Monday, December 15, 2008

Living in a Bubble

My real estate friend just posted this a week or so ago on her blog. She is so smart - I miss living close to her.

Anyway, it's such a great post about how to price a home in a declining market and how some people just are not budging on price even though the housing market right now does not demand the higher price. Some have simply priced their houses too high and are basing that price on the market a year ago.

I also wonder if the folks that list their houses so high realize how it hurts the surrounding neighborhood.

If houses are sitting on the market for 120+ days then people looking at that area start to wonder what is wrong.

Now, I don't want to go around dispensing real estate advice. I will let Krisstina do that. But if I remember one very important thing from my short-lived real estate career it is to price your house right.

For the love of all that is good in this world, price your house right.

It will sell faster, you will be able to go out now and find a new house AND pay less for it in this market and it will be better for your neighbors resale later.

Okay, off my box now.


kel said...

I would like to sell this house, but this craphole would never sell. boo!

Ali said...

Amen. It's just so hard, as a seller, to think that your house is like everyone elses though! Once I realized that our deck and storage building that we built were added interests and not added dollars, our real estate agent listed our old house at a competitive price and it sold in one day!

Evolving Mommy Catherine said...

Too true! People your house is only worth what someone else is willing to pay for doesn't matter what you think it's worth!

Anonymous said...

I would love to put our house up and sell because I know it's a great time to buy right now but I don't want my house to sell for cheap. I hope and pray that in the next little bit the housing market will finally start going up!!

fortyb4forty said...

Interesting thoughts to consider. We have no plans to sell anytime soon but have noticed prices all over the place on homes for sale in our neighborhood.

Kristin said...

If only my clients believed this, it would sure make my life easier!

Blog Widget by LinkWithin