The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify
Aug 25 2016 23126 1
Recipe for disaster: The Overpriced Home
By: Linda Piercy
A real estate agent who gives unrealistic valuations to the home owner
A home priced well-above neighboring properties
Peculiar amenities in the home – can be substituted for lack of amenities in the home
List the property online with the higher-than-comps price. Watch very little traffic occur.
Show the home a few times, but not a steady stream of showings.
Receive the common feedback word for the property – “overpriced.”
Home owner refuses to lower the price, citing that they want top dollar.
The home can be marketed for months without a single offer.
The longer the home is on the market, the less value it has in the eyes of buyers.
The home owner might receive only low-ball offers for their property.
Has this happened to you? Perhaps it's time for a re-evaluation. Should you take the home off the market temporarily? Is there something about the home that can be improved? It’s not a crime to want top dollar for the property, but make sure that it doesn’t affect the overall appeal. Good luck out there and let me know how I can help!
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