Price your home according to market conditions........Please?

How many homeowners are currently overpriced compared to market??


TO MANY!!!

People, people, people...... we are living, selling and buying in a much different time then we grew accustom to just a few years ago. With short sales. foreclosures, distressed sales, etc. we have experienced a severe depreciation effect - YES - the bubble burst....

Is that really news to anyone?

Unless you spent the past 3 years on the I.S.S it really shouldn't be... Why then, are SO many homes priced out of the market? What is the thought process here? What is the strategy?

You are wasting your time!!!!

And more importantly, you are wasting the time of others - and in turn are now contributing to the Real Estate market we are all currently experiencing.

Would you pay $5.00 for a gallon of gas?

Of course not!! Am I crazy to even ask? Unfortunately if you are overpriced for the market, buyers will have the same gut reaction as you just had.... $450,000 for this home, when the one down the street JUST closed for $290,000??? What is this guy nuts? Why is he wasting my time, does he think I'm a jerk?

You are chasing the market!!

The longer you stay priced over and above fair market value the more you waste financially and emotionally. The added stress will take its toll on you - you will start pointing fingers - start believing that this market is truly "in the dumps" and may very possibly say "just take if off the market"

You are going to quit a race that you never entered!!!

Some of the list price's I see now a days really astounds me.... I don't know if its the doing of a bad agent that is simply "buying the listing" (this means to tell a seller you can far exceed market conditions, they then list with you in hopes of obtaining false hopes).

Or is it the homeowner that's just "sticking to his guns" - if that's the case, and you are NOT WILLING to accept current fair market value for your home.....

TAKE IT OFF THE MARKET!!!!

One of my favorite quotes came from an old friend of mine, now I'm sure he heard it elsewhere but it really condenses where I am coming from.....

"Market sets price, we do not"

This is true on so many levels, whether talking about homes, cars or broccoli - pricing is set by current demand for that product....not a tough concept to grasp.


If you really want to sell in this market - if you are serious about getting to a closing table......

PRICE ACCORDINGLY

If you are unsure if you are priced correctly - or if your agent has misinformed you on fair market value.....get in the car and drive!!!

Get on Realtor.com or look in the newspaper.....or contact me directly - find all comparable properties within a 5 mile radius (there should be plenty with the inventory levels we are experiencing) and PREVIEW THEM!!!

THESE HOMES ARE YOUR DIRECT COMPETITION!!!

Compare your pricing to these specific homes.....are they "nicer" then your home? Do they have additional upgrades? More square footage? An extra bedroom, a nicer view??? If so, re evaluate where you stand price wise - it is truly in YOUR best interest....

and if your agent doesn't know what they are doing??? Get rid of them!!! It's a privilege to sell your home, not a right...



For more information or help on correctly pricing your home in this environment please feel free to contact me directly.

rick@rickrapp.com

www.RickRapp.com

Real Estate Done Right!!