Friday, March 3, 2017

Overpriced Listings

In a community where we have approximately 400 properties for sale, there is pretty much only one reason why a home is still on the market.

Because there is a buyer for every home. And, if it's not in an age specific community, and available to any and all people to should be selling pretty dang quickly.....if priced correctly. Well, okay, if it's in the 1M price range, we do have less buyers for that. But even those are moving!

I'm working with many buyers right now. Most properties are flying off the MLS, multiple offers, etc.

But, if a Seller lists their home for 10% higher than the most recent sale? How the heck am I supposed to 'sell' that to my client?

What's that thing the young people say ~ 'Cray-Cray'. Really crazy.

Now, yes, some homes may be so fantabulous compared to the most recent comparable sale to warrant that....but most, they just are not. If I can prove to an appraiser that it's worth 50k more, so be it. If my buyer just has to have it for 50k more, well, okay then.

But, give me a 550 recent closed home sale and then show me a model match, with no significant differences at 600 list price? I'm going to suggest my buyers offer way closer to 550. They can do whatever they want to do, but I've got to guide them.

And, if we write an offer, don't get accepted by Seller....we can wait & see......they usually come down in price....eventually. But, by then? My peeps are in their new home already....and it's not an overpriced one!

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