Sometimes….. I HATE being right!!!!

29 Mar

Todays Real Estate market is like one most people have never experienced…….with that being said I had the unfortunate privilege of being right today….and wish I wasn’t!

Another home is now on the market for sale today.

A great guy that I met with about a year and a half ago “needed” to sell his home due to personal and financial challenges. Well you know the song and dance:

Potential Seller: “What? You are telling me my house is worth that? No way am I going to give it away!”

Realtor (Me): “I don’t want you to give your house away either….unfortunately when you put your home for sale you are entering a beauty contest and a price war. Homes that have sold recently in the area dictate the market value of what your house is worth.”

Potential Seller: “Well I paid $____ for this house and have put $____ amount of money into – if I sell I MUST sell it for $_____!!!”    (Fill in the blanks) 

Realtor (Me): “While I hear what you are saying, please understand that when a potential buyer is shopping for a home, they are comparing your home against others that are in like areas and like condition and will select the home THEY buy based on their PERCEPTION of what home will be the best value for THEM. I’m sure you would do the same if you were buying, wouldn’t you?”

Potential Seller: “Well ya…… BUT……. I MUST sell it for $_____!!! So I’m not gonna put it on the market until next spring. That’s when all the good buyers are shopping.”

A year and a half later……….the home is now for sale…..values of this particular neighborhood have plummeted and the home will go on the market as a short sale. To the tune of $40,000 less than we discussed a year and a half ago.

No real winners here……HMMMMMMMMM……

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