Fix it! Price it! Sell it!
July 2nd, 2008 - Linda Miller
The incredible world of blogging…….Jim has been telling me how much fun it is to read other Realtor blogs. Some are funny, some serious with market facts, some opinion based. While I love a good laugh, I have a tendency to be quite serious. Opinion? You probably won’t know my opinion unless I am bribed, coerced or caught off-guard! Perhaps this will be my turning point…..an opinion or two just might squeak free from my blogging fingers.
Spokane’s market has been most interesting. If you have watched my listing web pages you will note that I have good properties for sale. Differing price ranges-none that would be categorized as “jumbo”. Here’s my opinion-the houses that sell quickly are priced just under their neighboring competitors, and they are clean. No clutter, good condition top to bottom. What this means is that there are buyers making good purchases. They either have already secured a loan (this means no surprises after an offer has been presented) or they are cash buyers. To my surprise there have been multitple offers on some very nice homes. Here’s the theory: pricing just below the competition means that the offers will be presented early in the marketing process. Buyers usually do not make ridiculous low offers when a property is new on the market. It is a risky move to offend a seller. A property that has been marketed for a longer period of time tells a buyer that the seller just might be getting worn down and will appreciate any offer. Using that theory: a property priced appropriately with get quicker offers, better offers and will not have to be categorized as “worn”. Worn properties sell for an amount less than what they could have sold for in the beginning if they had been priced right to start with! That was a mouthful…..but it’s my opinion!
Tags: competition, opinion, pricing