Jun. 14, 2007 - Now Is The Time To Relax
Whew........it's a rough market out there. In my little corner of the world inventory is way up. The laws of supply and demand have certainly put some pressure on the sellers. It's almost like Wal-Mart has entered the real estate market and rolled back prices to 2005. It's not as if things are not selling at all though. They are.
If you have only been in your house for a few years and there is really no pressing reason to move, then I would suggest staying out of the fray for right now. But if you really want to move and you are a seller in todays market you need to relax and let your professional do their job. Listen to them when they give you an honest evaluation of what the market is like. Putting a property out there now at 10, 15, 20% more than what is moving off of the market at this time would be a tragic mistake.
If you have been in your house for more years than you can remember then you will probably be pretty thrilled with the price your house will fetch. When it comes time to buy the replacement home you just have to remember that the days of the $100,000, three bedroom home are long gone. You will be in a much better position to negotiate as a buyer with a fresh influx of cash, but they still are not giving homes away just yet.
Whatever your particular case may be, if you are a seller in todays market you need to be relaxed. Just because someone looked at your place twice doesn't mean they are going to make an offer. Hopefully they will but............ Whatever you do, try not to appear too eager to potential buyers. Put on your poker face and relax so as not to give the prospect any reason to think they would not be insulting you by a 20% under value, low ball offer. If you have an excellent REALTOR®, you know, one like me, then just trust them and let them do their thing.
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