2Tips4-2sDay: Price Homes RIGHT / Make An Offer Already

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Real Estate Agent with Davis R. Chant, REALTORS RS301772

Welcome to this 2Tips4-2sDay. This edition has tips for both buyers & sellers! This is the "Lite Version" - the full version can be found on my outside blog, PikeWaynePABlog.com

1. SELLERS: Price it Right, Or You Will Wait. The Lake Wallenpaupack market is sure and steady. Not booming like it was but there are buyers out there (look at the page I just finished for the company website if you don't believe me.)House For Sale - Now Under Contract

Others may whine, “The market is awful!” Maybe they list homes at prices not supported by The Market. Two of my listings are now under contract (one was snatched up in 14 days.)

In a nutshell, Market Value = The Price A Buyer Agrees To Pay. Some argue that it also includes the price the seller agrees to - but ultimately, if the buyers won’t buy, it’s priced too high.

Experience shows that overpriced homes will be on the market a long time.

  • People paying higher prices expect more than overpriced homes can deliver.
  • Buyers looking for what that home offers will be stopped by the price.
  • Once the price is finally adjusted to the market, the home may now seem "stale."
  • Buyers think something is wrong when homes have lots of "Days on the Market". (translate: LOWER BIDS)

When pricing your home, look at the comps. If the market won’t bear the price you want, do not try to sell at this time. I can provide a detailed home analysis showing the current market trends. Just email me and we can get started.

Further Reading:  The Market Doesn't Care    Pricing Your Home To Sell 

 

 

Offer to Purchase2. BUYERS: Is The Home You Love Priced Too High? Offer Anyway!

Nobody knows what a seller will say until you ask. The listing agent doesn’t know what the seller will say until it is presented (though they can guess.) Heck, even the seller may not realize what’s “acceptable” until it’s on paper!

  • Avoid “pennies-on-the-dollar” lowball offers; your agent should provide recently sold comps to help you make a realistic offer on the home.

I took a call on a property listed at $169,000, and the guy said “Think they’d accept $50,000?” I could honestly say: “No.” (I even kept a straight face!)

  • Yes, it's buyer’s market, but let's not get carried away; most of the sellers in the Lake Wallenpaupack region are generally not distressed or desperate.

Don’t worry about “offending” the seller with a lower offer. Chances are you will never meet the seller, and the very that can happen is the seller will say “no.”

 

 

 

Send Email for Real Estate Info Go To Real Estate Website Search Pike Wayne MLS

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WEICHERT, REALTORS® - Paupack Group
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Karen E. Rice is a real estate agent working in Pike & Wayne County of Northeastern PA in the Pocono Mountains. Lake Wallenpaupack is one of Pennsylvania's most popular destinations for vacations, retirement, and purchasing a home.

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Homes For Sale & Local Info for Pike County, Wayne County, & Lake Wallenpaupack in Northeast PA.

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Karen Rice (that's me!) lists & sells in Tanglwood, Wallenpaupack Lake Estates, Hideout, Indian Rocks, Masthope, Fawn Lake, Tink Wig, Woodland Hills, Walker Lake, Hemlock Farms, & more in Pike & Wayne County.

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Jason Sardi
Auto & Home & Life Insurance throughout North Carolina - Charlotte, NC
Your Agent for Life

Fantastic local post Karen!  Pricing a home right from the get go seems to be so crucial these days...

May 06, 2008 09:09 AM #1
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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
Karen - Great advice which both buyers and sellers should heed.  It is still possible to successful buy and sell in this market if these simple tips are followed.
May 06, 2008 12:18 PM #2
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Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro
Karen, Excellent Advice!!  They might get a contract for an overpriced listing only to find that it doesn't appraise.  That is such a waste fore everyone involved. 
May 06, 2008 03:14 PM #3
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
Great post. I agree it is important to price it right.
May 07, 2008 12:28 PM #4
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M. Suzi Woods (Gravenstuk)
NOW Sharing the life and spice of the GC one day at a time - Grand Canyon, AZ
Suzi Woods, Prior Independent REBroker in MS
I enjoyed your post, Karen. Listen up, Real world!
May 07, 2008 02:48 PM #5
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Karen Rice

Northeast PA & Lake Wallenpaupack Home Sales
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