Does this sound unbelievable to you? You think it is absolutely impossible? It is all about the price in relationship to the market. Pricing a home for sale is about being both realistic and knowing the market. The proof of good pricing is traffic to preview the home, offers and ultimately, the accepted purchase agreement.
Today’s market is different from just about any in the past. There are many factors that we hear about everyday that make for these historic differences. But what is the same is pricing in relationship to the market. Price shows value when it generates traffic, offers and the ultimate sale of the property.
Does that mean every homeowner today has to sell at foreclosure prices? NO, but it does mean that the market reflects the number of bank owned homes and that sellers need to take this information into consideration in the pricing of their home. Good pricing is aggressive against the competition.
Example: Perhaps you have wondered about what is going on with7474 Allisonville Road. The wrought iron gates, are often wide open and then shut In summary, the property, over 8 acres and a house with over 7500 sq ft, sold for $1.6million in August of 2005. It came back on the market in Nov 07 at $2.5m. Through a lengthy process, it came back on the market as a bank owned property listed at $360,000 and within six days it has an offer. Now that is a bank responding to the market but it is a very particular home and situation.. The assessed value is $1,134,000. Not your averageWashingtonTownshiphome, but nonetheless a stark example of what is happening in the marketplace. Know the competition for the sale of your home, price it right and get the sale closed. This is what sellers need to do in this market. YES, homes are selling everyday!