#timetosellfirst

[darrylgreenbergrealestate]

Same Game...Different Rules...

So we all know the most important rule in real estate is location, location, location.

 But…what would be the most important rule if you were the seller and not the buyer?

Well, what I’m finding more now is that price, price, price should be considered the most important thing to consider for sellers.

Here’s an example.  In my area alone (which is not huge) there are currently 20 townhouses for sale. And that’s just townhouses.  Not detached or anything else.  One type of house, one small area, and 20 to choose from.

Now I should qualify it by saying there are two public schools in the area which buyers can be picky about, but of those twenty houses, 12 would be at one school, and 8 at the other, so still no real big difference when choosing.

Where the disparity comes is in pricing.  After sitting in an open house in one of these townhouses this weekend, the most asked question was “why is this house priced this way and others are much higher/lower?”  There is a range of prices for these townhouses going from $799,000 (holding back offers), to over $1,200,000.

There are any number of reasons for this.  Sellers are still living in 2017 in their prices.  The sellers could have bought already and NEED to get a higher price to make both sides of the equation work.  Even sometimes agents make mistakes when it comes to pricing a property and find themselves on the wrong side of the pricing spectrum.

Where it gets even more interesting is when you see the same model house, with the same finishes, and very similar location, and a price difference of $100,000 which only serves to confuse buyers more as to who may or may not be priced right.

What can the affect be with these kinds of price discrepancies?

It is simple.  Buyers wait. Buyers who may be interested and not under any pressure to buy will simply sit back and watch.  See what sells first, see how much it sold for, and wait to see if other similar properties react to the sale price.  At that point, then they start to consider making a move.

Don’t get me wrong, I’m not saying to not list a house when there is competition out there.  There will always be competition out there.  What I am saying is for everyone to do their homework and come out at the right price, or as close to it as possible, to avoid being one of those 20 homes that might be sitting for a bit.

If you have any questions about pricing or how to sell your house amidst a lot of competition, feel free to contact me at any time.

 "3e/�ly �Ѐ