Back in March I made a listing presentation to a homeowner in Northern Virginia. I recommended the seller list the property at $390,000. . Of course, my recommendation was based on the extensive analysis I always make to be certain the seller has the benefit of my many years experience in the area The seller opted to list the home with a competitor for $460,000.
There is no doubt in my mind the seller decided I wanted to price the home too low to make a quick sale. It probably never occurred to the seller that the "high bidder" was overpricing the home to obtain the listing.
Over this past weekend the seller called me to inquire if I would like to represent them as the new listing agent - their 6 month listing was about to expire. The listing price had been reduced regularly and was now within $7,000 of my earlier recommendation.
I advised the seller I was no longer interested in working for them. Why? I might have to recommend a price lower than the price I recommended 6 months ago. If they lacked faith in my broad experience and knowledge of the local market in March it is highly unlikely they would have more faith in August.
Arthur and I have seen numerous real estate cycles - we know how to work to meet your objectives at the peak and at the bottom of the cycle.
Planning to Buy or Sell Real Estate? Contact Karen and Art by Email or call us at 703-562-1532. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.