The national media is blasting that home sales are up...compared to last year.  But what about prices?

Truilia is reporting that 25% of homes currently on the market have had at least one price cut. That's a national statistic. According to their stats,   Kansas City MO has experienced 25% increase in price reductions from June '09 to August '09.  CEO Pete Flint also remarked:  "The reality is, today's sellers need to price aggresively to avoid reductions.  Consumers are looking for value and when they find a good deal, they are taking advantage of market conditions'.  SO TRUE!

Sellers, here's the deal:  you can price to sell or you can price and 'wait and see' if someone bites at the over-reaching listing price.  This is the reality in today's market, but so many sellers don't want to hear it. LISTEN TO YOUR AGENT.  CHECK OUT THE HOMES NEAR YOU ON THE MARKET. ACT LIKE YOU ARE A BUYER. 

It always amazes me when I hear someone say "my neighbor/friend/father says I can get xxxx amount for this house and I'm not going to underprice it."  Is  your neighbor/friend/father working real estate every day of the week like an experienced, professional agent? No.  Does your agent want you to get the highest price possible for your house? Yes.  Who wants a quick sale? Agent and seller. And what is a quick sale today?  Within 30 days.  But buyers today are so different from the buyers of 4-6 years ago when the market was hot.  When a house would sell in two days. What's selling in two days now?  A house that is priced right, staged right, and appears to the buyer to be quite a deal! (w hy are foreclosures hot? Because of the pricing!)  I hear it all the time from every buyer:  I want a 'good deal'.  They know this is THE time to buy since it appears we are at the bottom of the market. Today's buyer will keep looking until they find that 'good deal'. And they will look at everything in their price range. As a buyer's agent, too, it's up to the Realtor to point out the 'good deal' to the buyer--and the homes that are overpriced for this market.

Sure, there is a lot of money at stake in a transaction. As a seller, you want the most from your sale. However, today's market favors the buyer.  And buyers know it.

It's frustrating for sellers and their listing agents to have a house sit on the market for months, knowing it would sell if it was priced right and shows well.  Sometimes it's the location that holds back a sale. Sometimes it's an abundance of inventory in a particular subdivision or area.  Most of the time today--it's  price that prevents the sale. (and i"m referring here to moderately priced homes, not the upper end high dollar market). There are buyers out there.  Take a look at your showings and the feedback, ask your agent--that will tell you what's holding back the sale.

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