Sunday, November 11, 2007

A message to home sellers


Yes de-cluttering helps. Yes curb appeal helps. Yes a new coat of paint works. But it is all for naught if you don't lower the damn price. It is not 2005. It is 2007 and in 2007 (and in 2008 and 2009) prices are falling. You have two choices. Either lower the price ahead of everyone else, or follow the price down.

Here are some examples of what not to do:

1254 BONSHAW TRAIL, Marietta, GA 30064 (MLS 3418613)
For sale since February. Started at $399,900 and now it's at $379,000. WOW!! And I can just see the discussion Mr and Mrs Homedebtor are having:

Mr: Gosh why isn't the house selling? It's worth at least $450,000, at this price people should be knocking down the door.

Mrs: Maybe we need some more de-cluttering and a new coat of paint

Mr: Yeah, and we also need to bake cookies so when people come to see it they'll get that warm feeling

Mrs: You don't think we should lower the price do you?

Mr: You nuts? We're giving it away as it is. I'll go bankrupt before giving it away even more. And don't you remember what our Realtor and mortgage broker said? Housing always goes up and we are entitled to at least a 10% a year increase for the rest of our lives.

Even more deluded homedebtors live at 4814 RIVERHILL ROAD NE, Marietta, GA (MLS 02079211). Their house has been listed since January and they haven't lowered the price by even $1. I mean come on people. 10 months for sale, it hasn't sold....can you not get the hint?

But the winners of most delusional sellers of the year award goes to 488 WHITLOCK AVENUE, Marietta, GA (MLS 3223392). For sale since February.....2006 that is. Yep, for sale almost 2 years and not even 1 price reduction.

No comments: