to weave in the next exit on ramp of the MLS information highway.

May 22, 2014 07:24 PM #2
Rainmaker
575,443
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Good Morning Jill: I concur with Belinda. Unless a property is unique, a well-priced home should sell within a reasonable period of time. Good re-blog.

May 22, 2014 09:00 PM #3
Rainmaker
748,296
Rob D. Shepherd
Windermere/lane county - Florence, OR
Principal Broker GRI, SRES

I just gave someone that speech yesterday and they actually believe me!

May 22, 2014 10:38 PM #4
Rainmaker
884,063
Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR

Jill,  I see this all the time.   The overpriced homes just sit and help to sell everything around them.   Crazy, isn't it?

Jun 14, 2014 11:59 AM #5
Rainer
11,115
Shilpa shree
QSG Technologies Pvt Ltd
QA Test Lead

Hmmm yes thats right.

 

Villas in ECR

Jun 15, 2014 08:20 PM #6
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Jill Sackler

LI South Shore Real Estate - Broker Associate
Long Island Living - Where Memories Are Made
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