Homeowners-I hate to sound like a broken record
I talk with 10-20 homeowners a day with regards to either their home expiring, being withdraw, or they have been released from the listing agreement with their previous agent. Ultimately, the number one reason these homes did not sell is the list price is not what the current market preceives as value, period. What happens with this group is the homeowner ends up becoming the highest bidder with their home. Something I don’t think any homeowner wants, was planning on or expecting.
Condition, location, exposure and price will determine when and if a home will sell. To be honest all 4 categories filter back to price. Meaning, if the condition is poor then the list price needs to reflect this. If a home needs deferred maintenance and the homeowner does not want to do this, not sure why in today’s market, then the price needs to reflect this. Each category reflects back to price. Maybe, exposure is not as price driven but again the longer it takes for a homeowner(s) to understand pricing the more money or equity they will lose. Without a doubt 85% of the homeowners marketing begins with price. It’s amazing to me how many homeowners have to go through the school of hard knocks to realize this. Hope over reality is what they have. I am not being disrespectful or mean. I work with more sellers than I do with buyers. In fact, 90% of my business is selling homes. I get it…values are down and the largest financial investment a homeowner has the equity is flying out the window like a bad draft.
If I had dollar for every time I have said what I am getting ready to share, I wouldn’t need to be in real estate. I say this over and over to the groups I network with and even to my clients, ” a homeowner who is going to put their hat in today’s real estate arena MUST price their home compellingly or DO NOT put the property on the market. Wait 4-6 years for the market to get better.” If the time frame is not realistic for the homeowner then NOW is the time to get the home on the market. Again, this is not me writing nonsense BLOG posts. I back what I am sharing with facts. Look at today’s headlines. Look at the BLOG post I posted several days ago…it’s happening and their is a reason why, click here.
New Home Sells Hits a 6 Month Low
(WASHINGTON) — Sales of new homes fell to a six-month low in August. The
fourth straight monthly decline during the peak buying season suggests the
housing market is years away from a recovery.
The Commerce Department said Monday that new-home sales fell 2.3 percent to a
seasonally adjusted annual rate of 295,000. That’s less than half the roughly
700,000 that economists say must be sold to sustain a healthy housing
market.
New-homes sales are on pace for the worst year since the government began
keeping records a half century ago.
Read more: http://www.time.com/time/business/article/0,8599,2094878,00.html#ixzz1Z538I0Bp
If you know of anyone who is thinking about putting their home on the market send them this post, they will not like it but in the end they will say thank you. Thank you for not giving me the smoke and mirrors but the facts.
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