Friday, June 30, 2006

Price: Your home's value in this market

There has been alot of chatter surrounding home prices and market times lately. Yes, I've just made the understatement of the century. I usually do not beat a dead horse... instead choosing to adjust my game-plan accordingly to shifts, highs, and lows. What the hell am I talking about? Pricing, pricing, pricing.

Here's the deal. It seems that no matter how many front page stories are run about falling home prices, longer market times, buyers' markets, rising inventory- home seller's shut it out. N.M.H. Not My House!

Yes, your house. No matter what happend last season, your home must sell this season. And price cures everything. The $350K condo last year, is $325K this year... why? Interest rates and inventory.

There have been many people, and articles written (find "Overpricing, Overated"), that have explained pricing in the current market conditions better than I ever will. In fact, a Realtor in my office wrote a great piece covering this issue (ask me and I'll link you to it... he is a competitor after all). But the fcate are facts... if you have gotten over 30-40 showings of your place with no offers, you are overpriced to the extent, most will not even take a chance at a low ball.

This has weighed heavy on everyone lately... but to the professional, (that would be me), it is time to speak the truth to the client. But if I get the price needed to sell, I have to back it up with the marketing tools, effort and access. This combo will sell the property.

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