Do you NEED to sell or WANT to sell?

By
Real Estate Agent with Keller Williams Realty Atlanta Partners

With all of the bank-owned properties and "must sell" homes flooding the market right now, people who have their homes on the market without having the "need" to sell are getting frustrated.  Prices are being driven down by short-sales and foreclosures and agents are having a tough time explaining why homes that were reasonably priced last year are not getting shown and no offers are coming in.  Often, sellers point out that there are several homes LISTED at higher price points, but it's our job to make them face the fact that LIST prices are not true COMP prices and that when a foreclosure sale is filed at the county courthouse, it becomes a COMP price for the neighborhood. Of course, appraisers can enter comments in their reports about conditions of sales, but for now, prices in some neighborhoods are being held down.  The rate of appreciation we saw a few years ago (double digits in some areas!) has slowed considerably. 

If you simply WANT to sell your home, this may not be the right time for your property to sell at the price you'd like to get.  Talk to your agent - and LISTEN to what they have to say, even if it's not what you want to hear.  If you can be patient and wait for the market to absorb some of these MUST sell properties, you'll most likely get a better price and have a shorter time on market in the long run. 

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Rainmaker
636,880
Christopher Watters
Watters International Realty - Austin, TX
Austin Realtor (512-829-8000)
Great post.. This is def. something you have to discuss with potential sellers. B.c if they "want" to sell they will def. have to price it right!
Apr 23, 2008 04:22 PM #1
Rainmaker
63,714
Robin Sherman
www.PensacolaForYou.com - Grand Points Realty - Pensacola, FL
Search Pensacola Homes, For Sale - Pensacola FL Neighborhoods
Chasing the market down . . . we have to tell the sellers (or wanna be sellers) the hard truth and refuse to take the listings that won't sell now. We don't do them any favors - and certainly not ourselves or our profession - by listing at prices that we know won't sell (or appraise).
Apr 23, 2008 04:40 PM #2
Rainmaker
251,318
Benjamin Clark
Homebuyer Representation, Inc. - Salt Lake City, UT
Buyer's Agent - Certified Negotiation Expert

Welcome to Active Rain! For some tips on how to get started here, check out my blog entry at ActiveRain Fast-Start Tips for Quick and Easy Points

Happy blogging and good luck!

Apr 23, 2008 04:43 PM #3
Ambassador
798,828
Brad Andersohn
Executive Director of Education at eXp Realty - Fairfield, CA
ActiveBrad - 707.646.1876
Hello Laury - I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to a fantastic Real Estate Industry Network!  Welcome aboard, I hope you'll continue to Blog, and invite others.  I’ve added a link to a post called, “NEW MEMBERS – Start Here” that will hopefully get you up and running with the least amount of effort, and also help you to navigate around Active Rain more efficiently. I hope you'll find this to be a useful post in helping you get started.  Again, welcome to Active Rain, the best place to start, and have a Blogging experience!

Good Luck to you and your business!  B-)
Apr 23, 2008 05:11 PM #4
Rainer
29,814
Brian Hoots
Real Living Speckman Realty, Inc. - Bourbonnais, IL
Laury, Welcome and congrats on your first post here at Active Rain!
Apr 23, 2008 05:12 PM #5
Rainmaker
559,223
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Laury,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Apr 23, 2008 08:50 PM #6
Rainer
61,427
Dorene Shirley
The Mortgage & Property Connection - Campbell, CA
Silicon Valley Real Estate

Laury - Welcome to the Rain, make sure that you browse the site and become familiar with everything this site has to offer.  The more you browse the more you will learn.  I have found this site to be really helpful to me.  If you have any questions, please don't hesitate to email me, I will do whatever I can to help.

http://www.doreneshirley.com/

Apr 23, 2008 09:56 PM #7
Rainmaker
823,147
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm
Apr 24, 2008 04:08 AM #9
Rainer
261,273
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA
Hi Laury - Great post.  In fact, we're dealing with the same issue in our area - having bank-owned and short sale prices affect the sellers who are not "in trouble." I agree with you - that if they can't get the price they want right now, better to hold-off and put it on the market once we've stabilized a little more and the number of bank-owned and short sale listings on the market decreases.  Welcome to Active Rain... I'll look forward to more posts from you.  You're off to a great start here on Active Rain - keep it up!
Apr 24, 2008 04:56 AM #10
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Laury Gardner

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