Sellers! Make Your Price Adjustments And Get In The Game


PH00397

One of the most difficult things in my business today is to explain to my seller client the fact that our home values have fallen and unfortunately their home may not be worth what it used to be worth. I can go to my listing appointment with information in hand; facts from the MLS that show the recent sales of homes that are comparable to their home. It’s not an easy pill to swallow for anyone when looking at the facts. Let’s face it – our American Dollar isn’t worth what it USED to be worth either!

PH00365

Let’s look at the Closed Residential Sales in the Everett area

In September of 2008 the average sales price was $375,000.
In September of 2009 the average sales price was $321,024
In September of 2008 the Median sales price was $349,500
In September of 2009 the Median sales price was $302,150
In September of 2008 the Average Days on market was 79 days
In September of 2009 the Average Days on market was 91 days

We can look at the picture and think doom and gloom but what we fail to see is the positive side which is this:
In September of 2008 there were 133 homes sold/closed
In September of 2009 there were 166 homes sold/closed.

Check out this link to see the average interest rates for September 2008 and 2009.
money house
Remember that our market as always goes in cycles. Sellers need to determine if now is the time to sell and if it is then they need to get in the game and price their homes competitively at today’s market prices. It isn’t going to do the seller any good to over- price the home (2008 prices) in today’s market and have it sit there not even looked at by market savvy buyers. Interest rates ARE low and homes ARE selling when priced correctly. Banks ARE giving loans and homes ARE closing.
The hard truth is: If you as the seller, cannot afford to sell at today’s market prices – then you shouldn’t.

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