Who the heck Priced that House? There is trouble brewing...

By
Real Estate Agent with Godzyk Real Estate Services
http://actvra.in/sdB

There is a war raging and some of you may not even have noticed...yet... Others may be right in the heart of it. As the amount of homes Listed on the market declines sharply and the amount of sales continues to increase we have seen market stabilization in a lot of areas including here in the Manchester NH area. Prices have actually began to rise in segments of our market. 

There are 4 distinct sides in this "War of values". Which side will you be taking? 

1. SELLERS: One of the most important things that can help you sell your home is pricing it right. Using a Full time, Full service, Local and well experienced Listing Agent can give you the advantages you need when selling your home. List prices need to be priced at or near market value. The simple truth is over priced listings are one of the only segments of the market that are not selling.

2. BUYERS: With the amount of homes on the market sharply decreasing and sales continuing to rise there is more competition for homes among buyers. The days of 'Low Ball" offers is near over for owner occupants. Most buyers are learning the hard way losing their dream home by making a low offer. It is important to have an experienced buyer agent who can inform you of local trends and values.

3. LISTING AGENTS: With the decrease in Listings, there is pressure on Listing Agents to provide more service. For agents who have been providing a strong service to the banks throughout the last 4-5 years they are being rewarded as some banks consolodate their agent lists.

4. SHORT SALES: When listing short sales the practice of listing the home "way under market value" to attract more offers is leading to an increase in short sale rejections. This practice should be avoided as it is not helping out sellers who are losing their homes to foreclosure becuase of it.

5. BUYER AGENTS: One of the most important things is for Buyer Agents to inform and educate their buyers about current market conditions. Buyers need to be making better first offers. The offers need to follow any guideleines the seller puts forth in bank owned Sales. Offers should be accompanied with pre-quailification letters and forget the low ball offer if there is a lot of interest in a home.

 

IN CONCLUSION: The moral of the story is whether you are an agent, buyer or seller it is time to wake up, do not get caught snoozing and do not miss the boat. There are still some incredible deals out there. Interest rates are still ultra low "for now". Sellers need to be realistic, buyers need to be more realistic and agents need to be on top of their market to be able to provide the service your clients want and need.

It does not take magic to turn your "For Sale" sign into a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.

 

If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.

Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.

We stand by you through every step in selling your home.

PLEASE SEE SOME OF MY MOST POPULAR BLOGS

 
 
 
 
ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...

If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.

If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.

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Re-Bloggged 6 times:

Re-Blogged By Re-Blogged At
  1. Linda Sabo 01/31/2012 09:41 AM
  2. Mott Kornicki 01/31/2012 09:53 AM
  3. Karen Steed 02/01/2012 10:26 AM
  4. Jimmy Phan 02/01/2012 11:49 AM
  5. Steve Facella 02/01/2012 05:06 PM
  6. Gene Riemenschneider 02/02/2012 10:57 AM
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Rainmaker
214,815
Patricia Beck
Colorado Springs Realty
RE/MAX Properties, Inc., GRI, CDPE

When an agent practices #4, it wastes everyone's time and puts the seller at risk.  Agents need to educate their buyers more than ever now (#5)

 

February 02, 2012 10:55 AM
Rainer
26,940
Brian Dodds
Sale or Sail? We do both!
Coldwell Banker Willis Smith - Oriental, NC

Down here in coastal NC we still have a lot of overpriced homes on the market, some for over 1,000 days! Don't understand why some agents aren't suggesting that the listing be taken down for 90 days, review the CMA based on current sales and relist at a realistic price. Buyers here still have some bagains, avg sell to list is 94% and I just sold one at 88%.

Educating unrealistic sellers is still very important, but the message often falls on deaf ears.

February 02, 2012 01:59 PM
Rainmaker
613,422
Bob Miller
The Ruiz/Miller Team - Ocala's Dream Team
Keller Williams Cornerstone Realty

Wow Scott!  Great blog tarketing sellers, buyers, etc.  I liked the list of great blogs and the cal to action for short sales!

February 03, 2012 06:10 AM
Rainmaker
158,052
Dan Derito
Success! Real Estate

Good post Scott.  Price it right and hold on tight.  The market will tell the seller what the correct value is.

February 03, 2012 08:16 AM
Rainer
62,277
Gloria Matthews
Principal Property Brokers

I ran into a case last summer where the listing agent said the BANK told her to reduce the listing price, and then would counter 20% higher, and had several offers walk.  it certainly discouraged me and my buyer from playing the game.   DO they not know that a listing is a contract and an offer to sell at that price?  fortunately I think this practice has fallen away...but 

February 03, 2012 01:35 PM
Anonymous
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Rainmaker
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Scott Godzyk

One of Manchester NH's Leading Agents
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Additional Information

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Sales, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.