If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Northwest Glendale Real Estate Hot Sheet
e-mail kendyl@kendylyoung.com for details
click here for chart explanations and disclaimer

Today’s chart really highlights the problem of pricing high and reducing too little and too late.

I hear this whine from seller’s all the time.  “I don’t want to give the house away!” This is always coupled with the rational that you can always lower the price if the buyers won’t buy.

This strategy will almost always lose money!  Every house on the chart, today, used this idea of starting high.  In most cases it was crazy high.   Each one has been for sale for more than 6 months, some nearly a year.  In each case, these homes are now priced far below where I would have expected them to sell.  And then there is the time lost.

Now, take the flip side.  The owners of 831 W. Kenneth Rd. decided to price their home a bit below the expected sales price.  They sold in 3 days, with multiple offers and with great terms.  In the end they netted very close to the expected sales price and they had relatively little inconvenience and stress.

No one is asking you to give your house away.  The real question to be asked is - “Given the state of today’s market, are  you absolutely going to sell?” If the answer is yes, than listen to the truth on price.  You will make money in the end.


Tags: ,